17th May 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI 52,580.860.31%2.59%
Brent Crude Oil   75.300.52%-12.35%  
Natural Gas2.34-1.60%-42.93%
I&E FX Window 465.13-0.12%-3.81%
Parallel Market  744.670.04%-0.63%
Nigerian Treasury Bill (Average Yield %)6.67%0%8.81%
FGN Bonds (Average Yield %)14.370.06%21.57%
Gold  1,981.42-0.34%9.22%
Cocoa 2,988.00-0.23%14.67%
  • Market capitalization up by N7.8bn to close at N28.64tn at the end of trading on Wednesday. The All-Share Index (ASI) which had opened on a positive note this week, gained 0.31 per cent or 161.53 base points to close at 52,580.86 points at the close of trading representing a 1-week gain of 0.71%, a 4-week gain of 1.3%, and an overall year-to-date gain of 2.59%. MRS (9.93%), NB (9.63%), CADBURY (8.24%) led the gainers table.
  • Airtel Africa, despite growth in revenue, has reported a 5% dip in profit for Q1 2023.  Operating in 14 African countries – East, Central and West Africa, it blamed challenging operating environment and worries about currency devaluation for the profit dip. Profit after tax (PAT) dropped by 0.6% to US $750million, compared to US $755million in the same period last year. Africa’s currencies have depreciated by 8% on average since January 2022, according to the IMF.

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