18th July 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI62,943.350.6%22.81%
Brent Crude Oil   78.88-1.24%-8.18%  
Natural Gas2.51-0.98%-38.78%
I&E FX Window 795.281.00%-77.44%
Parallel Market  801.000.25%-8.24%
Nigerian Treasury Bill (Average Yield %)6.11%-0.01%-0.33%
FGN Bonds (Average Yield %)12.92%-0.03%9.31%
Gold  1,947.02-0.42%7.32%
Cocoa 3,345.001.42%28.37%
  • The NGX All-Share Index (ASI) moved up 373.62 (0.6%) points to close at 62,943.35, a week loss of 2.57%, a 4-week gain of 6.33%, and an overall year-to-date gain of 22.81%.  Unilever Nigeria led the gainers with 10%, followed by Fidelity Bank (+10%), Daar Communications (+10%) and Sterling Bank (+9.97%).
  • Oil prices fell by about 1% in early Asian trade on Monday after major Libyan oilfields resumed production over the weekend following a brief shutdown and after China reported second-quarter economic growth below expectations. The U.S. benchmark WTI Crude was trading down by 0.98% at US $74.68 per barrel, while Brent Crude traded below the US $80 per barrel mark it had reached last week for the first time since May, down by 0.96%, at US $78.88.
  • Naira appreciated by 1.00% at the I & E window yesterday, closing at a rate of N795.28 against the US dollar. Similarly, on the streets in the street market, it was a modest appreciation of 0.25%, reaching a value of N801.00 against the US dollar.
  • U.S. natural gas futures eased about 1% to a fresh three-week low on Monday on rising output and forecasts for less hot weather over the next two weeks than previously expected.

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