2 May 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI 52,403.510.32%2.25%
Brent Crude Oil   79.15-1.14%-7.87%  
Natural Gas2.31-4.18%-43.7%
I&E FX Window 463-0.22%-3.44%
Parallel Market  735.670.45%0.59%
Gold  1982.35-0.39%9.27%
Cocoa 3,200.000.82%22.80%
  • Crude oil prices fell by 1.14% to US$79.15 the first day of a new month starting the week with a downside on expectations of another rate hike by the US Fed, combined with weaker-than-expected economic data from China to erase previous gains.
  • The Naira remains flat at I & E Window due to non-trading activities on Monday but strengthened by 0.45% at the parallel market as Naira closes N735.67/US $
  • Natural Gas price declined 4.18% on Monday on record output and forecasts for milder weather and brought the year-to-date to – 43.7%, far from its peak in November 2022. Milder weather conditions are helping households and businesses reduce demand for heating, and complemented efforts by households and businesses to cut their energy usage – and bills.

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