21st July 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI63,930.720.27%24.74%
Brent Crude Oil   79.690.24%-7.23%  
Natural Gas2.776.22%-32.44%
I&E FX Window 768.163.38%-71.45%
Parallel Market  843.00-2.18%-13.92%
Nigerian Treasury Bill (Average Yield %)4.06%-2.04%-33.77%
FGN Bonds (Average Yield %)12.96%0.01%9.31%
Gold  1,971.01-0.33%8.64%
Cocoa 3,396.00-1.08%30.32%
  • Equities Market remains largely flat, with NGX ASI up by 0.27%, climbed 173.49 points to close at 63,930.72, a week gain of 1.88%, a 4-week gain of 8.16%, and an overall year-to-date gain of 24.74%.  Top gainers on the day include University Press (10%), Eunisell Interlinked (9.97%), Academy Press (9.95%) and Chellarams (9.91%).
  • Brent crude futures steadied above US $79 per barrel on Thursday after facing heightened volatility in recent sessions, as traders continued to assess the outlook for the oil market in the second half of the year
  • Naira’s exchnage rate to the US $ continues to be volatile. At the I&E window, the Naira appreciated by 3.38%, closing at a rate of N768.16 against the US dollar, but reached N843 on the streets, a depreciation of 2.18%.
  • US natural gas futures surged 5% to above $2.7/MMBtu, the highest in a week driven by expectations of heightened demand for air conditioning amid hotter-than-usual weather forecasts until at least August 4.

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