23rd June 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI59,211.26-0.19%15.53%
Brent Crude Oil   74.02-4.02%-13.38%  
Natural Gas2.600.23%-36.59%
I&E FX Window 763.13 -3.23%-70.77%
Parallel Market  766.67-0.88%-3.60%
Nigerian Treasury Bill (Average Yield %)6.46%0.00%5.3 8%
FGN Bonds (Average Yield %)14.05-0.07%18.87%
Gold  1,915.44-0.87%5.58%
Cocoa 3,128.00-0.82%20.04%
  • The stock market fell for the first time this week, falling 0.19%.  The benchmark NGX All-Share Index (ASI) fell 112.69 (-0.19%) points to close at 59,211.26, marking a 0.03% one-week gain, a 12.52% four-week gain, and a 15.53% year-to-date gain. This was triggered by Profit taken and sell off in on AIRTELAFRI (-1.72%) and decline in small cap stock such as Lasaco Assurance (-10%) Sovereign Trust Insurance (-9.84%), Unity Bank (-9.63%) and Secure Electronic Technology (-9.52%).
  • Oil prices slumped by 4% on Thursday after Fed Chair Jerome Powell told Congress that further interest rate hikes are coming in the second half of the year after a pause last week. WTI Crude, traded at US $69.38, down by 4.35% on the day. The international benchmark, Brent Crude, was falling by 4.02% and traded at US $74.02.
  • The Naira depreciated at both markets. At the I & E window, Naira was down 3.32% to N763.13, also, depreciated at the street market, down 0.88% to N766.67. This brings the difference between the two rates to 0.32%, or N3.
  • US natural gas futures increased slightly by 0.23% to  $2.60/MMBtu as investors continue to monitor the amount of gas flowing to US LNG export plants and weather forecasts.

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