Markets
| % Change | YTD (%) | ||
| NGX ASI | 59,211.26 | -0.19% | 15.53% |
| Brent Crude Oil | 74.02 | -4.02% | -13.38% |
| Natural Gas | 2.60 | 0.23% | -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.
