23rd May 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI 52,621.190.48%2.67%
Brent Crude Oil   77.151.53%-11.36%  
Natural Gas2.38-0.83%-41.95%
I&E FX Window 464.420.15%         -3.65%
Parallel Market  760-0.18%-2.70%
Nigerian Treasury Bill (Average Yield %)6.96%-0.01%13.54%
FGN Bonds (Average Yield %)14.32-0.02%21.15%
Gold  1,966.88-0.09%8.42%
Cocoa 3,027.000.13%16.2%
  • NGX All-Share Index (ASI) climbed 252.06 (0.48%) points to close at 52,621.19, representing a 1-week gain of 0.39%, a 4-week gain of 2.46%, and an overall year-to-date gain of 2.67%. The positive movement can be attributed to a combination of bargain hunting on low priced stocks and renewed buying interest in banking stocks and consumer goods like Transcorp (9.85%), Unilever (9.70%), ACCESSCORP (3.45%), DANGOTE SUGAR (1.07%), FBNH (7.54%), GTCO (2.02%), PZ (8.82%), STANBIC (5.33%) and ZENITH (2.08%)
  • Oil prices rose by nearly 2% on Tuesday after the Saudi energy minister warned short sellers to “watch out” and as seasonal demand for fuel is set to rise at the start of the U.S. driving season this weekend. WTI Crude, the U.S. benchmark, was up by 1.93% at $73.44. The international benchmark, Brent Crude, traded at $77.15, up by 1.53%.
  • The Naira appreciated at the I & E window by 0.15% to close at N464.42/$. However, it depreciated at the parallel market by 0.18% to close at N760/$.
  • Natural gas futures extended their losses yesterday as traders mulled a less-than-inspiring cooling demand outlook and as momentum from last week’s supportive inventory data continued to fade into the rearview. Natural gas futures declined by 0.83% to close at US$2.38.

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