Markets
| % Change | YTD (%) | ||
| NGX ASI | 65,991.02 | 1.11% | 28.76% |
| Brent Crude Oil | 83.60 | 1.04% | -2.69% |
| Natural Gas | 2.72 | 1.04% | -33.66% |
| I&E FX Window | 791.42 | 0.13% | -76.54% |
| Parallel Market | 871.75 | -0.58% | -17.70% |
| Nigerian Treasury Bill (Average Yield %) | 4.05% | -0.02% | -33.93% |
| FGN Bonds (Average Yield %) | 12.89% | -0.06% | 9.05% |
| Gold | 1,962.85 | 0.43% | 8.19% |
| Cocoa | 3,470.00 | 1.55% | 33.16% |
- Equity market sustained the positive gains started Monday, with NGX ASI up by 1.11%, increasing by 722.74 points to close at 65,991.02, representing a week gain of 3.49%, a 4-week gain of 11.46%, and an overall year-to-date gain of 28.76%. Key share price movement include Ikeja Hotels (10%), FTN Cocoa Processors (10%), Seplat Petroleum Development Co. (9.99%) and Skyway Aviation Handling Co. (9.83%).
- Oil prices rose again Tuesday on optimistic forecasts published by the International Monetary Fund (IMF), raising its 2023 global growth estimates by 0.2 to 3%. WTI traded at US $79.70 up $0.96 (1.22%) on the day while Brent crude rose above $83, up $0.86 (+1.04%).
- At the I & E window, Naira remained largely flat, appreciating by 0.13% and closed at N791.42 against the US $. On the streets, Naira saw a modest depreciation of 0.58%, reaching a value of N871.75 against the US dollar. The gap is between the two rates are widening.
- US natural gas futures traded around $2.7/MMBtu on Tuesday, following a 6.9% gain in the previous week driven by expectations of heightened demand for air conditioning amid hotter-than-usual weather forecasts until at least August 4.
