27th July 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI65,687.16-0.46%28.17%
Brent Crude Oil   83.16-0.57%-2.58%  
Natural Gas2.65-3.11%-35.37%
I&E FX Window 740.086.45%-65.16%
Parallel Market  854.001.91%-15.41%
Nigerian Treasury Bill (Average Yield %)4.04%-0.02%-33.93%
FGN Bonds (Average Yield %)13.13%0.23%11.08%
Gold  1,970.940.37%8.64%
Cocoa 3,563.002.68%36.73%
  • NGX ASI (Nigerian Exchange All-Share Index) declined 0.41% in Wednesday trading, shedding 303.86 points to close at 65,687.16, representing a week gain of 3.03%, a 4-week gain of 10.7%, and an overall year-to-date gain of 28.17%. Seplat Petroleum Development Co. led the gainers with 10% share price appreciation closing at NGN 1,693.60 per share, followed by NCR Nigeria (+10%), Courteville Business Solutions (+10%) and FTN Cocoa Processors (+9.92%).
  • Oil prices dipped on Wednesday. Brent crude futures down 48 cents, or 0.8 %, at US $83.16 a barrel while U.S. West Texas Intermediate (WTI) crude was at US $78.92, down 68 cents, or 0.9%.
  • Supply concerns remain, fueling the divergence between the rates at the I & E window and that on the streets. Yesterday, Naira closed at N740.08 at the I & E window, appreciating by 6.45% while it reached N854 on the streets, appreciating by 1.91%, both against the US dollar.
  • U.S. natural gas futures slid over 3% on forecasts of less demand this week and less hot weather over the next two weeks than previously expected.

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