29th May 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI 52,973.880.29%3.36%
Brent Crude Oil   76.950.90%-10.43%  
Natural Gas2.42-2.38%-40.98%
I&E FX Window 464.510.11%         -3.67%
Parallel Market  769-3.22%-3.92%
Nigerian Treasury Bill (Average Yield %)6.95%-0.04%13.08%
FGN Bonds (Average Yield %)14.330.00%21.24%
Gold  1,945.930.29%7.26%
Cocoa 2,991.00-0.86%14.78%
  • The benchmark NGX All-Share Index (ASI) rose 152.28 (0.29%) points on Friday to close at 52,973.88, a 1-week gain of 1.51%, a 4-week gain of 1.41%, and an overall year-to-date gain of 3.36%.
  • Brent crude closed at $76.95 a barrel, up 69 cents, or 0.9%. The West Texas Intermediate crude oil price in the United States rose 84 cents, or 1.2%, to $72.67 a barrel. On a weekly basis, both benchmarks gained for the second week in a row, with Brent rising 1.7% and WTI rising 1.6%.
  • Naira appreciated at the I & E window on Friday exchanging at N464.51 to the dollar a 0.11 percent increase against the N465.00 to the dollar traded on Thursday. However, at the parallel Market, Naira depreciated at 3.22% to close at N769/$.
  • Natural gas futures slid about 2.38% to US$2.42 on Friday despite the U.S. Energy Information Administration (EIA), reporting an underwhelming storage build for a second week in a row that suggested the oversupplied market may be turning the corner on fundamentals.

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