Markets
| % Change | YTD (%) | ||
| NGX ASI | 64,192.20 | -0.23% | 25.25% |
| Brent Crude Oil | 84.91 | -0.55% | -1.12% |
| Natural Gas | 2.57 | -2.58% | -37.32% |
| I&E FX Window | 789.08 | -1.74% | -76.11% |
| Parallel Market | 867.50 | -0.29% | -17.23% |
| Nigerian Treasury Bill (Average Yield %) | 6.69% | 0.02% | 9.14% |
| FGN Bonds (Average Yield %) | 13.26% | 0.03% | 12.18% |
| Gold | 1,943.98 | -1.01% | 7.15% |
| Cocoa | 3,524.00 | 0.56% | 36.54% |
- The benchmark NGX All-Share Index (ASI) declined 718.87 (-1.1%) points to close at 64,337.52, representing a week loss of 1.43%, a 4-week gain of 3.86%, and an overall year-to-date gain of 25.53%. Key share price movement include Dangote Sugar Refinery
(-10%), Ecobank Transnational (-10%), Livestock Feeds (-10%) and NPF Microfinance Bank (-10%).
Corporate Results – Notore has recorded revenue of N7.92 billion Q2 2023, following a very challenging period for the company with disruption to its gas supply. Lasaco Assurance Plc has said it will pay 15 kobo dividends on every share, translating to a total value of N183m for the financial year ended 31st December 2022. BUA Cement reported a 17.2% y/y revenue growth to N221.07 billion in H1 2023 from N188.56bn in the prior period (H1 2022).
- Oil prices edged lower on Tuesday. Brent crude futures for October settled at US $84.91 a barrel on Tuesday, down 52 cents or 0.6%. Front-month Brent settled on Monday at its highest since April 13. U.S. West Texas Intermediate crude futures closed at US $81.37 a barrel, down 43 cents, or 0.5%, from the previous session’s settlement, which was its highest since April 14.
- Naira was down at the official and street markets. At the I&E window, the Naira depreciated by 1.74%, resulting in a closing rate of N789.08 against the US dollar. Simultaneously, in the street market, the Naira slid slighty by 1.75%, down to N867.50 against the US dollar.
- U.S. natural gas futures fell around 3% on Tuesday on forecasts for less demand over the next two weeks than previously expected.
