30th May 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI 52,973.88       –3.36%
Brent Crude Oil   76.63-0.42%-10.80%  
Natural Gas2.35-2.65%-42.68%
I&E FX Window 464.51    –              -3.67%
Parallel Market  7680.13%-3.68%
Nigerian Treasury Bill (Average Yield %)6.95%    –13.08%
FGN Bonds (Average Yield %)14.33   –21.24%
Gold  1,946.530.03%7.29%
Cocoa 2,991.00-0.86%14.78%
  • Markets closed in Nigeria yesterday as a new President and 28 governors were sworn in.
  • Oil prices slipped on Monday as worries over further interest rate hikes that could curb energy demand trumped a tentative U.S. debt ceiling deal. Brent crude futures slipped 46 cents, or 0.42%, to $76.63 a barrel while U.S. West Texas Intermediate crude was at $72.44 a barrel, down 24 cents, or 0.3%.
  • Following the swearing in of President Bola Ahmed Tinubu, Naira appreciated at 0.12% to close at N768/$.
  • Natural gas futures slid about 2.65% to US$2.35 on Monday. The U.S. Energy Department’s weekly inventory release showed a lower-than-expected increase in natural gas supplies. Despite the positive inventory numbers, futures slumped nearly 16% week over week, overwhelmed by expectations for comfortable temperatures and, therefore, lighter heating or cooling demand.

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