4th August 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI65,263.061.55%27.34%
Brent Crude Oil   85.142.49%-0.74%  
Natural Gas2.553.11%-37.80%
I&E FX Window 776.5-4.71%-73.31%
Parallel Market  865.000.29%-16.89%
Nigerian Treasury Bill (Average Yield %)6.59%0.00%7.50%
FGN Bonds (Average Yield %)13.35%0.05%12.94%
Gold  1,933.780.02%6.59%
Cocoa 3,491.00-1.77%33.97%
  • The market sustained the positive sentiment on Thursday as the benchmark NGX All-Share Index (ASI) increased by 995.70 (1.55%) points to close at 65,263.06, representing a 1-week loss of 0.34%, a 4-week gain of 5.23%, and an overall year-to-date gain of 27.34%. Nigerian Breweries led gainers with 10% share price appreciation closing at NGN 41.80 per share, followed by PZ Cussons Nigeria (+10%), Sterling Bank (+10%) and Chellarams (+9.96%).
  • Oil prices rose over 2% on Thursday as Saudi Arabia and Russia took steps to keep supplies tight into September and possibly beyond. Brent futures rose US $1.94, or 2.3%, to settle at US $85.14 a barrel, while U.S. West Texas Intermediate crude rose US $2.06, or 2.6%, to settle at US $81.55.
  • At the I&E window, Naira depreciated by 4.71% to close at N776.5 against the US dollar. However, on the streets, Naira largely stayed flat at N865 against the US dollar.
  • US natural gas futures rose to over US $2.55/MMBtu, rebounding from the seven-week low of US $2.48 amid prospects of robust demand and evidence of lower supply.

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