4th May 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI 52,207.77-0.17%1.87%
Brent Crude Oil   72.35-3.9%-16.19%  
Natural Gas2.12-4.2%-48.29%
I&E FX Window 462.33-0.03%-3.22%
Parallel Market  737.00-0.55%0.41%
Gold  2,022.000.33%11.45%
Cocoa 2,990.00-4.47%14.74%
  • The benchmark NGX All-Share Index (ASI) passed 88.71 (-0.17%) points to close at 52,207.77, representing a 1-week gain of 1.17%, a 4-week loss of 2.6%, but an overall year-to-date gain of 1.87%. The decline is attributable to sell off in Transcorp (-9.4%), MTNN (-0.65%) and other cap stocks.
  • On Wednesday, Oil prices extended losses on Wednesday after plunging 3.9% to $72.35, as investors fret about the outlook of the U.S. economy ahead of an expected Federal Reserve interest rate hike later in the day. The Fed raised interest rate by 0.25% to 5% – 5.25% range.
  • The Naira depreciated marginally by 0.55% at the parallel market to close at N737/$ and declined by 0.03% at the I & E window, closing at N462.33/$.
  • Natural gas extended its decline by 4.2% to close at US $2.1, trading at a 21-month low amid record LNG sales and rising stockpiles. 
  • Zenith Bank Plc has said it will pay its shareholders N100.47 bn dividend for the 2022 financial period, bringing total dividends for the 2022 financial year to N3.20 per share.
  • Guaranty Trust Holding Company Plc (GTCO) has recorded a Profit before Tax (PBT) of N74.1 billion for the three-month period ended March 31, an increase of 36.5 per cent over N54.3 billion recorded in the corresponding period last year. It added that the group’s loan book (net) dipped by 1.5 per cent from N1.88 trillion recorded as at Dec. 2022 to N1.86 trillion in March 2023.

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