6th July 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI61,523.811.33%20.04%
Brent Crude Oil   76.700.6%-11.08%  
Natural Gas2.71-0.04%-33.90%
I&E FX Window 742.313.40%-65.68%
Parallel Market  775.67-0.28%-4.82%
Nigerian Treasury Bill (Average Yield %)6.18%-0.02%0.82%
FGN Bonds (Average Yield %)13.170.10%11.42%
Gold  1,920.67-0.22%5.87%
Cocoa 3,341.001.06%28.21%
  • The equities market rebounded Wednesday. NGX All-Share Index (ASI) increased by 808.77 (1.33%) points to close at 61,523.81, showing a week gain of 2.55%, a 4-week gain of 8.79%, and an overall year-to-date gain of 20.04%. Key share price movement include Learn Africa (+9.97%), Golden Guinea Breweries (+9.95%), Chellarams (+9.77%), John Holt (+9.62%), TRANSCOHOT (+8.95%), BUACEMENT (+9.44%), PRESCO (+7.73%), CONOIL (+5.68%) and ACCESSCORP (+4.37%),
  • Brent crude oil prices were little changed on Wednesday. The Brent benchmark was up 45 cents, or 0.6%, at US $76.70 a barrel after falling more than US $1 in early trade.
  • Naira displayed a mixed performance in the market. At the I & E window, there was a significant appreciation of 3.40%, closing at N742.31 against the US dollar. On the streets, Naira experienced a slight depreciation of 0.28%, reaching N775.67 against the US dollar.
  • U.S. natural gas futures declined slightly  by 0.04% to close at US $2.71, triggered by increased supply in the US, including the resumption of operations at the Freeport LNG export facility, a mild winter experienced in the northern hemisphere during 2022-23, and strong stockpiles in Europe.

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