Markets
| % Change | YTD (%) | ||
| NGX ASI | 52,465.31 | 0.33% | 2.37% |
| Brent Crude Oil | 75.3 | 3.86% | -11.73% |
| Natural Gas | 2.14 | 1.71% | -47.80% |
| I&E FX Window | 462.25 | 0.08% | -3.16% |
| Parallel Market | 732.00 | 0.68% | 1.08% |
| Gold | 2,016.28 | -1.70% | 11.14% |
| Cocoa | 3,109.00 | 1.87% | 19.31% |
- The Nigerian stock market ended last week on a flat note. Benchmark NGX ASI climbed 174.56 (0.33%) points to close at 52,465.31, a 1-week gain of 0.44%, a 4-week loss of 3.26%, but an overall year-to-date gain of 2.37%. Key share price movement include Seplat (5.35%), Oando (1.82%), Access Corp (5.14%), GTCO (0.21%), FBNH (0.91%), Zenith (0.21%), and UBA (0.64%).
- Last week was on track to go down as one of the worst for oil prices in recent months, with both Brent and WTI shaving off some 10% week-on-week before a slight recovery on Friday as Brent Crude increased by 3.86%. Oil price movement has been driven by renewed fears of a US banking crisis contagion and lukewarm industrial figures from China. Hijacked tankers in the Strait of Hormuz, falling US inventories, and the lack of a deal to unlock Kurdish oil exports all failed to offset the macroeconomic doom and gloom.
- The Naira appreciated marginally by 0.08% at the I & E window as the rate closed N462.25/$ and at the parallel market closed at N732/$, indicating at 0.68% appreciation.
- Natural gas futures found their footing on Friday, ending a four-day losing streak that was fueled by a litany of bearish fundamentals. The Natural gas future increased by 1.71% and settled at US$2.14
