8th August 2023 Africa Markets Roundup


  % ChangeYTD (%)  
NGX ASI65,336.800.21%27.48%
Brent Crude Oil   85.36-1.02%-0.64%  
Natural Gas2.735.78%-33.41%
I&E FX Window 774.78-4.17%-72.76%
Parallel Market  887.50-1.14%-19.93%
Nigerian Treasury Bill (Average Yield %)6.59%0.00%7.50%
FGN Bonds (Average Yield %)13.43%0.00%13.62%
Gold  1,933.50-0.43%6.58%
Cocoa 3,461.00-1.40%32.82%
  • The Nigerian equities market started the first trading week on a positive note as the benchmark NGX All-Share Index (ASI) inched up 138.72 (0.21%) points to close at 65,336.80, representing a week gain of 1.55%, a 4-week gain of 1.13%, and an overall year-to-date gain of 27.48%. Nigerian Enamelware led the gainers with 9.86% share price appreciation closing at NGN 19.50 per share, followed by Wema Bank (9.77%), University Press (9.73%) and Sunu Assurances Nigeria (9.68%).
  • Brent crude futures eased toward US $85 per barrel on Monday, hovering close to their four-month high following six weeks of consecutive gains.
  • Naira was down at the I & E and on the streets. At the I&E window, Naira depreciated by 4.17%, closing at N774.78 against the US dollar. However, in the street market, the Naira down by 1.14%, reaching N887.5 against the US dollar.
  • US natural gas futures extended gains to over US $2.7/MMBtu, the highest in nearly two weeks driven by expectations of heightened demand for air conditioning.

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