Markets
| % Change | YTD (%) | ||
| NGX ASI | 52,579.52 | 0.22% | 2.59% |
| Brent Crude Oil | 76.68 | 3.86% | -10.74% |
| Natural Gas | 2.20 | 2.71% | -46.34% |
| I&E FX Window | 462.78 | -0.02% | -3.29% |
| Parallel Market | 742.00 | -1.37% | -0.27% |
| Gold | 2,024.48 | 0.38% | 11.59% |
| Cocoa | 3,178.00 | 2.22% | 21.96% |
- The benchmark NGX All-Share Index (ASI) inched up 114.21 (0.22%) points to close at 52,579.52, representing a 1-week gain of 0.34%, a 4-week loss of 2.96%, but an overall year-to-date gain of 2.59%. Banking Index increased by 0.62%, while consumer good index improved by 0.56%.
- Oil rose almost 4% on Monday as U.S. recession fears eased, with the expectation that trading this week will end three straight weekly declines for the first time since November. Brent crude was up 3.86%, at $76.68 a barrel. Oil’s rebound follows energy stocks’ comeback on Wall Street last Friday after the U.S. reported strong job data, easing concerns about an imminent economic recession.
- The Naira depreciated marginally by 0.02% at the I & E window as the rate closed N462.78/$ and at the parallel market closed at N742/$, indicating at 1.37% depreciation
- U.S. natural gas futures gained about 3% to a one-week high on Monday on small declines in daily output despite forecasts for milder weather and less demand over the next two weeks than previously expected.
