Markets
| % Change | YTD (%) | ||
| NGX ASI | 63,757.23 | -0.01% | 24.4% |
| Brent Crude Oil | 79.90 | 0.34% | -7.00% |
| Natural Gas | 2.63 | -0.11% | -35.85% |
| I&E FX Window | 793.73 | -6.36% | -77.15% |
| Parallel Market | 820.00 | -2.34% | -10.81% |
| Nigerian Treasury Bill (Average Yield %) | 6.11% | 0.00% | -0.33% |
| FGN Bonds (Average Yield %) | 12.94% | -0.05% | 9.48% |
| Gold | 1,976.98 | -0.09% | 6.96% |
| Cocoa | 3,422.00 | 0.76% | 31.32% |
- The equities market largely remained flat Wednesday, as the NGX ASI (Nigerian Exchange All-Share Index) dropped by 0.01%, concluding the day at 63,757.23 points, a decrease of 9.49 points from Tuesday. It means a loss of 0.45% over the past week, a gain of 8.04% over the past four weeks, and an overall year-to-date gain of 24.4%. Key share price movements include Geregu Power (- 10%), Prestige Assurance Company (-10%), FTN Cocoa Processors (-9.61%), and Linkage Assurance (-9.09%).
- Oil prices gained on Wednesday, buoyed by tighter U.S. crude supplies, China’s pledge to reinvigorate its economic growth and expectations that the U.S. Federal Reserve will stop raising interest rates soon. Brent futures were up 27 cents at US $79.90 a barrel while U.S. West Texas Intermediate (WTI) crude rose 21 cents at US $75.96.
- Naira weakened further at the I & E and on the streets, reflecting a depreciation trend, 6.36% at the I & E, closing at N793.73 against the US dollar, and 2.34% on the streets, reaching a value of N820.
- Natural gas futures experienced a slight decline of 0.11% on Wednesday, prices remaining relatively stable, hovering around the mid-point of their 45-day range.
