Market Roundup 29th September 2023


  % ChangeYTD (%)  
NGX ASI66,448.63-0.31%29.65%
EGX 3020,174.280.00%23.76%
Brent Crude Oil   94.95-1.66%10.52%  
Natural Gas2.931.00%-28.54%
I&E FX Window  775.51-2.68%-73.09%
Parallel Market  955.002.55%-29.05%
Nigerian Treasury Bill (Average Yield %)7.83%0.18%27.73%
FGN Bonds (Average Yield %)14.66%0.01%24.03%
Gold  1,865.4-0.62%2.80%
Cocoa 3,455.000.41%32.59%
  • Oil futures slid about 2% on Thursday, as traders took profits after prices earlier soared to 10-month highs and some worried that high interest rates may weigh on western economies and oil demand. On its second to last day as the front-month, Brent futures for November delivery fell US $1.65, or 1.7%, to US $94.90 a barrel by 1:51 p.m. EDT (1751 GMT). Brent December futures , which will soon be the new front-month, were down 1.6% to US $92.90 per barrel. U.S. West Texas Intermediate crude (WTI) fell US $2.20, or 2.4%, to US $91.48 per barrel
  • U.S. natural gas futures edged up about 1% to a nine-week high on Thursday on forecasts for more demand this week than previously expected. That increase came ahead of a federal storage report expected to show a near-normal build last week and forecasts for milder weather and less demand next week than previously expected.

ThinkBusiness Africa

Your daily dose of contexts, commentary, and insights on business and economic developments that matter to you.