Below is the Ventures Africa Weekly Economic Index, for the week ending 3rd of January, 2020. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy:
Nigerian Stock Exchange
Data released by the Nigerian Stock Exchange (NSE) as of January 3rd 2020, showed that the NSE All-Share Index and Market Capitalization appreciated by 2.09 percent to close the week at 26,968.79 and N13.019 trillion respectively. All other indices finished higher with the exception of NSE ASeM Index, which closed flat.
Top five price gainers and decliners in the week under review:
Top five price gainers
Cornerstone Insurance Plc.
Eterna Plc.
Royal Exchange Plc.
Vitafoam Nig Plc.
Axamansard Insurance Plc.
Top five price decliners
Fidson Healthcare Plc.
Union Bank Nig. Plc.
Deap Capital Management and Trust Plc.
Omatek Ventures Plc.
Learn Africa Plc.
How did the Naira fare?
The Nigerian currency rose against the dollar at the close of last week, trading at 363 Naira per dollar, the same rate recorded a week before.
How did the price of oil fare?
Brent oil prices closed out the week on the 3rd of January, 2020 at $68.68 per barrel. Global oil prices on Friday hit $69.16 per barrel, after the United States conducted an airstrike at the Baghdad Airport in oil-rich Iran, killing Major-General Qassem Soleimani. Prices jumped nearly $3 with the international oil benchmark, Brent crude reaching its highest since September 17, 2019, CNBC reported.
