The average yield on Nigerian Treasury bills (NTB) climbed by 12 basis points (bps) in the secondary market on Wednesday as investors sold off naira assets.
Oil prices dipped below $90 per barrel on Friday as the US and Iran inch close to an agreement that could see the reopening of the Strait of Hormuz in the coming days.
The European Central Bank (ECB) raised its three key policy rates by 25-basis points at its June 2026 meeting, marking its first hike since 2023.
The South African rand slid against major currencies as the World Bank reduced its estimate of the country’s 2026 gross domestic product (GDP) growth.
Global equities markets rally on AI and tech stock momentum following a marked shift towards risk assets on signals of easing US-Iran tensions.
Fitch Ratings has affirmed African Development Bank’s (AfDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a stable outlook.
Alternative investment market
Ripple (XRP) slipped to $1.10 on Thursday from $1.13, as the price failed to respond positively to improved fundamentals and underperformed a slightly positive broader market.
Binance coin (BNB) price rose by 1% to $600 on Thursday, slightly outperforming a modest market-wide bounce, driven by a relief rally following softer-than-expected U.S. core inflation data.
Ethereum (ETH) price rose slightly in the cryptocurrency market on Thursday, following a surge in the US inflation rate to 4.2% in May and renewed tensions between Washington and Tehran.
Bitcoin price (BTC) climbed by about 2% over the past 24 hours to $62,756, outperforming a modestly rising broader market, primarily driven by a macro relief rally.
Companies
Equities investors lost about N73 billion as the Nigerian Exchange (NGX) All-Share Index (ASI) dipped on Thursday ahead of the Democracy Day holiday.
INSIDE AFRICA
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Business
Consumer spending patterns are shifting in ways that matter deeply to investors and policymakers tracking emerging markets. Digital leisure, encompassing streaming subscriptions, online gaming platforms, and connected device upgrades, is increasingly claiming a larger share of household discretionary budgets.