Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Financial market update

    Financial market update

    March 15, 2013
    Share
    Facebook Twitter LinkedIn WhatsApp

    14 March 2013, Sweetcrude, Lagos – Local and international financial market update.
    NIGERIA: The Central Securities and Clearing System (CSCS) Plc, the clearing house of the Nigerian capital market, has made a case for a single central securities depository (CSD) for the country. CSCS has been performing the functions of securities clearing settlement and CSD in the capital since 1997. However, there are strong indications that the Central Bank of Nigeria (CBN) is planning to provide CSD services very soon.

    EUROPE: European shares recouped most of their earlier losses to end flat near 4-1/2-year highs on Wednesday, after robust U.S. retail sales data pointed to continued recovery in the world’s biggest economy. The FTSEurofirst 300 index of top European shares provisionally ended flat at 1,194.07 points, after hitting an intra-day low of 1.188.98. U.S. retail sales rose more than expected in February.

    INDIA: India’s inflation unexpectedly accelerated in February from a three-year low, limiting scope for the central bank to cut interest rates as the authority prepares to review monetary policy next week. The wholesale-price index rose 6.84 percent from a year earlier, after climbing 6.62 percent in January, the Commerce Ministry said in a statement in New Delhi today.

    CHINA: Chinese stocks fell in Hong Kong, dragging the benchmark index down 9.9 percent from its peak, amid concern the government will take steps to avert asset bubbles. Stocks in Shanghai rose for the first time in six days. The Hang Seng China Enterprises Index retreated 0.3 percent as of 3:13 p.m. in Hong Kong. The Shanghai Composite Index closed 0.3 percent higher at 2,270.28, following a five-day, 3.6 percent losing streak.

    Bonds – Volatile session yesterday ahead of the auction results as market remained unsure of the direction of rates at the auction. Market opened bullish yesterday but sold off to close as uncertainty crept in on the back of low participation from offshore at the auction even though onshore liquidity was significant enough.

    Bills – Demand in the markets was weak and markets relatively quiet on Wednesday as the naira weakened against the dollar, with markets trading cautious.

    Money Market – OBB and unsecured O/N stable at 10.50% and 10.75% on Wednesday.

    CBN WDAS AUCTION- CBN offered and sold $180m. Marginal rate at 155.76 naira, compared with 155.75 at previous sale on March 11.

    Indicative Currency Exchange Rates
    Bid             Offer

    EURUSD       1.2948           1.2958
    GBPUSD       1.4942            1.4952
    USDJPY        96.21               96.61
    USDCHF        0.9545          0.9565
    GBPEUR        1.1539            1.1549
    USDZAR       9.2340            9.3340
    USDNGN       158.30          159.05
    JPYNGN        1.6454            1.6954
    CHFNGN       165.85            169.85
    EURNGN       204.97            208.97
    GBPNGN        236.53           240.53
    ZARNGN        17.14               19.14

    Commodities
    West Texas Intermediate oil traded near the highest level in two weeks, shrinking its discount to Brent to the narrowest since January. U.S. crude supplies rose and the International Energy Agency cut its demand outlook. WTI for April delivery was at $92.34 a barrel, down 18 cents, in electronic trading on the New York Mercantile Exchange at 10:36 a.m. Sydney time.

    Interest rates
    NIBOR (%)                         LIBOR (%)

    O/N              10.9583             USD 1 month       0.2032
    7 Day            11.2083              USD 2 month      0.2415
    30 Day         11.5000              USD 3 month      0.2801
    60 Day         11.7917                USD 4 month      0.3321
    90 Day         12.0000             USD 6 month       0.4449
    USD 12 month      0.7300
    Y/Y Consumer Inflation January 2013 :          9.00%
    FX Reserves: 12 March 2013 (USD bn)            48.173
    MPR                                                                        12.00%
    Source: Reuters, Bloomberg, Central Bank of Nigeria, Financial Market Dealers Association Standard Chartered Bank Nigeria.

    Fx
                                  Hi               Low         Close          Prev.Close
    USD/NGN     158.95/05   158.42/52  158.78/88    158.45/55

    Related News

    MAJI urges FG to ban single-use plastics, attract green investment

    Indonesia eyes Nigeria for trade, investment expansion

    Renewables to account for half of Brazil’s annual power output in 2035

    E-book
    Resilience Exhibition

    Latest News

    US oil/gas rig count falls for 6th week to 2021 lows – Baker Hughes

    June 8, 2025

    Demand for US light sweet crude drops as OPEC+ ramps up output

    June 8, 2025

    ‘Ebonyi communities face pollution, abuse from Chinese mining firms’

    June 8, 2025

    Nigeria loses N710bn to gas flaring in four months

    June 8, 2025

    NNPCL cuts workforce by 197 employees in one year

    June 8, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.