GLOBAL ECONOMY
UNITED STATES
- US ramps up tariff rates between 15% and 50% targeting countries without finalized trade deals amidst global trade tensions as manufacturing PMI contracts to 49.50, but job market holds firm as Initial jobless claims dropped to 217,000
UNITED KINGDOM
- The British Pound slipped to £1/$1.35 as Bank of England is expected to cut rate in August as UK borrowing soars to £20.70billion in June 2025 and car exports plunge to 6.50% year-on-year amidst inflation pressure
EUROZONE
- Euro strengthens near €1/$1.18 as European Central Bank (ECB) holds rates at 2.15% with inflation hitting the ECB’s 2.00% target. Eurozone PMI also rose to 51 with first job gains in 5 months despite trade tensions
CHINA
- Yuan falls to ¥7.15/$1 ahead of US-China talks as China holds rates steady at 3,00% and 3.50% with Q2 GDP at 5.20% and rare earth exports to US increased by 660% in June. Jobless rate steady at 5.00%
GLOBAL MARKETS
- This week, US stocks closed high as investors digested trade developments and corporate earnings with optimism around trade talks. Compared to last week, the Dow Jones, S&P 500 and Nasdaq indices increased by 1.26%, 1.46% and 1.02% to close at 44,901.92, 6,388.64 and 21,108.32 respectively.
- In the UK and across Europe, major stocks dropped to trim initial gains during the week as Investors digested several corporate earnings. London’s Financial Times Stock Exchange (FTSE) 100 and France Cotation Assistéeen Continu (CAC) 40 indices increased by 1.46% and 0.15% to 9,123.25 and 7,834.58 while Germany’s Deutscher Aktien (DAX) decreased by -0.35% to 24,204.02.
- The Asian stock market closed high last week with major stocks closing positive as Investors sentiment albeit cautious, was positive over the renewed US-China trade talks. The Hang Seng and Topix indices increased by 2.27% and 4.14% to 25,388.35 and 2,951.86 respectively.
NIGERIAN ECONOMY
- Nigeria’s Economy expands 3.13% year-on-year in Q1 2025 up from 2.27% in Q1 2024, led by services at 4.33% and industry at 3.42%, as nominal GDP hits ₦94.05trillion.
- The Federation Account Allocation Committee (FAAC) disburses ₦1.82trillion in June 2025, up 9.60%; FG gets ₦645.40billion, states ₦607.40billion.
- CBN voted to hold rates at the 301st Monetary Policy Committee (MPC) meeting, holding the Monetary Policy Rate (MPR) at 27.50% while also confirming that 8 banks have met the capital targets as investor confidence grows saying that the banking sector posts 13% Capital Adequacy Ratio (CAR), 50% liquidity ratio, non-performing loans (NPLs) below 5%
NIGERIAN BONDS MARKETS
- In the Bonds market, the average yield for the short-tenor bond remained unchanged at 16.78%, while the mid-tenor and long-tenor bonds decreased by 43bps and 7bps to 16.18% and 15.83% respectively.
NIGERIAN TREASURY BILLS MARKETS
- The Nigerian Treasury Bills (NTB) market average yield decreased further week-on-week by 3bps to 16.20%.
THE EQUITIES MARKET
- The NGX All-Share Index and Market Capitalization appreciated by 2.18% to close the week at 134,452.93 and ₦85.06trillion respectively, up from 131,585.66 and ₦83.24trillion last week, as Investors traded a total turnover of 3.69 billion shares worth ₦112.26billion in contrast to last week’s total of 17.50 billion shares valued at ₦500.76billion in 142,082 deals.
CURRENCY
TOP TRADES BY VOLUME
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TOP GAINERS
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