NGE News and Press, Global X MSCI Nigeria From 05/26/22

The MENA region, driven by large GCC oil exporters, is set to benefit from noticeably higher near-term oil and gas prices due to the Russia-Ukraine war and the implications of sanctions on Russia for global energy markets, with oil-exporting countries' governments likely to spend more to ...

The Central Bank of Nigeria's monetary policy committee has decided to hike its policy interest rate for the first time since July 2016, Governor Godwin Emefiele said Tuesday, as reported by Bloomberg.  Specifically, the benchmark rate was lifted by 150 basis points to 13%, while only 20...

The Russian invasion of Ukraine and the subsequent imposition of sanctions by a range of governments have served to reset the global geopolitical compass, with an immediate impact on oil and gas markets and investments. Elevated prices and new sources of demand will create opportuniti...

Risk-off sentiment prevailed in Q1 2022 as geopolitical tensions flared and the Omicron variant became a stumbling block for many countries. The U.S.-based S&P 500 decreased by 4.6% in Q1 2022, outperforming both the MSCI Emerging Markets Index and MSCI All Country World Index. ...

EM debt currently offers value to investors with a medium- to long-term horizon and a willingness to tolerate a period of higher volatility. EM sovereign high-yield spreads are particularly compelling, especially relative to U.S. high-yield debt. Longer term, we believe the outloo...

The MENA region has benefited from higher oil prices, driven by the Russia-Ukraine war, concerns around the Iranian nuclear talks and a significant drop in oil supply during the pandemic. ESG disclosures have been improving in the MENA region, with the UAE and Egypt making ESG disclos...

Sonatrach made the second hydrocarbon discovery in the Liassic play of the Benoud Trough with the drilling of the Ouled Sidi Cheikh 1 (OSC-1) wildcat. If the initial success in the Benoud Trough is confirmed, as OSC-1 suggests, this would be a big breath of fresh air for the Algerian ...

The S&P Global Sub-Saharan Africa PMI posted at 52.3 in March, remaining above the 50.0 neutral mark. The gap between output and orders was the largest seen for five months and reflected the trend seen throughout much of 2021 during the worst of the pandemic-led supply chain crisi...

In an effort to boost economic growth, the Central Bank of Nigeria on Monday has decided to keep its benchmark interest rate the same for the ninth consecutive time. While inflation is sticking above the central bank's 9% target, six members of the monetary policy committee who attended Monda...

Pandemic risks persist, yet are expected to be short-lived. Higher oil prices should support growth and public investment. Regional/intraregional politics continue to provide uncertainty. Higher interest rates bode well for the overall banking sector. There appears to be a...