Wealth Wednesday: Global Markets Steady as Nigerian Banks Boost Capital and Reserves Hit 13-Year High
Ranora Daily - Your daily source for reliable market analysis and news.
Market Overview
Good evening and welcome to today’s market briefing, Global markets show cautious optimism, with U.S. and European equities mostly higher. Oil prices ease despite Saudi output boosts and OPEC+ planning modest hikes, while gold and silver strengthen. In Nigeria, banks raise ₦4.05 trn ahead of recapitalization, and CBN external reserves hit $50.45 bn, the highest in 13 years. Currency markets are stable, supporting a balanced risk sentiment and trade corridors.
Nigerian News & Market Update
DEAP Capital bolsters board with Saudi Mining Exchange founding CEO appointment:
DEAP Capital has appointed Lamon Rutten, founding CEO of the Saudi Mining Exchange and seasoned global commodities executive, to its board to drive strategic growth in mineral finance. - Punch
CBN says banks have raised ₦4.05trn as 13 near recapitalization finish line:
Nigeria’s banks have mobilized ₦4.05 trillion in capital ahead of the March 31 recapitalization deadline, with 20 meeting new requirements and 13 close to completion. - TheSun
Nigeria’s external reserves hit a 13-year high of $50.45bn, CBN governor:
The Central Bank of Nigeria reports gross external reserves climbed to $50.45 billion, the strongest since 2013, signaling improved macro stability and stronger export and remittance inflows. - Channels
Lasaco Assurance appoints Ademoye Shobo as new Managing Director/CEO:
The National Insurance Commission has approved Mr. Shobo’s elevation as MD/CEO of Lasaco Assurance Plc effective 6 February 2026, with the board confident he’ll drive strategic growth and performance - PremiumTimes
Nigeria Sectoral Indices Performance
The market shows mild short-term weakness but strong underlying momentum. While the NGX 30 gained 0.14% and the NSE ASI dipped slightly by 0.06% on the day, Banking (-2.07%), Insurance (-3.79%), and Consumer Goods (-1.73%) recorded notable daily losses.Despite this, performance remains robust across longer periods: Oil & Gas leads with 33.82% MTD and 52.29% QTD/YTD, followed by Lotus (31.87% MTD; 45.45% QTD/YTD) and Premium Board (29.43% MTD; 41.07% QTD/YTD). Overall, strong double-digit QTD and YTD gains across most indices indicate sustained bullish momentum despite short-term pullbacks..
Fixed Income (FGN Bonds)
Global News & Market Update
Saudi Arabia boosts oil output and exports as contingency for possible US strike on Iran:
To safeguard global supply amid rising US-Iran tensions, Saudi Arabia is increasing oil production and exports as a precautionary measure in case conflict disrupts Middle Eastern flows - Reuters
U.S. offers record $26.5 billion energy loan to Southern Co for grid upgrades — Reuters
The U.S. Department of Energy has approved its largest-ever energy financing — a $26.54 billion long-term loan to Georgia Power and Alabama Power under Southern Co to boost grid reliability and infrastructure, aiming to cut costs and create jobs.- Reuters
OPEC+ set to consider a 137,000 bpd oil output increase for April at March meeting:
Ahead of peak summer demand and amid elevated geopolitical risks, the OPEC+ group is poised to debate resuming modest production hikes in April after a three-month pause. - Reuters
Zimbabwe halts exports of all raw minerals and lithium concentrates over malpractices:
The Zimbabwean government has imposed an immediate ban on all raw mineral and lithium concentrate exports to boost local value addition and tighten oversight, affecting even shipments already in transit. - Reuters
Indices, Commodities & Currencies
U.S. equities are broadly higher, with the NASDAQ 100 up 1.28% to 25,019 and the S&P 500 gaining 0.56% to 6,901, while the Dow Jones rises 0.22% to 49,209.
European markets are firm, as the DAX climbs 1.11% to 25,178 and the STOXX 50 advances 0.53% to 6,142, though the FTSE 100 slips 0.55%.
In energy, WTI falls 0.29% to $65.27 and Brent eases to $70.42, while natural gas jumps 2.61% to $2.82.
Precious metals strengthen, with gold up 0.73% to $5,230 and silver gaining 3.03% to $86.51, alongside solid advances in platinum.
Agricultural commodities are mixed, as soybeans decline 0.26%, while soybean meal rises 0.92% and corn edges up 0.03%.
In FX markets, the dollar index dips 0.05%, with the yen up 0.38%, while the euro and pound post marginal gains.
Fixed Income (USA Bonds)
Events
Conclusion
Investor sentiment remains cautiously positive as global equities edge higher and commodities show mixed trends. Strong Nigerian banking recapitalization and record external reserves highlight domestic financial stability, balancing global uncertainties in energy and metals markets.
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