RFA Breakfast Paper - May 6, 2026
Ghana's Inflation Ticks Up to 3.4% on Higher Fuel Costs
Annual inflation in Ghana edged higher to 3.4% in April 2026 from 3.2% in March, driven mainly by rising non-food prices. Non-food inflation accelerated to 4.2% from 3.9%, largely reflecting the impact of higher fuel costs, while food and non-alcoholic beverage inflation eased slightly to 2.2% from 2.3%. On a monthly basis, consumer prices rose 1%, the strongest increase since February 2025, following a modest 0.1% rise in March, indicating growing short-term price pressures despite overall inflation remaining relatively low.
U.S. Equities Surge to Record Highs as Easing Iran Tensions Boost Risk Appetite
U.S. equities rallied strongly on Wednesday, with both the S&P 500 and Nasdaq closing at fresh record highs as improving geopolitical sentiment fueled a broad-based market advance. Investor optimism strengthened following reports that the United States and Iran could reach a peace agreement in the coming days, easing concerns over prolonged tensions in the Middle East. The Nasdaq outperformed major indexes, gaining 2.02% to close at 25,838.94, while the S&P 500 advanced 1.46% to settle at 7,365.12. The prospect of reduced geopolitical risk also triggered a sharp decline in oil prices, with WTI crude falling roughly 7% toward the $95 level. Lower energy prices helped ease near-term inflation concerns, leading Treasury yields lower and providing further support for equities. Overall, the session reflected renewed bullish sentiment across global markets, with investors increasingly positioning for continued earnings strength and a more stable macroeconomic environment.
Nigerian Equities Rebound as Bargain Hunting Revives Investor Sentiment
The Nigerian equity market rebounded in Wednesday’s trading session as renewed investor confidence drove buying interest across medium- and large-cap stocks. Positive sentiment in the market helped the NGX All-Share Index recover part of the losses recorded in the previous session, with investors taking advantage of attractive valuations in selected counters. As a result, the benchmark index advanced by 979.36 basis points, representing a 0.41% gain to close at 242,729.51 points. In the same direction, market capitalization appreciated by ₦628.53 billion to settle at ₦155.78 trillion, reflecting sustained optimism and improved risk appetite among market participants. Market activity remained relatively strong despite mixed trading metrics during the session. Total trade volume increased by 11.57%, indicating stronger participation and increased turnover in the equities market. However, the total value of trades declined by 21.00%, suggesting that investors focused more on relatively lower-priced transactions despite the broader market advance. By the close of trading, approximately 1.41 billion units valued at ₦59.43 billion exchanged hands across 85,804 deals. Overall, the session reflected cautious optimism as bargain hunting and selective positioning continued to shape trading direction in the domestic equities market.
