RFA Breakfast Paper - May 8, 2026
Angola's Inflation Falls to Lowest Since June 2023
Annual inflation in Angola slowed further to 11.58% in April 2026 from 12.42% in March, marking the lowest reading since June 2023 and extending the disinflation trend that began in mid-2024. The relative stability of the kwanza has continued to help contain price pressures. Inflation eased across several major CPI categories, including food & non-alcoholic beverages (11.96% vs 12.72%), alcoholic beverages & tobacco (9.63% vs 11.03%), clothing & footwear (8.47% vs 10.14%), housing & utilities (15.17% vs 15.49%), and transportation (16.45% vs 16.59%). Prices also moderated notably in hotels & restaurants (6.62% vs 8.14%). On a monthly basis, consumer prices rose 0.58% in April, slightly above the 0.55% increase in March, suggesting short-term price pressures remain relatively contained.
U.S. Stocks Climb to Fresh Records as Strong Earnings and Easing Iran Tensions Lift Sentiment
U.S. stocks closed at fresh record highs as investors extended the market rally for a sixth consecutive week, supported by resilient economic data and improving geopolitical sentiment. The S&P 500 advanced as stronger-than-expected employment figures reinforced confidence in the strength of the U.S. economy, easing concerns about slowing growth. Investor sentiment also improved on renewed optimism surrounding a possible Iran peace agreement after reports emerged of a proposed 14-point framework aimed at de-escalating tensions in the Middle East.
Although oil prices traded mostly flat as markets awaited Iran’s formal response, comments from the U.S. administration suggesting that recent military strikes would not disrupt the ceasefire helped calm fears over global energy supply disruptions through the Strait of Hormuz. Technology stocks once again led the market higher, with semiconductor companies driving gains, while healthcare shares underperformed. Meanwhile, Treasury yields and the U.S. dollar moved lower, with the benchmark 10-year Treasury yield settling around 4.36%, as investors increasingly positioned for a more stable macroeconomic and geopolitical environment.
Nigerian Equities Erase Weekly Losses as Aggressive Buying Sparks Broad Market Rally
The Nigerian equity market closed the week on a bullish note as strong buying interest in mid-cap and blue-chip stocks pushed the market sharply higher and erased losses recorded earlier in the week. Investor appetite strengthened across major sectors, particularly in Industrial and Banking counters, which drove the market’s impressive rebound. The NGX All-Share Index gained 4,936.04 points, representing a 2.06% increase to close at 244,670.65 points, while market capitalization advanced by ₦3.17 trillion to settle at ₦157.03 trillion. On a week-on-week basis, the market sustained its positive momentum as the NGX-ASI appreciated by 0.99%, increasing investors’ wealth by approximately ₦1.03 trillion. However, despite the strong upward movement in prices, overall market activity slowed during the trading session, reflecting a more cautious trading
pattern among investors. Total volume traded declined by 41.72%, while total value traded dropped by 23.74%, indicating that the rally was largely supported by selective accumulation in fundamentally attractive stocks rather than heavy market-wide participation. Investors exchanged approximately 1.07 billion shares valued at ₦55.04 billion across 69,996 deals. The market’s ability to recover strongly despite weaker trading activity suggests that investor sentiment remains optimistic, particularly toward quality stocks within key sectors.
