RFA Breakfast Paper - June 8, 2026
Angola's Inflation Falls to Two-Year Low as Disinflation Trend Continues
Annual inflation in Angola slowed to 10.88% in May 2026 from 11.58% in April, marking its lowest level since May 2023 and extending the steady disinflation trend that has been in place since mid- 2024. The moderation in price pressures has been supported by the relative stability of the Angolan kwanza, which has helped contain imported inflation and improve overall price stability. Inflation eased across most major CPI categories, including food & non-alcoholic beverages (11.33% vs 11.96%), alcoholic beverages & tobacco (9.22% vs 9.63%), clothing & footwear (7.39% vs 8.47%), housing & utilities (14.32% vs 15.17%), transportation (15.73% vs 16.45%), and hotels & restaurants (6.07% vs 6.62%). On a monthly basis, consumer prices rose 0.53% in May, slightly slower than the 0.58% increase recorded in April, reinforcing the view that inflationary pressures continue to ease gradually. The latest data suggest that Angola's disinflation process remains firmly on track, supported by exchange-rate stability and broad-based moderation in price growth across the economy.
U.S. Equity Markets Stabilize as Technology Stocks Lead Recovery Effort
U.S. equities delivered a mixed performance on Monday as investors cautiously returned to risk assets following Friday’s sharp sell-off. The Nasdaq gained more than 0.8%, recovering part of its recent losses as semiconductor stocks led the rebound after the sector declined over 10% in the previous session. The S&P 500 also advanced modestly by approximately 0.3%, while the Dow Jones Industrial Average edged lower by 0.16%. Market sentiment improved after Iran announced a halt to its strikes against Israel, easing immediate concerns over a broader regional conflict. In commodity markets, WTI crude oil retreated from intraday highs near $95 per barrel to the low-$91 range, although prices remain significantly higher year-to-date. Despite the rebound in growth-oriented sectors, investors remained cautious as uncertainty surrounding the durability of the Middle East ceasefire continued to weigh on market sentiment. Rising Treasury yields also remained a key focus after a stronger-than-expected U.S. jobs report reinforced expectations that interest rates could stay elevated for longer. The move higher in bond yields tempered gains across broader equity markets, particularly in interest rate-sensitive sectors. While Monday’s recovery suggests investors remain willing to buy into weakness, market direction in the near term is likely to depend on developments in geopolitical tensions, oil prices, and upcoming economic data that could shape expectations for Federal Reserve policy.
NGX Rebounds as Buying Interest Returns to Large and Mid Cap Stocks
The Nigerian equity market began the week on a positive note as renewed buying interest lifted key market indicators. Investors returned to selected mid-cap and blue-chip stocks, helping the NGX All-Share Index gain 0.46% to close at 243,707.07 points, while market capitalization increased by ₦714.33 billion to ₦156.31 trillion. The market added 1,113.76 points during the session, reversing
some of the weakness seen in recent trading days and reflecting improved investor sentiment at the start of the week. Market activity also strengthened considerably, signalling increased participation across the exchange. Total trading volume rose 17.87% to 717.16 million shares, while the value of transactions surged 76.99% to ₦56.66 billion across 73,321 deals. The sharp increase in turnover suggests investors were more willing to deploy capital following last week's market pullback, with bargain hunting driving demand for fundamentally strong stocks. While the sustainability of the recovery remains dependent on broader market sentiment and corporate fundamentals, Monday's performance points to renewed confidence among investors seeking opportunities at attractive
valuation levels.
