By Boluwatife Oshadiya | May 22, 2026
Key Points
- Major global equity markets closed higher as hopes of a United States-Iran agreement improved investor sentiment
- Nigerian equities posted modest gains despite negative market breadth
- Oil price concerns and inflation pressures continued to influence investor positioning across global markets
Main Story
Global equity markets advanced on Thursday as renewed optimism surrounding possible diplomatic progress between the United States and Iran lifted investor confidence and reduced pressure on global oil prices.
On Wall Street, the Dow Jones Industrial Average gained 0.55%, while the S&P 500 rose 0.17%. The NASDAQ also edged 0.09% higher, extending gains for a second consecutive session as investors reacted positively to reports suggesting narrowing differences between Washington and Tehran.
Asian markets recorded stronger gains amid expectations that easing geopolitical tensions could support global economic stability and reduce energy market volatility. Japan’s Nikkei 225 surged 2.68%, Hong Kong’s Hang Seng Index rose 1.22%, and Australia’s ASX 200 added 0.36%.
European markets delivered mixed performances. The FTSE 100 advanced 0.11% despite weaker-than-expected Purchasing Managers’ Index data, while the Euro Stoxx 50 slipped 0.26%.
In South Africa, the Johannesburg Stock Exchange ended lower as investors assessed mixed trade data and lingering uncertainty surrounding global oil supplies. The All-Share Index declined 0.51% to 114,053 points, while the Top 40 Index fell 0.62%.
Resource stocks led losses on the JSE, declining 1.28% as precious metals prices weakened alongside a stronger United States dollar. Industrials also fell 0.93%, although financial stocks gained 0.49%.
Nigeria’s equities market closed marginally higher, supported by bargain hunting in select medium-cap stocks. The Nigerian Exchange All-Share Index rose 0.05% to 249,175.39 points, while market capitalisation increased by ₦72.44 billion to ₦159.73 trillion.
Stocks including UNILEVER, EUNISELL, UACN, TIP and INTBREW helped support investor sentiment despite broader market weakness.
Trading activity remained mixed, with total traded volume surging 76.39% to 1.06 billion shares valued at ₦30.97 billion across 62,448 deals. STERLINGNG led the volume chart, while ARADEL accounted for the largest share of traded value.
Market breadth remained negative with 19 gainers against 44 losers. ABCTRANS emerged as the session’s top gainer with a 10% appreciation, while BERGER led the laggards.
What’s Being Said
“Markets are reacting positively to signs of easing geopolitical tensions because lower oil price risks could help reduce inflationary pressures globally,” international market analysts said after Thursday’s close.
“Investors remain selective, especially in emerging markets where inflation and currency risks are still influencing capital flows,” equity traders monitoring African markets noted.
Analysts also said bargain hunting in undervalued medium-cap Nigerian stocks contributed to the local market’s modest recovery.
What’s Next
- Investors will continue monitoring developments in the United States-Iran negotiations for signs of a formal agreement
- Global markets are expected to react closely to upcoming inflation data and central bank policy signals
- Nigerian investors will watch corporate earnings releases and sector-specific performance for further market direction
The Bottom Line: Global equity investors are increasingly pricing in the possibility that geopolitical tensions may ease in the coming weeks. However, inflation concerns, oil market volatility and interest rate uncertainty continue to limit aggressive risk-taking across both developed and emerging markets.
