#Africa #Markets | 29 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asia stocks mixed, Nikkei up as yen eases
  • North Korea tests suspected ICBM, initial reaction muted
  • Bitcoin tops $10k barrier on more exchanges
  • Republican senators progress with U.S. tax cut plans
  • S. banking stocks boosted by presumptive Fed chair

Oil markets

  • Extended OPEC-led production cuts are priced in – traders
  • But doubts over Russia’s willingness to extend cuts emerge
  • API reports surprise climb in U.S. crude inventories
  • But healthy world economy should support oil demand

Precious metals

  • Spot gold was little changed at $1,294.12 an ounce (0113GMT)
  • S. gold futures were down 0.1 percent at $1,293.60
  • Palladium dipped 0.2 percent at $1,024.99 an ounce, after hitting its highest since February 2001 at $1,028.70 in the previous session

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • 2-day AU-EU summit starts today in Abidjan [Europe’s African immigrant problem may overshadow more important developmental issues] #AUEUSummit2017
  • Nigeria 117 bln naira treasury bill auction by central bank today [N26B (3M), N11B (6M), N80B (1Y)] #Nigeria #Debt
  • South Africa M3 money supply (Oct-17) [act. 5.0% yy, fcst. 5.9% yy, prev. 7.1% rev] #SouthAfrica #M3
  • South Africa PSCE (Oct-17) [act. 5.4% yy, fcst. 6.3% yy, prev. 5.5% rev] #SouthAfrica #PSCE

Key African events or data releases yesterday
[Posted & commented on headlines below at my Twitter handle @DrRafiqRaji]

  • Kenya president sworn in, rival Odinga promises own inauguration
  • Difficult migration debate looms as African and EU leaders meet
  • Nigeria central bank injects $210M into currency market
  • Moodys’ places on review for downgrade 15 South African sub-sovereigns
  • Rand investors increase bets South Africa’s Ramaphosa will replace Zuma
  • Zimbabwe’s Mnangagwa opens amnesty window for return of stolen funds
  • Macron’s promise of new France-Africa ties raises heckles
  • Algeria expects Ourhoud oilfield to produce 1.3 billion barrels until 2040
  • Zimbabwe’s Mugabe is gone, but political kow-towing still abounds
  • CFA franc is a matter for Africans, France open to changes, Macron says
  • In long-awaited move, Egypt central bank scraps FX restrictions for importers
  • Egypt security forces kill 11 suspected militants in raid
  • At least 17 killed in gold mine dispute on Mali-Guinea border
  • Amnesty wants probe into Shell’s alleged role in 1990s Nigeria violence
  • Macron touts European initiative to evacuate Africans trapped in Libya
  • Zambia says ‘must have’ $1.3 bln IMF loan in place in 2018
  • Kenya president lifts travel restrictions, saying all Africans can get visa on arrival
  • Grenade thrown at French troops in Burkina Faso before Macron’s arrival
  • South Africa’s Eskom links Medupi new coal-fired unit to national grid
  • South Africa’s Q4 business confidence slips slightly
  • Yields lower in weekly South African government bond auction
  • Burundi opposition platform boycotts new round of peace talks in Tanzania 

Full story of above headlines are available on Reuters

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