#Africa #Markets | 30 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Tech shares tumble, some cite silicon cycle worries
  • Dollar gains on U.S. GDP, eyes on tax debate

Oil markets

  • Oil prices volatile ahead of OPEC meeting later in day
  • Market expects extension of production cuts to cover all of 2018 [Seems like 9 months might win the day] #Oil #OOTT #OPEC
  • Soaring U.S. output undermines OPEC’s efforts to tighten market

Precious metals

  • Spot gold was little changed at $1,283.85 an ounce at 0050GMT
  • U.S. gold futures were up 0.1 percent at $1,283.10

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

  • Kenya, Uganda & Zambia inflation data due
  • Day 2 of AU-EU summit in Abidjan

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

  • EU’s Tusk: Africa, EU must cooperate to end “horrifying” migrant abuses
  • Cocoa rallies on arbitrage buying, arabica taps 7-week top
  • Nigeria flies migrants home from Libya after slavery scare
  • Nigeria suspends SEC chief during misconduct investigation
  • Nigeria sells 117 bln naira in Treasury bill at auction
  • Insecticide resistance spreads in Africa, threatens malaria progress
  • Nigeria’s Lafarge Africa aims to cut debt with first equity sale in decade
  • Zambia’s state-controlled investment firm wants bigger stake in copper mines
  • Exxon nears deal to explore for oil and gas offshore Mauritania
  • Kenya set to build coast-to-centre highway to boost Africa trade
  • Macron makes renewable energy push in power-starved Africa
  • Egypt’s Sisi calls on military chief to secure Sinai in three months
  • Kenya plans $1 bln dual listing of National Oil Corp by early 2019
  • Zimbabwe pastor found not guilty of subversion
  • Egypt to keep customs exchange rate at 16 pounds in December
  • AfDB approves $160 mln loan for second Nairobi runway
  • Egypt’s M2 money supply up 40.48 pct year-on-year in Oct
  • London cocoa prices fall to 2-month low as sterling strengthens
  • UK financial support for Zimbabwe linked to democratic progress – Johnson
  • Mauritius holds repo rate at 3.50 pct, restates 2017 GDP forecast
  • Kenya cuts electricity tariffs for manufacturers to create jobs
  • South Africa’s treasury appoints acting head of budget
  • Angola’s net reserves rise to $15.358 billion in October
  • Moody’s downgrades long-term corporate family rating of Eskom to Ba3 from Ba2
  • Militia attacks kill 43 in South Sudan’s Jonglei state
  • Kenya shilling strengthens as foreigners flock into stocks
  • South Africa national airline debt at 13.8 bln rand, losses to widen
  • Three firms bid to set up fourth mobile phone company in Zambia
  • South Africa’s credit demand growth slows to 5.43 percent [Oct PSCE: act. 5.4% yy, fcst. 6.3%, prev. 5.5% rev; Oct M3: act. 5.0% yy, fcst: 5.9%, prev. 7.1% rev.]

Full story of above headlines are available on Reuters

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