#Africa #Markets | 1 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • MSCI Asia ex-Japan on track for weekly losses
  • Dollar undermined by lower U.S. Treasury yields

Oil markets

  • Oil prices gain after OPEC extension of output cut
  • Extension to be reviewed in June for signs of oil market overheating
  • OPEC shows “strong commitment” to balanced market – Goldman Sachs
  • Prices to hold near current levels until June – Idemitsu

Precious metals

  • Gold inches up as dollar weakens after U.S. Senate tax bill stalls
  • Spot gold was up 0.1 percent at $1,275.61 an ounce at 0119GMT
  • U.S. gold futures gained 0.1 percent at $1,274.30

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

  • South Africa ABSA manufacturing PMI for Nov-17 (prev. 47.8)
  • Nigeria manufacturing PMI for Nov-17 (prev. 55.0)

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

  • Zambia inflation in November at 6.3% yy (prev. 6.4%) [fcst: 5.4%]
  • Kenya inflation in November at 4.7% yy (prev. 5.7%) [fcst: 5.1%]
  • Uganda inflation in November at 4.0% yy (prev. 4.8%) [fcst: 4.5%]
  • South Africa producer inflation in October at 5.0% yy (prev. 5.2%) [fcst: 4.8%]
  • Zimbabwe’s Mnangagwa names cabinet [Major General Moyo is foreign minister]
  • South Africa’s National Union of Mineworkers says strike has come to end at Kangra coal mine
  • Libya PM Sarraj hopes for easing of arms embargo
  • Ghana raises 5.3 bln cedis ($1.16 bln) in multipe bonds to refinance debt
  • Niger approves use of armed American drones – U.S. official
  • Madagascar budget predicts economic rebound in 2018
  • EU, UN, African leaders draw up emergency plan for migrants in Libya
  • IMF to send mission to Zimbabwe in coming days
  • Rwanda’s Bank of Kigali aims to raise up to $100 mln via share issue in 2018
  • Yields on Kenya’s 182-day and 364-day T-bills rise, 91-day stable at auction
  • France invites U.S. to Dec. 13 summit on boosting fight against W.African militants
  • IMF to engage with Kenya on existing $1.5 bln credit facility
  • Nigeria’s Seven-Up gets $60 mln takeover offer after losses
  • Kenya Airways says flights continue to run on schedule with minimum disruption after strike
  • Kenya Airways fires 140 engineers and technicians over strike
  • South Africa records surprise trade surplus as weak rand aids exports
  • Kenya plans to issue $2 bln eurobond in Q1 2018
  • Cocoa falls as buying wanes, arabica coffee slips off highs
  • South Africa records nearly 35 billion rand budget deficit in October
  • Deadline looms for S.Africa’s Zuma over revived graft charges
  • Nigeria’s dollar reserves at $34.53 bln as of Nov. 24
  • Dollar inflows from charities supporting Uganda shilling
  • Eskom says rolling cuts unlikely despite coal supply fall
  • Fitch: Nigeria targets consolidation but revenues may fall short
  • Kenya shilling strengthens, helped by foreign investors buying stocks
  • Uganda inflation falls in Nov, food prices help
  • Tanzania suffers national power outage after technical fault
  • GSK starts Africa study of injectable drug to prevent HIV

Full story of above headlines are available on Reuters

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