#Africa #Markets | 5 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Stocks rise to records as U.S. tax bill moves ahead
  • Dow industrials, S&P 500 hit all-time highs
  • Dollar strengthens against currency basket

Oil markets

  • Oil eases 1 pct on profit-taking as U.S. output eyed
  • Oil prices still near highest since mid-2015 on OPEC deal
  • OPEC output falls by 300,000 bpd in November – Reuters survey

Precious metals

  • Gold slips on higher dollar after U.S tax proposal advances
  • Spot gold was down 0.5 percent at $1,274.16 an ounce (1850GMT, 4 Dec)
  • U.S. gold futures for February delivery settled down 0.4 percent at $1,270.11, its lowest level since Nov. 6

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

  • South Africa Q3 GDP (prev. 2.5% qq saa) [fcst: 0.6%]
  • South Africa Standard Bank PMI (Nov-17) (prev. 49.6)
  • Nigeria Stanbic IBTC PMI (Nov-17) (prev. 52.1)

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

  • South Africa’s Ramaphosa gets most nominations ahead of ANC leadership vote
  • Saudis pledge $100 mln to African anti-jihadist force – Mali
  • Cocoa at multi-month lows as currency, weakening charts weigh
  • Namibia foreign reserves rise in October
  • South Africa rand gains on hopes Ramaphosa will win ANC race
  • Kenya frees Odinga adviser arrested on suspicion of inciting violence
  • Nigeria’s Access Bank targets West African trade services as foreign lenders exit
  • Congo used exiled rebels to suppress anti-Kabila protests
  • With Algeria’s future uncertain, Macron unlikely to dwell on past during visit
  • SMB plans Guinea alumina refinery by 2022
  • South Africa to hike petrol, diesel prices in December
  • Poor regulation, dodgy pills spur plan for African drugs agency
  • Nigeria central bank weakens naira to 307/US$ for first time
  • Egypt central bank pays back $2 bln to African Export-Import Bank
  • Moody’s says Nigeria’s credit profile constrained by vulnerability to shocks, weak institutions and elevated deficits
  • Zimbabwe swears in first post-Mugabe cabinet
  • Angola’s central bank raises benchmark lending rate to 18 percent
  • Zambia to start refinancing eurobonds in 2019 to ease debt
  • Offshore investors net sellers of South Africa stocks, bonds 

Full story of above headlines are available on Reuters

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