#Africa #Markets | 6 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asia stocks stumble on Wall Street losses
  • MSCI Asia-Pacific index down 0.9 pct
  • Nikkei drops 0.9 pct, copper slide hits non-ferrous metal sector
  • Wall Street extends losses on sagging technology shares

Oil markets

  • Oil dips on rising US fuel stocks
  • U.S. gasoline, distillate stocks increase – API
  • U.S. crude stocks decline slightly – API
  • OPEC/Russian-led supply cut lends market support

Precious metals

  • Spot gold down 1 pct at $1,263.02 an ounce (1849GMT), after dropping to a 2-month low of $1,260.71
  • U.S. gold futures for February delivery settled down 1 pct at $1,264.90 an ounce
  • Silver dipped 1.7 pct dips at $16.04 an ounce, earlier sliding to a 4½-month low of $16

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

  • Namibia interest rate decision (prev. 6.75%) [fcst: 6.75%]
  • South Africa SACCI business confidence (Nov-17) (prev. 92.9) 

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

  • Emerging market fund flows turn sharply negative in late November – IIF
  • South Sudan owes Sudan $1.3 billion from 2012 oil deal
  • Nigeria’s Senate to probe police brutality allegations
  • Rescued from Libya, jobless Senegal migrants likely to return
  • World Bank approves $1.15 bln development policy loan for Egypt
  • Cocoa sinks to multi-month lows on improved crop weather
  • Copper falls to two-month low
  • Nigeria MPs begin investigation into suspension of SEC chief
  • U.S. law firm probes South Africa’s Naspers after payments row
  • IMF begins talks with Congo Republic over bailout package
  • Seeking whistleblowers and battling black magic, Nigeria ramps up anti-trafficking crusade
  • Nigeria’s parliament passes 2018-2020 budget framework, raise oil price estimate
  • South Africa’s Q3 GDP expands by 2 pct quarter/quarter as agriculture soars
  • South Africa’s Ramaphosa leads ANC nominations but not assured of victory
  • Nigeria motorists queuing for fuel told there are no shortages
  • Yields lower in weekly South Africa government bond auction
  • South Africa’s gross spending up 2.1 percent in Q3
  • Dangote Cement signs pact with Jumia Nigeria
  • Kenya shilling under pressure from importers ahead of holidays
  • Kenya private sector expands in Nov, may flag recovery – PMI
  • Kenya central bank to hold its next rate-setting meeting on Jan 22
  • Sierra Leone “Peace Diamond” sells for $6.5 mln at auction

Full story of above headlines are available on Reuters

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