#Africa #Markets | 14 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asia stocks edge higher after Fed meeting
  • US dollar, yields sag
  • MSCI Asia-Pacific index up 0.45 pct
  • Fed hike rates but sounds caution over low inflation
  • China hikes interest rates, overall impact limited

Oil markets

  • Oil rises on lower US crude stocks
  • But growing output caps gains
  • US crude stocks down for 4th straight week
  • US production rises close to 10 mln bpd

Precious metals

  • Gold edges up as dollar holds steady
  • Spot gold was up 0.15 pct at $1,257.11 an ounce (0123GMT), after rising nearly 1 pct in the previous session
  • US gold futures were up nearly 1 pct at $1,260.60

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

  • 0800GMT   South Africa Current Account (Q3-17) (prev. -2.4% of GDP) [fcst: -2.5%]
  • 0930GMT   South Africa PPI (Nov-17) (est. 5.0% yy, prev. 5.0%) [fcst: 5.2%]

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

  • Steinhoff to restate 2016 financial results
  • US sanctions 2 Africans over ivory, weapons trade
  • Arabic coffee claws up from 7-session drop, NY cocoa rebounds
  • LafargeHolcim ends talks with South Africa’s PPC
  • Congo fighters jailed for life for child rape ceremonies – rights groups
  • 400,000 children risk starvation in volatile Congo as aid dries up
  • Zimbabwe orders illegal settlers to vacate farms
  • Investors concerned about Nigeria controls, but have not given up – IMF
  • Supporters of Egypt presidential hopeful arrested, say security sources, family
  • Nigeria NGOs slam civil society bill as grave threats to freedoms
  • Nigeria’s one-year T-bil yield rises more after Tuesday’s dive
  • Algeria’s ruling caste set on orderly succession, when the time comes
  • Burundi expects econ growth, spending to pick up in 2018
  • Zimbabweans wait to see whether Mnangagwa’s VPs will add new blood
  • Eni completes sale of 25 pct stake in Mozambique gas project to Exxon
  • In another blow to Zuma, South African top court orders influence-peddling inquiry
  • South African state fund wants a part in Steinhoff’s accounting scandal probe
  • Algeria’s Sonatrach plans closer ties with Total on energy projects
  • Tanzania’s Magufuli orders tighter FX controls, bank crackdown as growth slows
  • Zimbabwe seizes 200kg of ivory destined for Malaysia
  • Mauritius cenbank forecasts 2017 c/a deficit of 5.1 pct of GDP
  • Nigeria’s 1-year T-bill yield rises as foreign funds exit
  • Mozambique president replaces energy and foreign ministers
  • South African court upholds watchdog recommendation to set up inquiry on influence-peddling
  • South Africa’s retail sales rise 3.2 pct year/year in October
  • South Sudan needs $1.7 bln humanitarian aid in 2018
  • Botswana exchange lists IFC local currency bond
  • IMF urges Tanzania to reform and spend to stem economic slowdown
  • South Africa court orders Zuma to pay costs for challenging watchdog
  • South Africa’s CPI slows to 4.6 pct year/year in November
  • EU pushes to curb Africa migration more, still split on hosting refugees

Full story of above headlines are available on Reuters

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