#Africa #Markets | 15 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asian shares edge up, on track for weekly gain
  • Wall Street slumps on concerns about US tax reform bill
  • Nikkei skids, as yen strengthens
  • US crude futures extend overnight gains

Oil markets

  • Oil stable on tighter market
  • Rising US output looms for 2018
  • OPEC-led supply cuts, Forties pipeline outage support crude
  • Rising US output, driven by shale, weighs on market

Precious metals

  • Gold steady amid subdued dollar, poised for weekly gain
  • Spot gold was nearly unchanged at $1,253.20 an ounce (0054GMT), after dipping 0.2 pct in the previous session
  • US gold futures edged down 0.1 pct at $1,255.70

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

  • Zimbabwe’s Mnangagwa to address ruling ZANU-PF party extraordinary congress today (15 Dec), to be endorsed as presidential candidate for 2018 elections
  • South Africa’s ANC elective conference starts tomorrow (16 Dec)

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

  • Morocco should step up structural reforms – IMF
  • Giant rats increase their attack on tuberculosis in Tanzania
  • South Africa’s PPC resigned to remaining single
  • World Bank invests $4.5 bln to arm cities against climate change
  • Coffee extends rebound from multi-month lows
  • South Africa’s Sibanye-Stillwater to be No.2 platinum miner with Lonmin buy
  • South Africa’s Steinhoff says Christo Wiese steps down as chairman
  • Kenya president’s election campaign used firm hired by Trump – privacy group
  • Lonmin labour union considers taking action to fight Sibanye takeover
  • Ivory Coast awards Tullow two new onshore oil blocks
  • Yields on Kenya’s 15-yr, 10-yr Treasury bonds up at latest sale – cenbank
  • Yields on Kenya’s 182-day and 364-day T-bills rise, 91-day T-bills at auction
  • Nigeria to release $1 bln from excess oil account to fight Boko Haram
  • Sudan’s oil supply threatened due to dollar shortage
  • Fitch places First Bank of Nigeria’s subordinated notes on rating watch positive on exposure draft
  • Tunisia ready for “decisive action” on economy, IMF says
  • Retention of jobs critical following Sibanye-Lonmin deal – mines minister
  • South Africa’s PPC not looking to sell assets or merge anymore – chairman
  • ECB willing to learn lessons from South Africa’s Steinhoff buys, says Draghi
  • Nigeria to issue $29 mln debut green bond next week
  • Zimbabwe’s Mnangagwa calls for end to Western sanctions
  • Standard Bank appoints Lungiza Fuzile as CEO of South Africa unit
  • Broke South Sudan hike fees, blocks aid despite appeal for cash
  • Sudan inflation drops to 24.76 pct in November
  • Cameroon’s Anglophones flee to Nigeria as crackdown grows
  • Saudi-backed military alliance to help G5 Sahel fight
  • Zambia sees 2017 copper output rising to 850,000 tonnes
  • Zimbabwe’s former finance minister faces new corruption charges
  • Angola Lourenco’s offers ultimatum for repatriation of funds
  • Kenya police assaulted and raped women during election – rights group
  • Nigeria repays $1.1 bln worth of T-bills; overnight rates fall
  • South Africa’s November producer inflation steady at 5.1 pct yr/yr
  • South Africa’s current account deficit narrows to 2.3 pct of GDP, FDI and trade surplus climb
  • Zimbabwe’s ex-leader Mugabe visits Singapore hospital – sources
  • Nambia economic recession deepens in third quarter, contracts 1.9 pct
  • Namibia inflation unchanged at 5.2 pct yr/yr in November
  • Egypt minister set to sign deal to resume Russia flights
  • South Africa’s Zuma appeals court ruling on state prosecutors’s appointment
  • Egypt’s agriculture ministry updates policy to end ergot confusion 

Full stories of above headlines are available on Reuters

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