#Africa #Markets | 21 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asia stocks subdued as US tax cuts slug bonds
  • US Republicans pass $1.5 trln of debt-funded tax cuts
  • Treasury sell-off takes 10-year yields to highest since March

Oil markets

  • Oil prices stable on lower US crude stocks, but rising output weighs
  • US commercial crude stocks fall to lowest level since 2015
  • Saudi Arabia says it will take more time to re-balance markets

Precious metals

  • Gold hovers near 2-wk high amid steady dollar, weaker stocks
  • Spot gold was up 0.1 pct at $1,266.56 an ounce (0104GMT), after hitting its best since Dec. 6 at $1,267.81 in the previous session
  • US gold futures were steady at $1,270 an ounce

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

  • Zimbabwe’s Mnangagwa meets business leaders in South Africa today

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

  • Rates on Uganda treasury bills fall at auction
  • Surge in US shale hedging to boost drilling in 2018
  • South Africa’s new ANC leader Ramaphosa aims to fight corruption
  • South Africa’s ANC calls for nationalising central bank, land expropriation
  • Uganda parliament passes law allowing Museveni to seek re-election
  • Congo and Uganda to launch joint operation against rebel ADF
  • Cameroon troops entered Nigeria without seeking authorisation, sources in Nigeria say
  • Court decision on South Africa’s Steinhoff probe delayed, now expected by Jan. 22
  • BP and Kosmos partner on five Ivory Coast offshore oil blocks
  • Shell, Eni to stand trial in Nigeria bribery case
  • Zimbabwe’s Mnangagwa promises zero tolerance in corruption fight
  • Chad, Glencore talks to renegotiate $1 bln loan fail again
  • Eni grabs new exploration permits in offshore Morocco
  • Workers at South Africa’s Shoprite to hold one-day strike on Friday
  • Somalia lawmakers seek to impeach president amid political crisis
  • Swiss government ends freeze on Egypt assets
  • Malawi’s central bank cut key lending rate to 16 pct
  • Ghana Q3 GDP growth rises to 9.3 pct – stats office
  • Algeria’s Sonatrach signs $500 mln deal with BP, Statoil
  • Angola sovereign fund reports $40.5 mln profit in Q3
  • Ghana November producer inflation falls to 7.1 pct
  • Scuffles break out in Uganda parliament during debate to extend Museveni rule
  • Ethiopia signs $4 billion deal to build 1,000MW geothermal power plants
  • Investors fear South Africa market euphoria is overdone

N.B. Full stories of above headlines are available on Reuters

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