[#HappyNewYear2018] #Africa #Markets | 1 Jan [+ End-2017 highlights]

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji 

[Markets closed for New Year holiday] 

Global Markets [end-2017 highlights]

  • Stock performance in 2017 points to wealth for many nations
  • World stock index adds $8 trillion in value in 2017
  • US stocks, dollar, gold and bonds signal caution for 2018
  • Dollar declines at fastest rate since 2003
  • US 10-year yield ticks down in 2017 despite 3 rate hikes

Oil Markets [end-2017 highlights]

  • US WTI crude ends 2017 above $60 on strong global oil demand
  • Highest WTI close since June 2015, 12 pct gain for 2017
  • Brent up 17 pct for 2017

Precious metals [end-2017 highlights]

  • Gold soars toward largest annual gain since 2010 on dollar boost
  • Spot gold up 13 pct in 2017
  • Palladium best precious performer in 2017, up 57 pct

Grains [end-2017 highlights]

  • Soybeans end 2017 down 4 pct as global stockpiles increase
  • Wheat up nearly 5 pct in 2017, halting 4-year skid
  • Corn ends 2017 nearly unchanged; ample supplies persist

Soft commodities [end-2017 highlights]

  • Raw sugar extends rally, still ends 2017 at a loss of more than 22 pct; largest since 2011
  • Cocoa and coffee futures end 2017 lower
  • March London cocoa prices finished 2017 20 pct lower
  • March arabica coffee ended 2017 down 8 pct

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

  • New Year messages by heads of state in focus [Some could have simply said “Happy New Year”]

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

  • Sudan parliament passes 2018 budget with 2.4 pct deficit
  • Congo security forces shoot dead two men during anti-govt demos – HRW
  • Egypt to keep customs exchange rate at 16 pounds in January
  • Namibia’s foreign reserves hit 5-month low in November
  • Congo orders internet and SMS cut ahead of anti-govt demos
  • Mali’s Keita names ex-defence and foreign minister as PM
  • President-elect Weah says Liberia “open for business”, vows to fight corruption
  • Sudan announces state of emergency in Kassala, North Kurdufan – SUNA
  • Egypt sentences ex-President Mursi, 19 others to 3 years in jail for insulting judiciary
  • Zambia president orders military to help fight cholera spread
  • Congo Republic releases US citizen detained for nearly 2 years
  • Liberia’s Weah under pressure to deliver after election win
  • White House: Liberia transfer of power a “major milestone”
  • Kenya’s GDP growth at 4.4 pct in Q3 2017
  • Nigeria’s FX reserves up 10 pct in Nov
  • South Sudan military raids home of exiled former army chief
  • South Africa’s rand, stocks end 2017 on high note
  • Liberia VP Boakai concedes presidential race to soccer star Weah
  • Kenya’s inflation falls to 4.5 pct in December
  • Guinea gives go ahead to $2.8 bln Chinese bauxite, aluminium investments
  • Tanzania threatens to de-register churches who rap president from pulpit
  • African Export Import Bank says raised additional $121.2 mln through private placement
  • Tunisia trade deficit widens year-on-year by 23.5 pct in Nov
  • IMF sees Gabon GDP growth at 0.8 pct in 2017, rising to 2.7 pct in 2018
  • Algeria’s shale gas plans will take time, require tough reforms
  • South Africa’s top court rules parliament failed to hold Zuma to account over scandal
  • Uganda’s inflation down to 3.3 pct y/y in December
  • South Africa’s credit demand growth quickens to 6.45 pct in Nov

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

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