#Africa #Markets | 15 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Asia shares ex-Japan finally crack 2007 top to new peak
  • Investors optimistic on earnings growth, global economy
  • Dollar slips to multi-year lows as euro, pound gains
  • US holiday thins trade, China GDP looms later in week

Oil Markets

  • Oil dips away from 2014 highs on rising US rig count
  • But analysts say market supported
  • Brent crude futures at $69.72 per barrel (0008GMT)
  • US WTI crude futures at $64.27

Precious metals

  • Gold hits 4-mth peak as dollar index slumps to lowest in 3 yrs
  • Spot gold up 0.1 pct at $1,339.46 an ounce (0117GMT)
  • US gold futures up 0.4 pct at $1,339.70

Grains (12 Jan)

  • Wheat drops most since August after USDA acreage surprise
  • CBOT March wheat futures finished $4.20-1/2 per bushel, 12-3/4 cents lower
  • March corn settled at $3.46-1/4, down 2-1/2 cents
  • March soybeans settled at $9.60-1/2 per bushel, 0.9 pct loss for the week

Soft commodities (12 Jan)

  • Sugar extends losses to 3-1/2-week low, London cocoa drops
  • March white sugar settled down $1.90 or 0.5 pct at $375 per tonne
  • March London cocoa settled down £16 or 1.2 pct at £1,380 per tonne
  • March New York cocoa settled down $14 or 0.7 pct at $1,914 per tonne
  • March robusta coffee settled up $1, or 0.06 pct at $1,728 per tonne
  • March arabic coffee settled down 0.55 cent or 0.5 pct at $1.2225 per lb

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

  • Nigeria Dec-17 inflation (16 Jan) [fcst. 15.6% yy, prev. 15.9%]
  • South Africa Nov-17 mining production (16 Jan) [fcst. 4.7% yy, prev. 5.2%]
  • South Africa Nov-17 retail sales (17 Jan) [fcst. 1.2% yy, prev. 3.2%]
  • South Africa SARB MPC decision (18 Jan) [fcst. 6.5%, prev. 6.75%]

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

  • Violent protests resume in Tunisia after two days of calm
  • Morocco looks for smooth transition to more flexible exchange rate system
  • Average yields fall on Egypt’s 3- and 9-month T-bills
  • Four soldiers killed in attack in central Congo
  • Zambia relaxes restrictions as cholera outbreak slows
  • South Africa’s ANC leader: Zuma to be dealt with over time
  • South Africa protests to US embassy over Trump “shithole” remark
  • Liberia ruling party expels President Johnson Sirleaf
  • Egypt approves cabinet reshuffle ahead of elections
  • Egypt’s budget deficit in first half FY 2017-18 down to 4.4 pct
  • Egypt parliament approves cabinet reshuffle – sources
  • Congo launches offensive against Ugandan rebels in its east
  • Tunisia will increase aid for poor in response to protests
  • Nigerian Shi’ite leader, rumoured dead, makes first public appearance in 2 years
  • South Africa to target investment, graft under new ANC leader
  • South African protesters ransack H&M stores over racist ad
  • Volkswagen plans to double output from Kenya plant – Kenyan presidency
  • Ghana’s 91-day bill yield rises to 13.36 pct
  • No school, period! Menstruating Ghanaian girls banned from river crossing
  • Zimbabwe faces bloodshed if “illegal regime” stays, Mugabe ally says
  • Russia’s Alrosa secures 8.2 pct stake in Angola’s Catoca
  • Nigerian stocks climb to 9-year high
  • Egypt’s inflation drop shows spending levels still low, say economists
  • Cameroon farmers abandon cocoa plantations amid crackdown
  • South Africa’s audit regulator says part of KPMG probe nearing completion
  • Kenya cuts local communities’ share of oil revenue
  • Nigerian bourse suspends trading on Seven-Up shares
  • South African regulator reviewing volatile share trading
  • Mauritius 91-day treasury bill yield rises to 2.39 pct
  • Botswana’s Okavango posts record diamond sales at $567 million
  • Ugandan shilling firms on inflows from charities
  • South Africa’s 3 –month T-bill average yield falls to 7.4 pct
  • South Africa’s ABSA PMI falls for first time in four months
  • Russia’s VTB banks discusses debt raising for Angola
  • Kenyan shilling strengthens, helped by remittances, horticulture exports

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

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