#Africa #Markets | 18 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Asia stocks reach record highs after Wall St surge, dollar edges back
  • MSCI Asia-Pacific index hits record high, 26-yr peak for Nikkei
  • Spreadbetters expect European stocks to open mostly higher
  • Dollar index edges back from 3-yr lows as euro rally sputters

Oil Markets

  • Oil edges up on falling US crude inventories, but suppy remains ample
  • US crude stocks down by 5.1 mln at 411.5 mln – API
  • But gasoline, distillate stocks rise
  • Brent crude futures at $69.48 a barrel (0103GMT), up 0.1 pct
  • US WTI crude futures at $64.15, up 0.3 pct

Precious metals

  • Gold hits 1-week low as dollar picks up
  • Spot gold down 0.1 pct to $1,326.51 an ounce (0112GMT)
  • US gold futures down 1 pct to $1,324.70 an ounce

Grains

  • Corn prices edge down, but stay near 2-week high
  • Most active CBOT corn futures down 0.1 pct at $3.52-1/2 a bushel (0148GMT)
  • Most active soybean futures little changed at $9.68-1/4 a bushel
  • Most active wheat futures up 0.2 pct at $4.22-1/2 a bushel

Soft commodities (17 Jan)

  • New York cocoa jumps to 6-week high on firm sterling
  • March New York cocoa settled up $53 or 2.7 pct at $1,985 per tonne
  • March London cocoa settled up £26 or 1.9 pct at £1,417 per tonne
  • March arabica coffee settled up 2.2 pct at $1.231 per lb
  • March robusta coffee settled up $42 or 2.4 pct at $1,769 per tonne
  • March raw sugar settled down 1.3 pct at 13.42 cents per lb
  • March white sugar settled down 0.7 pct at $360.90 per tonne

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

  • South African central bank rate decision today [fcst. 6.5%, prev. 6.75%]
  • South Africa’s Ramaphosa talks tough on state graft, talks up economy
  • Zimbabwe to hold elections in four to five months – Mnangagwa

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

  • Kidnappers abduct 2 Americans, 2 Canadians in Nigeria; 2 police killed
  • Mali annual gold production up 5 pct to 49.6 T
  • President says Ghana’s economy back on track
  • Nigeria aims to raise 110 bln naira at bond auction
  • Congo armed groups uniting against President Kabila – UN
  • Suspected Boko Haram suicide bombers kill 12, injure 48 in attack on Nigeria city of Maiduguri
  • Ethiopia frees opposition leader jailed in 2015
  • Italy approves military mission in Niger, more troops to N.Africa
  • Risk of hunger and crime as UN cuts food for refugees in east Africa
  • Ivory Coast awards Tullow two new oil and gas blocks
  • Nigerian militants threaten oil rig attacks within days
  • Airport in Libya’s capital shut for third day after clashes
  • Drugmaker GSK cuts back in Africa to hone emerging markets model
  • Mauritius raises alert for cyclone Berguitta, closing port, airport
  • Dutch government tells highest Eritrean diplomat to leave
  • Libyan dinar climbs steeply against dollar on parallel market
  • EU suspends Kenya water conservation funding after tribesman killed
  • South Africa’s rand weaker, stocks boosted by retail data
  • Police search offices of Belgian company supplying passports to Africa
  • South African forward markets bet on central bank rate cut
  • Angola to issue $2 bln eurobond in 2018 and renegotiate bilateral debt
  • Half of drought-hit Somalia needs aid in 2018 – UN
  • South African regulator pursues criminal complaints against SAP, KPMG, McKinsey
  • Uganda’s Museveni accuses UN of “preserving terrorism” in eastern Congo
  • South Africa’s retail sales enjoy biggest jump since 2012, rise 8.2 pct y/y in Nov
  • Zimbabwe finance minister says “bond notes” to stay for now
  • Niger Delta Avengers say they will attack Nigeria’s oil sector within days
  • Ugandan shilling edges up against the dollar
  • Uganda’s 91-day treasury bill yield inches down
  • Kenyan shilling rises to a 5-week high against the dollar
  • South African competition tribunal approves Maseve Mine sale transaction
  • Scandal-hit KPMG South Africa appoints new chairman
  • Malawi’s December inflation slows to 7.1 pct y/y

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

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