#Africa #Markets | 22 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Stocks, dollar sag after US govt shutdown
  • US dollar slips, S&P 500 futures fall
  • US bond prices also drop, 10-yr yield at 3 ½-year high
  • South African rand shines, Turkish lira drops on Syria conflict

Oil Markets

  • Oil rises as Saudi Arabia says producers will cooperate beyond 2018
  • Strong global economy also supports oil market
  • US drillers cut rigs to 747 in week to Jan. 19, down 5
  • But analysts say oil demand to slow in Q1 2018

Precious metals

  • Gold up on safe haven buying after US govt shutdown
  • Spot gold up 0.2 pct to $1,334.10 an ounce (0046GMT)
  • Spot gold fell 0.5 pct last week, its 1st weekly decline in 6 weeks
  • US gold futures up 0.1 pct at $1,333.80

Grains

  • Soybean prices hit 5-wk high on Argentina weather worries
  • Most active CBOT soybean futures up 0.5 pct at $9.82-1/2 a bushel (0143GMT)
  • Most active corn futures up 0.4 pct at $3.54 a bushel
  • Most active wheat futures up 0.8 pct at $4.26-3/4 a bushel

Soft commodities (19 Jan)

  • Cocoa prices drop as charts, weak grind data prompt selling spree
  • March New York cocoa settled down 2.67 pct at $1,931 per tonne
  • March London cocoa settled down 1.64 pct at £1,380 per tonne
  • March raw sugar settled up 1.3 pct at 13.25 cents per lb
  • March white sugar up 0.11 pct at $353.50 per tonne
  • Front-month arabica coffee settled up 0.12 pct at $1.2125 per lb
  • March robusta coffee settled down 2.06 pct at $1,756 per tonne

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

  • Liberia inauguration of new president George Weah today
  • Ghana interest rate decision [fcst. 19.0%, prev. 20.0%]
  • Kenya interest rate decision [fcst. 9.0%, prev. 10.0%]

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

  • Lone operators, not criminal gangs, dominate people smuggling from Africa – study
  • Nigeria’s central bank says won’t hold interest rate meeting, rate to be held at 14 pct
  • Congo security forces kill six while dispersing anti-Kabila protest
  • Protesters demanding jobs clash with police in Tunisian town
  • Ethiopia leader rejects call for World Bank arbitration in dam dispute
  • Failure to launch: Egypt opposition hits roadblock on path to presidency
  • Egypt targets 8-10 floatations of state firms over 18 mths – finance minister
  • Somali president sacks Mogadishu mayor, names replacement
  • Egypt pays $200 mln in foreign oil company arrears in Jan – finmin
  • South Africa’s ANC to force Zuma to quit as president – reports
  • South Africa names Jabu Mabuza as Eskom chairman in board shake-up
  • Zimbabwe tells illegal vendors to quit Harare streets, may use army to clear them
  • Airport in Libya’s capital reopens after closure due to clashes
  • Two Americans, Two Canadians freed after kidnapping in Nigeria – police
  • Ex-military chief of staff to run in Egypt presidential election
  • Egypt’s Sisi to run for second term in March election
  • South African ministry agrees to pay state broadcaster $12,200 for interview, stirs outcry
  • UN warns of lost generation in South Sudan’s grinding conflict
  • Ghana’s 91-day bill yield dips to 13.32 pct
  • At least a dozen Congo soldiers killed in east
  • Kenyan doctor goes to court to legalise female genital mutilation
  • Magufuli bans registration of foreign ships in Tanzania, orders probe
  • UN seeks release of more Ethiopian political detainees, reforms
  • Tanzania tells Swala Oil to delay purchase of 40 pct stake in Orca unit
  • Nigeria plans to raise up to 385 billion naira in local bonds in first quarter
  • Mauritius’ 15-year treasury bond yield at 5.21 pct
  • Mauritius’ 91-day treasury bill yield climbs to 2.45 pct
  • South African cement maker PPC reschedules Congo plant debt
  • Ivory Coast court sentences former Gbagbo minister to 15 yrs
  • Uganda’s Museveni says might resume executions
  • South Africa’s 3-mth t-bill average yield inches down to 7.37 pct
  • Former South African homeland leader Mangope dies
  • Nigeria’s sues JP Morgan for $875 mln over Malabu oilfield deal
  • Zimbabwe ruling party fires 11 Mugabe allies from parliament
  • South Africa’s NUM union says branch leader at Lonmin unit shot dead

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

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