#Africa #Markets | 19 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks, US treasury yields climb as trade row fails to dent confidence
  • MSCI Asia-Pacific index up 0.7 pct, Nikkei rises 1.5 pct
  • Trade salvos taken in stride, but trade war to remain key worry
  • Long-term US yields near 4-mth highs amid ebb in risk aversion
  • Oil prices consolidate after rally

Oil Markets

  • Oil prices steady as concerns about producer output outweigh US stockpile gain
  • Brent crude futures down 9 cents at $78.92 per barrel (0334GMT)
  • US WTI crude futures down 0.1 pct at $69.81 a barrel

Precious metals

  • Gold prices inch up as dollar eases despite trade dispute
  • Spot gold up 0.1 pct to $1,199.18 an ounce (0044GMT)
  • US gold futures up 0.1 pct at $1,203.70 an ounce

Grains

  • Soybeans linger near decade low as US-China trade war escalates
  • Most active CBOT wheat futures up 0.6 pct at $5.13-1/2 per bushel (0026GMT)
  • Most active corn futures up 0.1 pct at $3.43-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.15-1/4 per bushel
  • Most active rice futures unchanged at $10.05 per hundredweight

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

  • South Africa’s COSATU congress continues today (day 3; 17-20 Sep)
  • Final day of African ports and hinterland connectivity conference in Abuja (17-19 Sep)
  • South Africa consumer inflation data for August expected [fcst. 5.6% yy, prev. 5.1%]
  • South Africa’s state capture inquiry continues
  • Day 2 of Bank of Ghana MPC meeting (18-20 Sep); decision on 24 Sep

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

  • Firestone reduces Liberia rubber wood output as low prices bite
  • South Africa sea snails under threat from surge in poaching – report
  • Donors halt aid to Zambian social welfare scheme over suspected misuse
  • Egypt sees surge in share offerings, testing market
  • eSwatini police, crowd clash during wage, pension fund protests
  • Soccer-Sierra Leone FIFA ban after anti-graft officials raid FA offices
  • Uganda to require telecom firms to list on local bourse
  • Africa Crude – Asia tenders keep spot Nigerian and Angolan trade muted
  • South African utility Eskom delays completion of new strategy
  • Iranian oil minister will not attend OPEC meeting in Algeria
  • Algeria energy export volumes down 2.8 pct in first quarter – ministry
  • Italian priest kidnapped overnight near Niger’s southern border
  • British fund Gemcorp extends $250 million loan to Zimbabwe – CEO
  • Zimbabwe opposition lawmakers walk out of Mnangagwa address
  • Sibanye-Stillwater, Lonmin still committed to merger after competition watchdog decision
  • Campaigners demand anti-FGM law as girls bleed to death in Somalia
  • Uganda shilling unchanged, forecast to weaken due to energy sector dollar demand
  • South Africa’s highest court gives green light to private use of cannabis
  • Italy judge set to give first ruling in Nigeria oil graft case
  • Militia fighting in Tripoli knocks out power in parts of Libya
  • Botswana trims growth prospects, sees wider budget deficits; 2.3 pct of GDP in 2018
  • South African fintech JUMO to expand in Asia with Goldman Sachs backing
  • Nigeria’s trafficking curse: the battle to dispel the black magic behind sex slavery
  • Uganda to renew operating license of local unit of MTN Group
  • Kenyan shilling gains slightly on inflows, commercial bank dollar sell-off
  • Vivo closes Engen purchase, excludes DRC
  • Bertelsmann to expand customer service alliance with Morocco’s Saham
  • Africa’s rapid population growth puts poverty progress at risk, says Gates

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

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