#Africa #Markets | 20 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian markets follow global shares higher, trade war still in focus
  • MSCI Asia-Pacific ex-Japan index up 0.05 pct
  • Nikkei up 0.2 pct

Oil Markets

  • US oil prices climb amid drop in stockpiles, strong gasoline demand
  • Brent crude futures down 2 cents at $79.38 per barrel (0018GMT)
  • US WTI crude futures up 0.4 pct at $71.43 a barrel

Precious metals

  • Gold prices steady as easing trade concerns drag on dollar
  • Spot gold little changed at $1,203.86 per ounce (0106GMT)
  • US gold futures up 0.1 pct at $1,209 an ounce

Grains

  • Soybean prices edge down, linger near decade-low
  • Most active CBOT wheat futures down 0.1 pct at $5.22 per bushel
  • Most active corn futures down 0.1 pct at $3.45-1/2 per bushel
  • Most active soy futures down 0.1 pct at $8.29-1/4 per bushel
  • Most active rice futures up 0.8 pct at $9.88 per hundredweight

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

  • Final day of South Africa’s COSATU congress today
  • Bank of Ghana to conclude MPC meeting today; announcement of decision on 24 Sep [fcst. 17.0%, prev. 17.0%]
  • South Africa interest rate decision [fcst. 6.5%, prev. 6.5%]
  • South Africa’s state capture inquiry continues
  • Uganda’s popular opposition politician BobiWine to return home from the US for medical treatment today; high tension palpable in Kampala
  • Kenya’s parliament to debate Kenyatta proposals for 2018 finance bill in test for “handshake” with opposition leader Odinga

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

  • Nigeria’s central bank says reviewing information to resolve $8.1 bln MTN repatriation
  • Libya imposes fee on hard currency transactions to bridge black market gap
  • Zimbabwe president reshuffles top ranks of civil service
  • Kabila candidate faces divided challenge in Congo presidential poll
  • Nigeria to suspend national airline project
  • Egypt “resilient” to emergingh market turbulence – minister
  • Coca-Cola moving ahead with takeover of Nigeria’s Chi juice
  • International court sentences Congo politician Bemba for witness tampering
  • Liberia loses $104 mln in central bank cash, bans 15 from foreign travel
  • Africa Crude – Nigerian programmes begin to emerge, Angolan allocations awaited
  • Burkina Faso arrests dozens for FGM in biggest crackdown yet
  • Egypt to sell around $5 billion in foreign currency bonds in coming months – finmin
  • Zimbabwe seeks $35 million to fight cholera outbreak
  • Italy court finds Saipem guilty in Algeria corruption case, acquits Eni
  • Zambia fires minister in charge of misused donor funds
  • Egypt to evaluate method of further state company sales in Jan – finmin
  • Egypt dealing with emerging market turbulence – finmin
  • Uganda bans rallies by supporters of opponent of Museveni
  • Kenya’s finance minister cuts 2018/19 govt spending by 1.8 pct
  • Zambia’s kwacha falls over size of country’s debt, aid freeze
  • Lower inflation eases pressure on South Africa’s central bank to match EM hikes
  • Amnesty says crackdown turns Egypt into an “open air prison” for critics
  • Naspers frees cash-rich Multichoice to take on Netflix & co
  • Nigerian military struggles against Islamic State of West Africa – sources
  • Algeria plans 1.5 pct spending cut next year – govt document
  • Johannesburg stock exchange looks to tighten listing rules
  • Kenyan shilling unchanged, draws support from charity flows
  • Ugandan shilling weakens as banks’ and manufacturing demand weighs
  • South Africa’s CPI slows to 4.9 pct y/y in August
  • South Africa’s Sasol, union begin talks to end strike
  • Kenyan president proposes tax hike on money transfer services – documents
  • Morocco plays cat and mouse with Africans headed to Europe

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

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