#Africa #Markets | 21 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks extend recovery as trade worries take back seat
  • Nikkei hits 8-month high
  • Strong earnings outlook outweigh immediate worries on trade
  • Euro at 2 1/2-mth high vs dollar

Oil Markets

  • Oil prices mixed as Trump calls on OPEC to lower prices
  • US president Trump urges OPEC to lower prices
  • OPEC, its allies to gather on Sunday in Algeria
  • They are unlikely to discuss crude output increases
  • Brent crude futures up 5 cents at $78.75 a barrel (0424GMT)
  • US WTI crude futures down 8 cents to $70.24 a barrel

Precious metals

  • Gold rises on weaker dollar, heads for 1st weekly gain in four
  • Spot gold up 0.2 pct at $1,209.38 per ounce (0036GMT)
  • US gold futures up 0.3 pct at $1,214.30 an ounce

Grains

  • Soybeans edge lower, but set for biggest weekly gain in 5 weeks
  • Most active CBOT wheat futures down 0.4 pct at $5.22 per bushel (0109GMT)
  • Most active corn futures up 0.4 pct at $3.54 per bushel
  • Most active soy futures down 0.6 pct at $8.45-1/2 per bushel
  • Most active rice futures down 0.3 pct at $9.85 per hundredweight

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

  • South Africa’s Ramaphosa to announce economic stimulus package today
  • 4th Bank of Uganda lecture today: “Beyond manufacturing: Structural change in Africa reconsidered”

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

  • Tunisia’s main public sector union calls nationwide strike
  • Ugandan musician turned MP vows to continue “fight for freedom” against govt
  • At least 42 drowned in Tanzania’s Lake Victoria ferry sinking, death toll could top 200 – officials
  • Trump to meet Israel, Egypt, Japan leaders at UN next week – White House
  • Split South African central bank holds rates, exposing wider tensions
  • World bank disburses $500 mln loan to support Tunisia budget
  • Libyan oil firm to resume flights to Wafa oilfield after protest ends – field worker
  • Zambia says donor witholding nearly $34 mln over mismanagment
  • Ghana’s govt pulls planned 5-yr local currency bond
  • Uganda to deploy ebola vaccine if virus spreads from Congo
  • Eastern Libya follow Tripoli with quasi-devaluation to tackle black market
  • Gupta brother denies threatening to kill South African former minister
  • Egypt court frees Mubarak’s sons on bail in share-dealing case
  • South Africa’s ruling ANC retracts statement on monetary policy
  • Africa Crude – Nigerian diffs ease ahead of rising crude supply
  • METALS-Copper pulls back as economic growth worries return
  • Kenya assembly backs halving of fuel tax amid anger at living costs
  • Ghana’s Cocobod signs $1.3 bln syndicated loan for 2018/19 cocoa buying
  • Tanzania suspends US-funded family planning ads on radio, television
  • South Africa’s ANC economic head criticises statement issued by party on rate decision
  • Egypt inks $352 mln deal with Siemens to manage power stations
  • World Bank revises Zambia’s 2018 economic growth forecasts downwards; now sees it below 4 pct
  • Kenya speaker upholds parliament’s approval of 8 pct tax on fuel
  • Libya sets fee on currency transactions to tackle black market
  • South Africa’s ruling party urges central bank to help poor
  • Morocco’s Attijariwafa Bank first half net profit up 6.35 pct
  • Police take Ugandan opposition leader Kyagulanyi home after he returns from abroad
  • South Africa’s central bank leaves repo rate at 6.5 pct
  • Italian judge jails two in Nigerian oil graft case
  • Liberia passes landmark law to secure ancestral land rights
  • Oil and gas company SDX Energy confirms talks with BP to buy assets in Egypt
  • Ghana’s Cocobod in talks with international lenders for $300 mln medium-term loan
  • Africa-focused buyout firm DPI buy irrigation company CMGP for $100 mln
  • South Africa’s cabinet approves new mining charter
  • Plot, poison, or curse? Ebola rumours spread in Congo
  • Rocket Internet prepares IPO for African platform Jumia – sources
  • OPEC unlikely to agree official output increase in Algeria, but pressure mounts
  • South Africa’s Pick n Pay sees jump in HY profits
  • Ghana’s market women score win against forced eviction
  • Guards shut airport at Libyan Wafa oilfield – NOC
  • Mali eyes 3.4 pct budget rise for 2019 to tackle security problems
  • South Africa’s state pension fund invests $100 mln in Afreximbank
  • Kenyan shilling unchanged, expected strengthen
  • Uganda shilling unchanged as demand from energy, manufacturing slows
  • MTN shares rise after Nigeria says reviewing information to resolve $8.1 bln dispute
  • South Africa has no plans to return to international bond markets in 2019
  • South African man arrested for racist rant at Ramaphosa

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

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