#Africa #Markets | 24 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares wobble as China cancels trade talks with US; oil rallies
  • Markets in Japan, South Korea, China closed for holiday
  • Investor focus on Sino-US trade war, Brexit, Fed meeting
  • US tariffs on $200 bln Chinese imports take effect
  • MSCI ex-Japan falls, E-minis for US stocks a tad weaker

Oil Markets

  • Oil rises as markets tighten ahead of iran sanctions
  • US crude inventories at lowest level since 2015
  • Tighter US market comes ahead of new Iran sanctions
  • Brent crude futures up 1.2 pct at $79.74 per barrel (0036GMT)
  • US WTI crude futures up 1.1 pct at $71.52 a barrel

Precious metals

  • Gold inches down on firm dollar as China halts trade talks
  • Spot gold down 0.2 pct at $1,196.51 (0039GMT)
  • US gold futures largely unchanged at $1,201.1 an ounce

Grains

  • Soybeans slumps nearly 1 pct as China cancels trade talks with US
  • Most active CBOT wheat futures down 0.1 pct at $5.21-1/2 per bushel (0030GMT)
  • Most active corn futures down 0.3 pct at $3.56-1/4 per bushel
  • Most active soy futures down 0.8 pct at $8.40-3/4 per bushel
  • Most active rice futures unchanged at $9.88 per hundredweight

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

  • Kenya interest rate decision today [fcst. 9.0%, prev. 9.0%]
  • Ghana interest rate decision today [fcst. 17.0%, prev. 17.0%]
  • UN general assembly in focus as heads of state arrive New York city
  • Protests expected in Liberia today over missing central bank funds
  • Inconclusive Osun state elections in southwest Nigeria could become subject of litigation at tribunal even before planned supplementary polls on Thursday; to be in focus all week

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

  • Rebel attack in Congo ebola zone kills 18
  • Nigerian maritime agency identifies nationalities of 12 abducted ship crew
  • Tanzania ferry death toll rises to 224, ship’s manager detained
  • Tripoli clashes leave 115 dead, 383 injured – health ministry
  • In Nigeria, Shell’s onshore roots still run deep
  • Two car bombs explode in Somali capital, one dies
  • Pirates kidnap 12 crew members from Swiss vessel in Nigerian waters – ship operator
  • Africa’s nomadic herders help, not harm, land and planet – UN
  • US military says US airstrike kills an estimated 18 Somali militants
  • Libya’s AGOCO resumes 3,000 bpd production at abandoned well in Messla
  • Nigeria oil unions threaten nationwide strike over Chevron dispute
  • Morocco extradites ex-priest to face abuse charges in New Mexico
  • Nigeria’s central bank withdraws Skye Bank’s operating licence
  • Zimbabwe’s new finance minister says ‘fiscal shock’ needed for reform
  • Why weeds could provide an answer to Cape Town’s water worries
  • Africa Crude – Unipec snaps up Sonangol spot cargoes
  • Congo central bank revises 2018 GDP estimate down to 4.1 pct from 4.2 pct
  • Congo confirms evboal case at Ugandan border
  • Tunisia’s weakened premier unlikely to push reform as polls loom
  • France to press Mali to implement peace deal with rebels
  • Chad names fourth fiance minister in a year
  • Moroccan dairy and water duo feel the impact of boycott campaign
  • US may aid Liberia in search of missing millions
  • Travellers wait as fighting shuts runways in Libya
  • South Africa rhino poaching drops sharply but hundreds still being killed
  • South Africa’s Life Healthcare not ruling out return to India after Max disposal
  • South Africa’s Ramaphosa outlines stimulus plan for ailing economy
  • Kenya’s president signs finance bill with contested new taxes into law
  • Kenyan shilling steady amid flat importer appetite
  • Morocco’s CPI drops to 1.7 pct y/y in August
  • South Africa’s NUM union signs wage deal with AngloGold
  • South Africa to reallocate $3.5 bln of budget to revive economy – Ramaphosa
  • South Africa’s Clicks CEO to retire, names insider as successor

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

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