#Africa #Markets | 25 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks slip as US-China trade row revives growth fears; oil elevated
  • MSCI Asia-Pacific index down 0.2 pct, Nikkei up 0.15 pct
  • Global trade war fears rekindled as US-China tariffs kick in
  • Euro steadies after touching 3-1/2-mth peak on Draghi comments
  • Looming Iran sanctions, OPEC defying calls to up output to lift oil

Oil Markets

  • Oil rises to within 4-yr high as producers resist output increase to offset Iran sanctions
  • US sanctions to target Iran’s oil exports from November
  • OPEC, Russia so far resist calls to raise output
  • High oil prices threaten emerging market growth
  • Brent crude futures up 0.3 pct at $81.42 per barrel (0315GMT)
  • US WTI crude futures up 0.3 pct at $72.26 a barrel

Precious metals

  • Gold steady amid trade tensions, eyes on US Fed
  • Spot gold barely changed at $1,198.28 (0056GMT)
  • US gold futures down 0.2 pct at $1,202.60 an ounce

Grains

  • Soybeans hit 5-day low as bumper harvest outstrips estimates
  • Most active CBOT wheat futures down 0.5 pct at $5.24-1/2 per bushel (0100GMT)
  • Most active corn futures down 0.4 pct at $3.59-1/4 per bushel
  • Most active soy futures down 0.2 pct at $8.39-1/4 per bushel
  • Most active rice futures unchanged at $9.83 per hundredweight

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

  • Nigeria’s Buhari to address UN General Assembly today; other African heads of state too
  • Nigeria’s central bank to decide interest rates today [fcst. 14.0%, prev. 14.0%]
  • Kenya’s central bank to decide interest rates today [fcst. 9.0%, prev. 9.0%]

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

  • US diplomat found dead in Madagascar – State Dept
  • Aid delivered after deadly mudslides in Sudan’s Darfur
  • Canada’s Barrick Gold to buy Randgold for $6.5 bln
  • Ivory Coast ruling coalition splits over feud
  • South Sudan govt forces, rebels clash within weeks of peace deal
  • Three workers reportedly kidnapped near Burkina Faso gold mine
  • Senegalese chef puts super grain on New York menus to boost African farmers
  • Aquarius migrant ship calls on Europe for help, sails to Marseille
  • Actis, TPG picked to take over some Abraaj funds – sources
  • Africa Crude – Spot trade slows, Platts eyes WAF grades for dated Brent
  • As Tripoli vilence rises, France wants sanctions on militias
  • Egyptian court confirms 20 death sentences over killing of policemen
  • Prince William visits Namibia on conservation tour
  • Liberians take to the streets to demand return of lost millions
  • Burkinabe farmer wins ‘alternative Nobel’ for drought-fighting technique
  • London court extends injunction against Djibouti co. in DP World dispute – Dubai govt
  • South Africa’s Life Healthcare not ruling out return to India after Max disposal
  • Kenya central bank says rate setting meeting will be Tuesday
  • Libya’s coast guard rescues 235 migrants off western coast
  • Bank of Ghana keeps policy rate unchanged at 17 pct
  • Egypt cancels 5- and 10-yr treasury bond auction
  • Morocco’s OCP and China’s Hubei Forbon team up to develop fertilisers
  • Ugandan shilling a touch stronger on slower importer demand
  • Israel’s Netanyahu to meet Egypt’s Sisi in New York – Israeli official
  • Kenyan governor denies murdering pregnant lover
  • Kenyan troops kill 10 al Shabaab fighters – army
  • Moroccos’s finance hub issues 335 mln dirhams green bond
  • Actis picked to take over Abraaj’s Africa funds – sources
  • Tullow Oil abandons first Namibian well, keeps options open
  • Kenyan shilling eases due to importer dollar demand
  • In Nigeria, Shell’s onshore roots still run deep
  • IMF says Egypt’s structural reforms key for sustainable development

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

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