#Africa #Markets | 26 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares gain as Shanghai stocks extend recovery
  • Chinese shares outperform, helped by MSCI news
  • Shanghai shares hit 8-week high, up 1.3 pct
  • Fed rate hike fully expected, another one in Dec seen likely
  • Brent oil hits 4-year high before easing

Oil Markets

  • Oil prices drop, Brent moves further away from 4-yr high
  • Brent crude futures down 0.5 pct at $81.44 a barrel (0041GMT)
  • US WTI crude futures down 0.6 pct at $71.88 a barrel

Precious metals

  • Gold inches down as dollar firms; Fed in focus
  • Spot gold down 0.1 pct at $1,200.18 (0057GMT)
  • US gold futures little changed at $1,204.6 an ounce

Grains

  • Soybeans extend gains into second session despite US-China trade war
  • Most active CBOT wheat futures up 0.6 pct at $5.23-3/4 per bushel (0048GMT)
  • Most active corn futures down 0.1 pct at $3.63-1/4 per bushel
  • Most active soy futures up 0.3 pct at $8.48-1/4 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]

  • General debate of 73rd session of UN General Assembly continues in New York City (25 Sep -1 Oct); African leaders scheduled to speak are those of Namibia, Ghana, Mali, Angola, Liberia, Cabo Verde, eSwatini, Kenya, Zimbabwe, and CAR
  • Bloomberg Global Business Forum 2018 in New York City today; selected African leaders in attendance and South Africa’s Ramaphosa on one of plenary panels

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

  • As UN, Congo’s Kabila vows ‘peaceful, credible’ elections
  • Egypt to tour Asian, European markets to prepare for global bond issue – finmin
  • Moroccan woman does after navy fires at speedboat carrying migrants
  • Morocco keeps interest rate unchanged at 2.25 pct, issues first sukuk
  • WHO extremely concerned about Ebola “perfect storm” in Congo
  • Sudan reports outbreak of mosquito-borne Chikungunya disease in eastern state
  • Ivory Coast banks consider offering discount on SAF-Cacao debt
  • BPCE in talks with Morocco’s BCP to sell African banks
  • Congolese activists convicted of inciting anti-Kabila protests
  • Embattled South African construction firm Aveng reports wider FY operating loss
  • Morocco cenbank: FX interbank market functioning well, no need to intervene
  • Morocco to issue first sovereign Islamic bond on Oct. 5
  • Africa Crude – Angolan cargoes see brisk Chinese demand; Nigerian supply rising
  • South African rand on the ropes as stimulus package disappoints; stocks fall
  • Nigeria’s central bank governor optimisti over $8.1 bln MTN transfer dispute
  • Nigeria’s central bank holds benchmark lending rate at 14 pct
  • Kenya central bank holds main lending rate at 9 pct
  • South African stimulus plan unlikely to boost growth much, Fitch says
  • South Africa says national kidnapped in Burkina Faso
  • Son of ex-Angolan president detained in graft probe – ANGOP news agency
  • More than 1,200 detained over deadly Ethiopia violence – police
  • East, West Africa lead continent’s fertilizer uptake push
  • Malawian women struggle for land rights despite equality drive
  • Uganda shilling little-changed amid thin dollar demand
  • Tunisia reforms face fresh strain after president ends Islamist tie-up
  • South African portfolio inflows plummet in second quarter
  • OPEC’s Barkindo calls for cooperation between OPEC and non-OPEC countries
  • South Africa to relax visa rules to boost investment, tourism
  • WHO extremely concerned about ebola “perfect storm” in Congo
  • Standard Bank says Nigeria may review penalty in MTN funds case
  • South Africa’s Alexander Forbes Group terminates CEO Darfoor
  • South African phosphate miner plans London IPO by year-end – CEO
  • US diplomat found dead in Madagascars

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

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