#Africa #Markets | 28 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Nikkei hits 27-yr high on strong dollar, Wall Street gains
  • Nikkei 225 touches highest level since Nov. 1991
  • MSCI Asia ex-Japan up 0.1 pct
  • Dollar hits 2018 high against yen

Oil Markets

  • Oil prices edge up amid uncertainty over fallout from Iran sanctions
  • Brent crude futures up 0.2 pct at $81.56 per barrel (0126GMT)
  • US WTI crude futures up 0.3 pct at $72.33 per barrel

Precious metals

  • Gold holds near 6-wk lows as dollr firms on robust US data
  • Spot gold up 0.1 pct at $1,183.58 (0103GMT)
  • US gold futures flat at $1,187.30 an ounce

Grains

  • Soybean price edge up, but set to finish the quarter down 2.5 pct
  • Most active CBOT wheat futures unchanged at $5.13 per bushel (0325GMT)
  • Most active corn futures down 0.1 pct at $3.64-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.56-1/4 per bushel
  • Most active rice futures up 0.2 pct at $9.80 per hundredweight

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

  • South Africa’s state capture inquiry continues today
  • UN General Assembly debate continues in New York today; African heads of state due to speak are those of South Sudan, Mauritius, Tunisia, Lesotho, Chad, Guinea, and Libya
  • South Africa August trade [prev. ZAR-4.7B] and Q3 consumer confidence [prev. 22] data due
  • Nigeria manufacturing PMI for August to be released [prev. 57.1]
  • Nigerian non-manufacturing PMI for August due [prev. 58]
  • Nigeria FX reserves data for September expected [prev. $45.91B]
  • Kenya inflation data for September expected [fcst. 5.1% yy, prev. 4.0%]
  • Kenya Q2 2018 GDP data expected [fcst. 5.8% yy, prev. 5.7%]
  • Uganda inflation data for September expected [fcst. 3.6% yy, prev. 3.8%]

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

  • Congo state miner warns Randgold on transfer of Kibali mine to Barrick
  • Egypt probes death of monk from murdered bishop’s monastery
  • Egypt’s central bank keeps main interest rates unchanged
  • Nigerian unions start general strike over minimum wage
  • Conquering Kilimanjaro: Women with albinism set to scale Africa’s highest peak
  • South African state firm Transnet says intends to remove CEO
  • South Africa’s Woolworths makes e-commerce push with upgraded app
  • One of Nigeria’s main oil unions says it will join general strike
  • South Africa’s mining employees, communities to get free stake under new charter
  • Africa Crude – Spot trade slim, Tupras seeks waf crude
  • South Africa’s rand rallies post-Fed, stocks fall over 1 pct
  • South Africa’s Eskom gets $205 mln loan from African Development Bank
  • South African anti-apartheid campaigner Tutu in hospital for tests
  • South Africa land reform panel swamped with submissions, asks for delay
  • Cameroon seperatists free 100 prison inmates before election
  • Nigeria state oil firm says general strike not affecting oil ops
  • Zambian kwacha seen gaining, other African currencies mostly stable; next week
  • Morocco’s BCP Bank’s first half net profit rises 1.8 pct
  • Ghana, Ivory Coast cocoa plan to have limited effect on world prices – report
  • South Africa’s MTN tells Nigerian staff to stay at home due to strike
  • Kenyan shilling steady, expected to trade in narrow range
  • Egypt’s Sisi urges peace talks restart at meeting with Israel’s Netanyahu
  • Pipeline deal brings export of Israeli gas to Egypt within sight
  • South Africa, UAE sign extradition treaty that may target Gupta brothers
  • South Africa mines minister maintains 30 pct black ownership target in charter
  • Ugandan shilling holds steady, eyes inflows for support
  • Half of South Africa’s stimulus plan to come from spending shift – finmin

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

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