#Africa #Markets | 12 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Sterling tumbles on Brexit turmoil; dollar, oil jump
  • Brexit uncertainty hits pound, euro, buoys dollar
  • MSCI Asia Ex-Japan index down 0.5 pct
  • But European share markets seen opening higher
  • US dollar hits new 16-month high
  • Weak China data, US Fed rate hike expectations weigh
  • Oil prices surge on Saudi production cut plans

Oil Markets

  • Oil prices jump after Saudi Arabia announces December supply cut
  • Saudi Arabia plans December supply cut of 0.5 mln bpd
  • OPEC producers mull supply cuts for 2019
  • OPEC reacts to 20 pct price fall since early October
  • Brent crude oil futures up 2 pct at $71.59 per barrel (0749GMT)
  • US WTI crude futures up 1.6 pct at $61.15 per barrel

Precious metals

  • Gold prices hold steady near 1-mth low
  • Spot gold little changed at $1,209.57 per ounce (0121GMT)
  • US gold futures up 0.3 pct at $1,211.7 per ounce

Grains

  • Wheat rebounds from 1-week low; lean demand caps gains
  • Most active CBOT wheat futures up 0.4 pct at $5.04 per bushel (0144GMT)
  • Most active corn futures down 0.8 pct at $3.69 per bushel
  • Most active soy futures down 0.5 pct at $8.86-1/4 per bushel
  • Most active rice futures unchanged at $10.62 per hundredweight

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

  • South Africa’s state capture inquiry resumes
  • Paris Peace Forum contiunes today; a number of African heads of state in attendance

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

  • South Africa’s Eskom warns of power cuts due to low coal stockpiles
  • Italy’s PM expects Libyan commander Haftar to join Palermo conference
  • South Africa’s rand retreats as dollar surge rattles demand
  • Kenya to sell 20-yr infrastructure bond worth 50 bln shillings in Nov – cenbank
  • South Africa’s Vodacom H1 profit down 13.5 pct
  • Italy hosts Libya conference to push new UN peace plan
  • Congo opposition picks Martin Fayulu as its presidential candidate
  • Egyptian court adds Islamist group to terrorism list
  • Health of Gabon’s hospitalized leader has greatly improved – presidency
  • Tanzania president fires two ministers over cashew nut prices, govt may buy stock
  • Zimbabwe’s unlicensed foreign currency traders face 10-yr jail
  • Egypt’s core inflation accelerates to 8.86 pct y/y in Oct – cbank
  • Egypt’s Banque Misr seeks to borrow $550 mln before end-2018 – vice chairman
  • US concerned by rising attacks on human rights in Tanzania
  • Nigeria names fifth commander in under 2 years to lead fight against Boko Haram
  • Egypt’s headline inflation surges to 17.7 pct in Oct
  • Total plans new offshore Angola well to boost oil output
  • Current ebola outbreak is worst in Congo’s history – ministry
  • IMF sees Namibia’s GDP contracting in 2018
  • Death toll from Somalia hotel attack rises to 39
  • Soccer-Tunisia’s Esperance win African Champions League
  • Libyans want truly national govt, wealth distribution – NGO report
  • Africa Crude – Brisk spot trade on strong diesel margins
  • US appoints Pham as envoy to Africa’s Great Lakes region
  • South African central bank fines HSCB for lax money laundering controls
  • South Africa’s struggling state arms firm Denel fires CFO
  • First food aid to reach Cameroon’s Anglophones after months
  • South Africa’s Tongaat swings to HY loss, shares dive
  • Kenya signs agricultural exports deal with China
  • South Africa’s Sasol to reverse provision over tax dispute
  • Kenyan private equity firm raises $155m in second round funding
  • EU observers say Madagascar presidential vote anomalies are marginal
  • South Africa’s Gold Fields reports drop in Q3 output
  • Kenyan shilling weakens against the dollar due to higher demand
  • Nigeria’s Diamond Bank has not received offers of cash from investors
  • Union demands bailout for South Africa defence group Denel
  • South Africa’s Tiger Brands says FY earnings to fall as much as 30 pct
  • Carmakers lure ride-hailer, delivery drivers in Africa
  • US firm to assemble phones in Uganda
  • South Africa’s Discovery to issue 11.4 mln shares to buy out FirstRand JV stake
  • US OPIC signs $100 mln loan deal with Africell
  • Angola’s net reserves fall further in October to $11.6 bln
  • South Africa’s Life Healthcare flags higher profits
  • Ethiopia says mass grave with 200 bodies uncovered in strife-torn region
  • US concerned about ebola outbreak in Congo conflict zone – official

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

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