#Africa #Markets | 13 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares pare losses on US-China trade optimism, oil slides
  • MSCI ex-Japan off 1.4 pct, Nikkei plunges over 3 pct
  • Asian suppliers of iPhone parts down sharply
  • Euro breaks key chart support of $1.13 to lowest since mid-2017
  • Dollar benefits from euro, pound sell-off, US rate hike bets

Oil Markets

  • Oil falls as Trump raps OPEC’s supply cut plan, global markets skid
  • Brent below $70/b, WTI below $60/b amid broader market woes
  • Saudi Arabia says there is need to cut 1 mln bpd of supply
  • Trump says OPEC should not cut supply
  • Brent crude futures down 0.9 pct at $69.47 per barrel (0214GMT)
  • US WTI crude futures down 1.3 pct at $59.15 per barrel

Precious metals

  • Gold prices inch up after hitting 1-mth low
  • Spot gold up 0.2 pct at $1,202.99 per ounce (0125GMT)
  • US gold futures flat at $1,203.4 per ounce


  • Wheat slips from 3-wk high, soybeans rise
  • Most active CBOT wheat futures down 0.4 pct at $5.17-3/4 per bushel (0344GMT)
  • Most active corn futures down 0.3 pct at $3.70-1/4 per bushel
  • Most active soy futures down 0.3 pct at $8.85-3/4 per bushel
  • Most active rice futures unchanged at $10.65 per hundredweight

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

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

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

  • South Africa’s Telkom H1 adjusted headline EPS up 10.3 pct
  • Tunisia must control wage bill, IMF warns after deal with union
  • Tunisia parliament approves prime minister’s cabinet reshuffle
  • Tunisia expects record number of tourists, up to nine million in 2019
  • Egypt tells Israel it needs to de-escalate Gaza violence
  • Two Congo opposition leaders pull support for joint election candidate
  • Libya rivals arrive for Italy summit after election shelved
  • Management contributed to collapse of Nigeria’s Skye Bank – deposit insurer
  • UN Security Council set to lift Eritrea sanctions on Wednesday
  • Dozens in court as Ethiopia says security chiefs ordered attack on PM
  • Nigeria telecoms regulator approves Teleology takeover of 9-mobile
  • Kidnappers free last of 80 Cameroon schoolboys
  • IMF says held constructive talks with Zambia on restoring debt sustainability
  • Sierra Leone ruling against palm oil company will empower communities – campaigners
  • Women cancer patients learn makeup tips in new Egypt workshop
  • South Africa’s Brait first-half net asset value falls
  • Africa Crude – Weak Asian demand, high freight weigh
  • Congo opposition supporters protest against joint election candidate
  • Ivory Coast Oct cocoa grinding unchanged y/y – exporter stats
  • Migrants rescued by cargo ship refuse to disembark at Libyan port
  • Egypt Sisi to visit Italy for Libya conference
  • South Africa’s competition watchdog rules SABC, Multichoice deal a merger
  • Ethiopia also arrested 27 METEC employees, police officials
  • Ethiopia’s attorney-general alleges vast corruption at military-run Metec
  • Ethiopia arrests 36 intelligence officials over alleged corruption, rights abuses
  • Egypt sells 695.10 euros in 1-yr euro-denominated t-bills – cbank
  • Mubadala to buy 20 pct interest in Egypt’s Nour offshore concession from Eni
  • Italy hosts Libya conference to push new UN peace plan
  • Kenyan shilling under pressure due to oil importer dollar demand
  • Uganda shilling steady as pending taxes trim demand
  • Zimbabwe invites bids for struggling national airline
  • South Africa’s Eskom warns of power cuts due to low coal stockpiles
  • Kenya to sell 20-yr infrastructure bond worth 50 bln shillings in Nov- cenbank
  • South Africa Vodacom H1 profit down 13.5 pct

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

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