#Africa #Markets | 14 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Crude oil struggles for traction after plunge, stocks sag
  • US crude struggles near 1-yr low after 7 pct plunge
  • MSCI Asia-Pacific index down 0.4 pct, Nikkei off 0.1 pct
  • Stocks capped after Wall St dips on sliding crude

Oil Markets

  • Oil markets struggle to find footing after 7 pct slump
  • Crude has lost a quarter of its value since early October
  • Jump in supply comes as demand outlook weakens
  • Top 3 oil producers see output surge
  • US WTI crude futures down 15 cents at $55.54 per barrel (0159GMT)
  • Brent crude futures up 4 cents at $65.51 per barrel

Precious metals

  • Gold edges up as dollar drifts away from multi-month high
  • Spot gold up about 0.1 pct at $1,202.55 per ounce (0101GMT)
  • US gold futures up 0.1 pct at $1,203 per ounce

Grains

  • Soybeans firm as USDA pegs harvest pace behind market forecasts
  • Most active CBOT wheat futures down about 0.1 pct at $5.07-1/2 per bushel (0131GMT)
  • Most active corn futures unchanged at $3.66-1/2 per bushel
  • Most active soy futures up 0.1 pct at $8.79-1/4 per bushel
  • Most active rice futures unchanged at $10.90 per hundredweight

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

  • South Africa’s Ramaphosa in Europe for SA-EU summit; 14-15 Nov
  • South Africa retail sales data for Sep-18 due [fcst. 2.5% yy, prev. 2.5%]

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

  • Fast-growing African cities at ‘extreme risk’ from climate change – analysts
  • US senators alarmed if China get control of Djibouti port
  • At least 15 killed in Cameroon in clashes between army, seperatists
  • South Africa’s home affairs minister Gigaba resigns
  • Nigerian firm takes blame for routing Google traffic through China
  • Ethiopia arrests ex-head of army firm in crackdown on security services
  • Morocco expects 50 bln dirhams in mobile payments by 2023
  • Spotify launches in the Middle East and North Africa
  • Africa Crude – Angolan export programmes due, Nigerian market in surplus
  • Sudan expects bidding round to develop oil and gas in Q3 2019
  • Rival Libya leaders meet for first time since May, PM okays 2019 vote
  • Congo’s ebola outbreak to last at least six more months – WHO
  • Zimbabwe’s inflation at highest in a decade as dollar shortage bites
  • MTN making progress to resolve $10.1 bln dispute with Nigeria – CEO
  • Families of freed Cameroonian kidnap victims feared Chibok repeat
  • Turkey withdraws from Libya summit in Italy – vice president
  • Facebook auction of South Sudan child bride could inspire other families – activists
  • MTN aims to offer mobile banking in Nigeria next year
  • Zimbabwe’s October inflation at 20.85 pct, highest since 2008
  • Former head of Ethiopia’s military-run METEC was arrested on Ethiopia-Sudan border
  • Zambia committed to improving debt transparency – president
  • South African court approves winding up graft-hit VBS bank
  • Ugandan shilling steady amid slump in demand for hard currency
  • NNPC says Nigeria will raise oil prodn to 1.8 mln bpd in 2019
  • Zambia committed to improving debt transparency, President Lungu says
  • Libyan leader meets eastern commander in Palermo
  • Kenyan shilling firms, helped by investor inflows into t-bond sale
  • South Africa’s Telkom H1 profit up 10 pct, mobile unit robust
  • Tunisia must control wage bill, IMF warns after deal with union

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

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