#Africa #Markets | 19 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares inch up, Fed caution curbs dollar
  • Nikkei up 0.4 pct, but US stock futures slip
  • Mixed signals on prospect of Sino-US trade thaw
  • Dollar subdued as Fed talks about global risks
  • Oil prices recoup some losses on chance of output cut

Oil Markets

  • Oil rises on expected OPEC cut, but markets remain wary
  • US oil drilling points to more output
  • Brent crude oil futures up 0.8 pct at $67.29 per barrel (0045GMT)
  • US WTI crude futures up 1.1 pct at $57.07 per barrel

Precious metals

  • Gold prices hold steady amid subdued dollar
  • Spot gold up about 0.1 pct at $1,222.14 per ounce (0111GMT)
  • US gold futures flat at $1,222.8 per ounce

Grains

  • Soybean prices drop as US-China trade friction mounts
  • Most active CBOT wheat futures down 0.1 pct at $5.06-1/4 per bushel (0155GMT)
  • Most active corn futures unchanged at $3.64-3/4 per bushel
  • Most active soy futures down 0.3 pct at $8.90 per bushel
  • Most active rice futures unchanged at $10.89 per hundredweight

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

  • South Africa’s state capture inquiry resumes today; enterprise minister Gordhan to testify
  • Nigeria’s leading opposition presidential aspirant Abubakar to present policy document today; incumbent Buhari did same yesterday

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

  • Nigeria’s Buhari launches re-election bid with corruption still in focus
  • South Africa’s Eskom cuts 1,000MW of power from grid on Sunday
  • Nigeria in talks with South Africa’s Transnet for railway concession
  • Central African war crime suspect “Rambo” handed to global court
  • Egypt and Ethiopia to discuss Nile dam dispute – PM
  • Remittances from Egyptians abroad rise 20.4 pct y/y in Sept – c.bank
  • Egypt’s Pioneers Holding makes bid for Electro Cable Egypt
  • World Bank re-engages Tanzania on scrapped education plan
  • Two ex-leaders look set for second round in Madagascar presidential poll
  • Soccer-Nigeria seal Nations Cup place with draw in South Africa
  • Over 40 killed in attack in refugee base in Central African Republic
  • Soccer-Salah scores late winner for Egypt, Morocco sink Cameroon
  • Mortar bombs fired at UN peacekeeping base in eastern Congo
  • Morocco’s Mutandis launches IPO to raise 400 mln dirhams in Casablanca
  • Twelve Congolese soldiers killed in clashes this week in ebola-hit east
  • Number of hungry children in Africa’s Sahel hits 10-yr high
  • Africa Crude – Traders await January programmes
  • At least 42 dead as flames gut bus in Zimbabwe
  • Barrick Gold aims to boost dividend in future – incoming CFO
  • Nigerian millenials fuel domestic tourism
  • Algeria shelves subsidy reforms before presidential elections
  • Uganda shilling little changed amid thin importer demand
  • Invasive trees targeted by new South Africa anti-drought fund
  • Tractor maker Deere aims to ride green revolution in Africa
  • South Africa’s Eskom revises coal contract strategy, seeks supply security
  • Kenya central bank upholds fines against lenders for suspect transactions
  • Kenya shilling weakens on energy sector demand, stays at 10-mth low

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

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