#Africa #Markets | 20 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stock markets tumble on tech sell-off, dollar sags
  • MSCI Asia-Pacific index down 0.9 pct, Nikkei sheds 0.85 pct
  • Tech shares fall, tracking losses by Wall St peers
  • Dollar sags after weak US housing-related data
  • Long-term US yields hover near 7-wk lows

Oil Markets

  • Oil treads water amid expected OPEC cuts, gloomy economic outlook
  • OPEC, allies to meet on Dec. 6 to discuss supply cuts
  • Cuts would counter demand slowdown, surge in US output
  • IEA warns of “negative implications” of supply cuts
  • Cautious investors have pulled large investments out of oil
  • Brent crude futures down 4 cents at $66.75 per barrel (0250GMT)
  • US WTI crude futures down 6 cents at $57.14 per barrel

Precious metals

  • Gold prices steady amid softer dollar
  • Spot gold down 0.1 pct at $1,222.71 per ounce (0117GMT)
  • US gold futures down 0.2 pct at $1,223.5 per ounce

Grains

  • Soybeans edge higher, US-China trade war anxiety curbs gains
  • Most active CBOT wheat futures down 0.3 pct at $4.97 per bushel (0137GMT)
  • Most active corn futures up 0.1 pct at $3.62-1/2 per bushel
  • Most active soy futures up 0.1 pct at $8.74-1/4 per bushel
  • Most active rice futures unchanged at $10.77 per hundredweight

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

  • South Africa’s state capture inquiry continues; Gordhan to continue testimony
  • Public holiday in Nigeria

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

  • Africa Crude – Angolan January programme emerges; no sign of Nigerian plans
  • Soccer-Spain, Portugal propose 2030 World Cup bid with Morocco – PM
  • South African opposition wants payments to Ramaphosa campaign fund investigated
  • US Treasury places sanctions on Libyan Islamist commander Badi
  • US sanctions South African for helping North Korea acquire oil
  • Kenya bans charity Marie Stopes from providing abortion services
  • Congo spy agency informant, army colonel deny role in UN experts’ killing
  • Mali singer Salif Keita highlights plight of African albinos
  • South Africa’s Naspers sees higher first-half core headline profit
  • Portugal, Morocco to invite bids for power link after studies in 2019
  • IMF says optimism in South Africa’s economic recovery fading
  • Egypt sells $1.7 bln worth of dollar t-bills – central bank
  • Mali to produce lithium by 2020 with 694,000 T discovered
  • Nigeria’s Abubakar promises to boost oil investment, cut subsidies if elected
  • Union to strike at Sibanye-Stillwater’s South African gold operations
  • Nigeria opposition’s Abubakar says to invest $90 bln annually on infrastructure – election manifesto
  • Uganda shilling firmer, helped by remittance inflows
  • Zimbabwe to let gold, platinum mines retain higher dollar earnings
  • South Africa’s Barloworld in talks to buy a Caterpillar business
  • Kenyan shilling inches up against the dollar
  • Kenyan logistics start-up Sendy plans second fundraising
  • Zimbabwe allows gold mining firms to retain 55 pct of dollar earnings
  • South Africa’s Netcare to pay special dividend, FY earnings inch up
  • South Africa’s Astral Foods FY profit soars 88 pct
  • South Africa’s Barloworld FY profit jumps on strong Russian business

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

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