#Africa #Markets | 21 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks fall, oil stymied as growth worries grip global markets
  • MSCI Asia-Pacific index down 0.6 pct, Nikkei loses 0.7 pct
  • Oil bounces modestly after big slide, but market still shaky

Oil Markets

  • Oil recovers some losses after 6 pct plunge, but market on edge
  • Global economy going through ‘very difficult time’ – IEA
  • Fearing a glut, OPEC pushes for supply cuts
  • Brent curve has moved into contango
  • Oil price slump led by US crude
  • Brent crude futures up 1.1 pct at $63.19 per barrel (0239GMT)
  • US WTI crude futures up 1.2 pct at $54.09 per barrel

Grains

  • Soybeans edge higher; US-China trade war looms over gains
  • Most active CBOT soybean futures up 0.1 pct at $8.81-3/4 per bushel (0213GMT)
  • Most active corn futures up 0.1 pct at $3.61-1/2 a bushel
  • Most active wheat futures little changed at $5.08-3/4 per bushel

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

  • South Africa’s state capture inquiry continues; Gordhan to conclude testimony
  • Nigeria inflation data for October due [fcst. 11.5% yy, prev. 11.3%]
  • South Africa inflation data for October due [fcst. 5.0% yy, prev. 4.9%]
  • South Africa central bank MPC meeting starts today; decision on 23 Nov
  • Nigeria central bank MPC meeting starts today; decision on 22 Nov

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

  • Libyan coast guards force stranded migrants off container ship
  • South African retailer Pepkor expects FY profits to fall, shares dive
  • Soccer-South Africa’s Tau rescues draw against Paraguay
  • UN praises Chad and Uganda for integrating refugee pupils
  • Migrants losing $25 bln per year through remittance fees – UN
  • Kenya MPs debate giving women a third of parliament seats
  • New Kenyan coastguard to stop foreigners stealing ‘our fish’
  • South African hotel company Tsogo Sun posts flat half-year earnings
  • Russian oil firm signs initial exploration deal with South Sudan – minister
  • Central African Republic war crimes suspect to appear in court Friday
  • South Sudan says signed initial oil exploration agreement with Gazprom Neft
  • Africa Crude – Grades steady, Nigerian programmes awaited
  • Egypt celebrates antiquities musuem before new institution takes the limelight
  • US military says strikes killed over 30 suspected militants in Somalia
  • Egypt says cheap new drug ‘Strox’ threatens its youth
  • Tanzania exchange bureaus raided on suspicion of money laundering
  • Powerful Ethiopian party accuses govt of ethnic crackdown
  • Price hikes could helpo credit rating of South Africa’s Eskom
  • Khashoggi killing complicates Saudi rescue bid for South African arms firm
  • Africa-focused energy producer NewAge to sell Congo field – sources
  • Uganda to make new telecoms investors share infrastructure
  • Uganda shilling unchanged amid flat importer appetite
  • Egypt’s budget deficit in Q1 FY 2018-19 down to 1.9 pct – finmin
  • Kenyan shilling firms against the dollar

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

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