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