#Africa #Markets | 22 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares tick up but growth worries keep investors on edge
  • Asian shares firm after Wall Street gains overnight
  • Overall sentiment still fragile – ANZ analyst
  • Oil rebounds after steep sell-off earlier this week

Oil Markets

  • Oil prices pressured by rising US crude stocks, but expected OPEC supply cut supports
  • Brent crude oil futures down 0.3 pct at $63.28 per barrel (0141GMT)
  • US WTI crude futures down 0.5 pct at $53.38 per barrel

Grains (21 Nov)

  • Soybean futures up on hopes of progress in US-China dispute
  • Traders await Trump-Xi meeting at G20 summit
  • Weak export demand weighs on wheat futures
  • Corn is little changed before US Thanksgiving holiday
  • Most active CBOT soybean contract ended up 2 cents at $8.83 a bushel
  • Corn gained ½ cent to close at $3.61-3/4 per bushel
  • Wheat slipped 1-3/4 cents to $5.06-3/4 per bushel

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

  • South Africa’s Ramaphosa to address NCOP today
  • Nigeria central bank to decide interest rates [fcst. 14.0%, prev. 14.0%]
  • South Africa central bank to decide interest rates [fcst. 6.5%, prev. 6.5%]
  • South Africa’s state capture inquiry continues, former treasury DG Fuzile to continue testimony
  • Election campaigns kick off in DRC today
  • Mozambique president Filipe Nyusi in Kenya on state visit; 21-24 Nov

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

  • Libyan gunmen free kidnapped Egyptians held over business dispute
  • Congo confirms near record number of new ebola cases on Wednesday
  • IMF says to help Mozambique conduct corruption analysis
  • Lost live, lost billions: the cost of child marriage in Africa
  • Africa Crude – Nigerian programmes slowly emerge, Qua Ibo down in Jan
  • Tens of thousands ‘left to starve’ as Mali conflict escalates
  • 40th Cairo Film Festival embraces virtual reality
  • South African watchdog orders 6-mth hold on job cuts in Sibanye-Lonmin deal
  • Gunmen kidnap Italian volunteer, wound children in Kenya
  • South African utility Eskom’s new strategy to be finalised in February
  • Russian oil firm signs initial exploration deal with South Sudan
  • Violence-ridden Central African Republic on road to famine – UN
  • Uganda to make new telecoms investors share infrastructure
  • South African state pension fund CEO intends to resign – Treasury
  • Gunmen hit Libyan el Sharara oilfield sub-station, output not affected – NOC
  • Egypt stocks slides on blue-chip sell-off, most Gulf markets gains
  • Stanbic sees June 2019 close for $2.5 bln debt deal for Uganda’s oil pipeline
  • Ugandan shilling steady, expected to gain due to remittances and charity flows
  • Zambia’s copper output up 10.4 pct y/y in September
  • South African inflation meets forecasts as food prices fall
  • Arianespace launches Morocco’s second earth observation satellite
  • South Africa CPI rises to 5.1 pct y/y in October
  • South Africa’s Lewis H1 earnings gain on upbeat sales growth
  • Trump and land fears boost South Africa’s white right ‘state’
  • South Africa’s Sasol flags up to 29 pct higher H1 profit
  • South Africa’s Mr Price promotes corporate finance director to CFO

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

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