#Africa #Markets | 23 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • China leads Asian shares lower on growth, trade worries
  • MSCI Asia ex-Japan drops 0.2 pct
  • Pound retains gains after draft deal on future EU-UK relations
  • Crude prices continue plunge on oversupply concerns
  • Japan markets closed for a holiday

Oil Markets

  • Oil falls on supply glut fears, but expected OPEC cuts provide some support
  • World oil supply expected to exceed demand in 2019
  • But OPEC is expected to cut supply in 2019
  • Brent crude oil futures down 1.3 pct at $61.82 per barrel (0333GMT)
  • US WTI crude futures down 2.5 pct at $53.29 per barrel (0333GMT)

Precious metals

  • Gold holds steady on Fed interest rate hike uncertainty
  • Spot gold steady at $1,226.38 per ounce (0104GMT)
  • US gold futures little changed at $1,226.9 per ounce

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

  • S&P Global Ratings to announce rating decision on South Africa today
  • South Africa’s state capture inquiry continues, to start at 2pm SA time
  • 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]

  • Kenya Power’s FY pretax profit dives 60 pct
  • UNAIDS puts Nigeria country director on leave over sexual harassment allegation
  • Airbnb homes in on African growth story
  • Militants kill around 100 Nigerian soldiers in attack on army base – sources
  • Zimbabwe plans refinery for the country’s platinum mines – budget document
  • EU wheat at 1-wk high as Egypt tender boosts export sentiment
  • Congo authorities eye victory as candidates launch election campaigns
  • Africa Crude – Nigerian export programmes trickle out; Angolan supply to drop
  • Zimbabwe’s budget deficit balloons as pre-election spending bites
  • Egypt reveals it is holding daughter of Muslim Brotherhood leader, five others
  • South Africa raises rates for first time in nearly 3 years in tight call
  • Absa planting seeds in London
  • Libyan couple risks ire of hardliners to promote Islamic calligraphy
  • South Africa’s Capitec Bank wins race to buy Mercantile in $230 mln deal
  • Zimbabwe’s 2018 budget deficit seen at 11.7 pct of GDP – finmin
  • Congo’s 9-mth copper output up 8.7 pct, cobalt nearly doubles
  • Nigeria central bank set to reach deal in $8.1 bln MTN dispute
  • Nigera central bank holds benchmark lending rate at 14 pct
  • South Africa raises lending rate to 6.75 pct in tight call
  • 650k Tunisians strike for pay rise as economy struggles
  • South Africa’s Tiger Brands to spin off 42 pct stake in Oceana
  • Eight killed in attack on Foraco well site in Niger
  • BP to invest $1 bln in South Africa, including refinery upgrade
  • Equatorial Guinea punishes Subsea 7 for not hiring more locals
  • Ethiopia chooses dissident to head vote board as PM presses reforms
  • US military says strikes killed six militants in Somalia
  • Sudan inflation eases slightly in Oct to 68.44 pct – stats agency
  • Ugandan shilling edges up on offshore investor flows
  • Kenyan shilling inches up as liquidity tightens
  • Sluth Africa’s Mr Price H1 earnings rise 12 pct, shares up
  • Sibanye-Stillwater suspends night shift work after employee killed during strike
  • Zimbabwe miner RioZim demands $92 mln from central bank in lawsuit – document
  • IMF approves disbursement of $15.4 mln to Malawi

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

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