#Africa #Markets | 26 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Shares tick up on US holiday sales hopes, but oil rout checks enthusiasm
  • Asian shares up 0.5 pct, S&P 500 futures up 0.3 pct
  • Hopes of brisk US holiday sales lift shares
  • Oil steady for now but on course to worst month since Oct 2008
  • Anxiety over Sino-US “cold war” to curb risk appetite

Oil Markets

  • Oil prices edge up after nearly 8 pct ‘Black Friday’ plunge
  • Brent remains below $60 per bbl after almost 8-pct drop on Fri
  • Oil plunge came amid broad market weakness
  • Morgan Stanley expects weakness to last into 2019
  • Brent crude oil futures up 0.7 pct at $59.20 per barrel (0049GMT)
  • US WTI crude futures up 0.3 pct at $50.58 per barrel

Precious metals

  • Gold prices flat amid stronger dollar, investors look to G20 summit
  • Spot gold little changed at $1,222.36 per ounce (0114GMT)
  • US gold futures flat at $1,223.3 per ounce

Grains

  • Wheat futures jump nearly 1 pct on US export deal
  • Most active CBOT wheat futures up 0.8 pct at $5.11-1/4 per bushel (0237GMT)
  • Most active corn futures unchanged at $3.59 per bushel
  • Most active soy futures unchanged at $8.81 per bushel
  • Most active rice futures unchanged at $10.76 per bushel

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

  • Blue economy conference in Mombasa, Kenya, starts today; 26-28 Nov
  • Ghana to announce interest rate decision [fcst. 17.0%, prev. 17.0%]
  • South Africa’s state capture inquiry continues this week; Mantashe to testify on Tuesday

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

  • Car bomb strikes near religious centre in Somalia – Al Shabaab
  • Airtel Africa appoints global banks for IPO
  • Egypt and Sudan set up joint patrols against cross-border threats
  • Uganda’s Museveni says capsized cruise boat was overloaded, 29 dead
  • Uganda boat which sank was carrying more than twice its capacity
  • Chad president to make first Israel visit on Sunday – Israeli PM’s office
  • Death toll from Uganda boat cruise accident jumps to 29
  • Islamic State claims attack in southern Libya that killed at least nine
  • Nigeria’s Buhari breaks silence on soldier deaths in Islamist attack
  • Four Finns among five killed in private plane crash in Zimbabwe
  • US says receives credible terrorist threat against facilities in Congo
  • Zimbabwe’s Mugabe in Singapore for medical treatment, unable to walk
  • Congo approves clinicial trials for ebola treatments
  • Mali says it confirms death of veteran jihadist leader Koufa
  • Tunisia’s powerful union calls new national strike to press wage demands
  • Tunisian PM seeks realistic pay deal with union
  • Armed men kidnap 15 girls in southeastern Niger – mayor
  • Suspected Islamic State gunmen kill nine in southern Libya – resident
  • Ahead of Nigeria’s election, opposition weaponises soldier deaths
  • S&P keeps South Africa in ‘junk’ status, citing anaemic growth
  • France says puts 30 jihadists “out of action” in Mali
  • New Barrick CEO eyes miners’ alliance to fix Tanzania tax row
  • South African state pension fund says CEO resigns
  • South Africa’s KPMG reports ex-partner to police over bank scandal – sources
  • Congo’s Tshisekedi and Kamerhe form presidential pact
  • Portugal promises to help Angola recover “unexplained assets”
  • Africa Crude – Key Nigerian programmes in Jan still absent, OSPs emerge
  • Ugandan women fight their way out of the slums, dream of boxing glory
  • France’s JCDecaux signals Nigerian ambition with traffic service
  • Egypt on track to achieve its financial targets – finmin
  • Kenyan woman jailed for six years for circumcising twin daughters
  • Tunisian activist call for protests over Saudi crown prince visit
  • South Africa to invest $1 bln in South Sudan’s oil sector
  • UK makes biggest investment to end FGM in Africa
  • French commission to urge return of looted African art
  • South Africa’s Transnet halts Durban port berths project over tender probe
  • Kenya Power gets tough on late bill payers after profit plunges
  • Africa missing out on boom in Chinese tourism
  • CAR war crimes suspect Yekatom protests transfer to Hague
  • Bank of Kigali’s $67.5 mln cash call gets 108 pct subscription rate
  • Uganda shilling weakens on strong dollar demand from commercial banks
  • Ethiopian Airlines steps up hunt for African connections
  • Mauritius lowers sugar output forecast again
  • Telkom Kenya gets $40 mln loan from European Investment Bank
  • Islamic State claims attacks in West Africa caused 118 casaulties
  • South Africa’s Life Healthcare FY earnings up 40.6 pct
  • South Africa’s PPC half-year earnings rise on rest of Africa growth
  • In Tanzania, a bulldozer president tests donors
  • Kenya Power’s FY pretax profit dives 60 pct

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

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