#Africa #Markets | 29 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks advance, dollar struggles on signs of more cautious Fed
  • MSCI Asia-Pacific index up 0.75 pct, Nikkei gains 0.9 pct
  • Dollar sags broadly following Powell’s comments
  • Short-term US treasury yield extends decline after Powell

Oil Markets

  • Oil prices climb, but oversupply concerns weigh; OPEC meeting in focus
  • Brent crude oil futures up 1 pct at $59.36 a barrel (0120GMT)
  • US WTI crude futures up 1.3 pct at $50.94 a barrel


  • Soybeans edge lower, ease from 2-wk high
  • Most active CBOT wheat futures unchanged at $5.11-1/2 per bushel (0211GMT)
  • Most active corn futures up 0.1 pct at $3.61 per bushel
  • Most active soy futures down 0.2 pct at $8.88-1/2 per bushel
  • Most activer rice futures up about 0.1 pct at $10.83 per hundredweight

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

  • South Africa’s state capture inquiry continues
  • South Africa producer inflation data for Oct-18 expected [fcst. 6.0% yy, prev. 6.2%]
  • South Africa PSCE data for Oct-18 expected [fcst. 6.2% yy, prev. 6.3%]
  • South Africa M3 data for Oct-18 expected [fcst. 7.0% yy, prev. 7.0%]
  • Zambia inflation data for Nov-18 due [fcst. 7.3% yy, prev. 8.3%]

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

  • White South African group to challenge Ramaphosa land reforms in court
  • Egypt to end dollar-guarantee mechanism for foreign investors
  • Kenyan MPs block drive for more women in politics
  • To stop ebola, Congo targets malaria in outbreak zone
  • World Bank sees Nigerian 2018 GDP growth at under 2 pct
  • US military says strikes kills three militants in Somalia
  • Russian bank expunges mention of $12 bln loan to poor African state
  • Africa Crude – Reduced offers for January cargoes fail to tempt buyers
  • US military says strikes kills 3 militants in Somalia
  • UK’s CDC to invest up to $4.5 bln in Africa over next 4 years
  • World Bank expects Nigeria 2018 GDP growth to be less than 2 pct – statement
  • Ethiopia takes Dubai as top feeder of air traffic to Africa
  • Zimbabwe drivers queue for hours as fuel pumps dry up again
  • Niger closes UK charity’s health centres, says they performed abortions
  • Deadly ranch invasion shows land-use conflicts in Kenya – exports
  • Nigeria opposition aims to outflank Buhari with regional gambit
  • Tanzania central bank suspends five banks from interbank FX market
  • South African central bank expects volatile rand in 2019
  • Kenya’s foreign exchange rate reflects true value – cenbank gov
  • Madagascar ex-presidents to compete in 2nd round vote, incumbent out
  • South African state pension fund raises stake in MTN to 23.6 pct
  • South Africa’s Eskom says asset sales can’t solve problems as flags big loss
  • Kenyan shilling under pressure from end month demand
  • Ugandan shilling little changed after central bank’s buying of excess liquidity
  • South Africa’s Eskom H1 profit slumps 89 pct
  • Zimbabwe on course to meet budget deficit targets – finmin
  • KPMG South Africa picks outsider as CEO after scandals
  • South African consumer confidence falls sharply – survey

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

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