#Africa #Markets | 4 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares ease as doubts emerge over Sino-US trade war truce
  • MSCI Asia-pacific ex-Japan index down 0.2 pct
  • Japan’s Nikkei down 0.3 pct
  • Spot gold flat at $1,231.11 per ounce

Oil Markets

  • Oil prices extend gains on expected OPEC-led production cuts
  • OPEC, Russia need to cut 1.3 mln bpd to balance market – Goldman
  • Canada’s mandated supply cut also supports prices
  • Soaring US output is OPEC’s biggest headache
  • Texas no produces more oil than Iraq – Barclays
  • Brent crude oil futures up 0.7 pct at $62.09 per barrel (0137GMT)
  • US WTI crude futures up 0.8 pct at $53.35 per barrel

Grains

  • Soybean prices fall from highest in nearly 6 mths on doubts over trade war
  • Most active CBOT wheat futures down 0.3 pct at $5.19-1/2 per bushel (0114GMT)
  • Most active corn futures down 0.3 pct at $3.80-3/4 per bushel
  • Most active soy futures down 0.2 pct at $9.04 per bushel
  • Most active rice futures up 0.6 pct at $10.91 per hundredweight

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

  • UN climate change conference in Poland; Nigeria’s Buhari attending
  • Nigeria’s Buhari to be in focus as deadline for signing amended electoral bill looms
  • South Africa Q3 2018 GDP data due [fcst. 0.4% qq saa, prev. -0.7%]
  • Botswana interest rate decision expected [fcst. 5.0%, prev. 5.0%]
  • South Africa’s state capture inquiry continues

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

  • US aid group to help develop Islamic microfinance in Ethiopia
  • US to reopen Congo embassy after “terrorist threat”
  • Sudan allows local private sector firms to export gold
  • Zimbabwe doctors strike again for better pay as economy struggles
  • Egyptian court orders release of prominent blogger – judicial source
  • Congo declares cobalt “strategic”, nearly tripling royalty rate
  • Bouteflika unable to receive Saudi crown prince due to flu – presidency
  • Uganda holds special court sessions on sex crimes to cut backlog
  • Africa Crude – Tenders keep sellers at bay, Nigerian market swamped
  • Congo state miner in production-sharing deal with Chinese firm
  • Deadly ranch invasion shows land-use conflicts in Kenya – experts
  • Uber’s Middle East rival Careem launches bus-booking service in Egypt
  • Soccer-Sierra Leone’s disqualification from Nations Cup boosts Kenya, Ghana
  • Millions flock to free tests as Egypt seeks to eradicate hepatitis C
  • Armed with coffee, Uganda’s women, youth look to secure land tenure
  • South Africa faces more power cuts, raising Ramaphosa reform risk
  • African migrants turn to deadly ocean route as options narrow
  • Nigeria’s Buhari denies dying and being replaced by lookalike
  • South Africa court paves way for class action against Tiger Brands
  • Ugandan shilling steady amid muted banks and importer demand
  • South Africa’s Absa PMI rises for the first time in 3 months
  • Kenyan shilling under pressure amid demand from importers ahead of holiday season
  • Egypt’s EFG Hermes advising on four M&A deals expected in H1 2019

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

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