#Africa #Markets | 5 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks drop as falling US yields, trade worries hit mood
  • MSCI Asia-Pacific index down 1.35 pct, Nikkei drops 0.8 pct
  • Asia hit as Wall St tumbles on trade woes, growth concerns
  • Dollar struggles amid declining US treasury yields

Oil Markets

  • Oil prices skid with global stock markets; US supply swells
  • US crude oil inventories rise further in emerging glut – API
  • Brent crude oil futures down 2 pct at $60.87 per barrel (0418GMT)
  • US WTI crude futures down 1.8 pct at $52.31

Precious metals

  • Gold prices steady as dollar edges higher
  • Spot gold at $1,236.85 per ounce (0121GMT); lower than yesterday’s peak
  • US gold futures down 0.4 pct at $1,241.4 per ounce


  • Soybeans fall for first time in four sessions
  • Most active CBOT wheat futures down 0.3 pct at $5.21 per bushel (0124GMT)
  • Most active corn futures down 0.5 pct at $3.82-3/4 per bushel
  • Most active soy futures down 0.1 pct at $9.11 per bushel
  • Most active rice futures down 0.2 pct at $10.96 per hundredweight

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

  • Namibia central bank to decide interest rates [fcst. 6.75%, prev. 6.75%]
  • OPEC ministers to meet in Vienna today

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

  • Libyans protest against US air strike in southern Libya
  • Nigeria central bank sells $210 mln on FX market after naira eases
  • Death sentence of raped teen in Sudan named world’s worst case for women’s rights
  • Sudan lawmakers back amendment to let Bashir stand again
  • Africa Crude – India, Indonesia seek crude; Nigerian market struggles with surplus
  • Economic reforms offer scant relief in heart of Libya’s capital
  • Kenya hires foreign attorney to prosecute high-profile graft cases
  • Ghana rubber tapper shows dilemma of child labour
  • 15 migrants die in boat off Libya, Egyptian survivor says
  • Uber launches bus-booking service in Egyptian capital
  • South African parliament endorses report on disputed land reform
  • Kenya to roll over $760 mln syndicated loan, cut budget deficit
  • South Africa’s Ramaphosa names Botohi new chief prosecutor
  • Egypt foreign reserves rise to $44.513 bln at end-November – central bank
  • Italy investigates 5 Egyptian suspects over disappearance of student – source
  • South Africa emerges from recession as farming, manufacturing jump
  • Oman’s Raysut Cement eyes acquiring Kenya’s ARM Cement – statement
  • Uganda shilling inches down as banks buy dollars
  • South Africa’s economy out of recession as GDP expands 2.2 pct in Q3
  • EM currencies gain against weak dollar, shares steady
  • South Africa’s gross spending up 2.3 pct in Q3
  • Nigeria court adjourns MTN and central bank case amid settlement talks
  • Kenya Treasury sees 2019/20 budget deficit at 4.7 pct of GDP
  • Digital newcomers out to disrupt South African banking

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

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