#Africa #Markets | 11 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares near 3-week lows, sterling struggles on Brexit woes
  • Pound near 20-mth trough on Brexit related uncertainty
  • Disappointing economic data, Sino-US trade war weigh
  • Chinese shares bounce on trade optimism, sentiment cautious
  • Focus on Indian markets after RBI governor resigns

Oil Markets

  • Oil prices rise on Libyan export interruption, but markets remain weak
  • Libya’s National Oil Company declares force majeure
  • But sentiment on prices remains weak amid stock market slump
  • Speculators cut their long crude positions to 2016 lows
  • Kuwait, Iran lower price for January oil supplies to Asia
  • Brent crude oil futures up 0.3 pct at $60.19 per barrel (0336GMT)
  • US WTI crude futures up 0.3 pct at $51.16 per barrel

Grains

  • Soybeans extend losses to hit 5-day low
  • Most active CBOT wheat futures down 0.6 pct at $5.22 per bushel (0119GMT)
  • Most active corn futures down 0.3 pct at $3.83 per bushel
  • Most active soy futures down 0.3 pct at $9.06-3/4 per bushel
  • Most active rice futures unchanged at $10.67 per hundredweight

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

  • South Africa mining production data for Oct 2018 due [fcst. -1.7% yy, prev. -1.8%]
  • South Africa manufacturing production data for Oct 2018 expected [fcst. -0.1% yy, prev. 0.1%]

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

  • Kenya struggles to give life to futuristic ‘Silicon Savannah’ city
  • UK to invest 100 mln pounds in sub-Saharan Africa renewables fund
  • Ex-head of Egypt’s Customs Authority faces graft charges – prosecution office
  • Libya’s NOC won’t negotiate with group that closed Sharara oilfield – chairman
  • Africa Crude – Unsold Angolan cargoes whittled down, Nigerian still struggling for buyers
  • Egypt sells $1.1 bln in 1-yr t-bills – central bank
  • Nobel Peace Prize laureate Mukwege worried Congo vote could lead to war
  • UK’s Experian to buy Africa’s Compuscan
  • Egypt’s urban inflation drops back within target range
  • UN members adopt global migration pact rejected by US and others
  • Sudan pound slides to widest over official rate since devaluation
  • Ivory Coast aims to double gold output by 2025
  • South Sudan health workers to get ebola shots as Congo outbreak grows
  • Egypt’s core inflation decreases to 7.94 pct y/y in Nov – c.bank
  • EU renews Congo sanctions ahead of presidential election
  • South Africa’s MTN says still in talks with Nigerian authorities
  • Congo’s Gecamines to boost stake in Boss Mining JV to 49 pct
  • Kenyan pipeline, health insurance fund officials charged over graft
  • South Africa needs to bail out Eskom, says former Eskom adviser Rothschild
  • UN members adopt global migration pact – Moroccan foreign minister
  • Nigeria’s economy grew 1.81 pct in Q3, driven by non-oil sector, stats office says
  • KPMG South Africa appeals for second chance after corruption scandals
  • Kenya’s Consolidated Bank says seeking investor to inject 3.5 bln shillings
  • Heavy rains to slash Nigeria’s 2017/18 cocoa output by 10 pct

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

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