#Africa #Markets | 12 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks run with Sino-US trade hopes; sterling hamstrung by politics
  • Trump says trade talks ongoing with China, could act on Huawei
  • Asia markets push higher, but have been disappointed before
  • Pound hits 20-mth low as British PM risks party challenge
  • Oil prices bounce after big draw in stockpiles

Oil Markets

  • Oil prices rise as OPEC-led supply cuts expected to stabilise markets
  • Brent crude oil futures up 1.2 pct at $60.89 per barrel (0212GMT)
  • US WTI crude futures up 1.2 pct at $52.25 per barrel

Precious metals

  • Gold holds firm on easing rate hike expectations
  • Spot gold up 0.1 pct at $1,244.40 per ounce (0115GMT)
  • US gold futures up 0.2 pct at $1,249.9 per ounce

Grains

  • US soybeans extend gains after Trump says China back in market
  • Most active CBOT wheat futures up 0.6 pct at $5.24 per bushel (0147GMT)
  • Most active corn futures up 0.1 pct at $3.85-1/4 per bushel
  • Most active soy futures up 0.4 pct at $9.18-1/2 per bushel
  • Most active rice futures unchanged at $10.65 per hundredweight

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

  • Jamhuri day in Kenya today; Kenyatta & Odinga to lead celebrations
  • South Africa inflation data for November due [fcst. 5.3% yy, prev. 5.1%]
  • South Africa retail sales data for November expected [fcst. 2.8% yy, prev. 0.7%]

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

  • Egyptian lawyer held for wearing yellow vest as sales restricted – activist
  • Nigerian opposition candidate absent from election accord ceremony
  • War, hunger and a housing boom: welcome to Africa’s most crowded city
  • Tanzania to sign deal this week for $3 bln power plant – president
  • France gives weapons to Central Africa, favours end to embargo
  • Africa Crude – More Angolan sold, Nigerian lingers
  • Ghana could cut interest rates by March – central bank gov
  • Anglo forecasts copper, diamonds and platinum to lift output
  • Zambia’s chamber of mines sees 21,000 job cuts due to higher taxes
  • Botswana’s Mowana copper mine suspends operations over working capital
  • Egypt’s El Sewedy Electric to borrow $500 mln from Afreximbank
  • Climate policies put world on track for 3.3C warming – study
  • South Africa’s manufacturing output jumps, boosting rand
  • Kenya struggles to give life to futuristic ‘Silicon Savannah’ city
  • South Africa’s October manufacturing output rises 3 pct
  • Kenyan shilling steady, remittance dollar flows meet importer demand
  • Liquid Telecom gets $180 mln from UK for pan-African fibre network
  • Ugandan shilling flat, dollar flows from charities, exporters meet demand
  • Somalia’s GDP growth seen expanding to 3.1 pct in 2018 – IMF

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

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