#Africa #Markets | 20 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks slump as Fed’s outlook on rates disappoints
  • S&P 500 hits 15-mth low, Fed seen less dovish than hoped
  • 10-yr US treasury yields at lowest level since April
  • Topix, KOSPI fall into bear market to join Chinese benchmarks
  • European stocks seen opening down more than 1 pct

Oil Markets

  • Oil prices resume fall, shed most of their gains from last session
  • Worries over weakening demand, oversupply drag on oil prices
  • Traders starting to wind up work for the year – analysts
  • Drop in US crude inventories offers some support to markets
  • Brent down 1.2 pct at $56.58 per barrel (0129GMT)
  • US WTI down 1.6 pct at $47.39 per barrel

Precious metals

  • Gold steadies, Fed signals ‘some’ rate hikes for 2019
  • Spot gold up 0.1 pct at $1,244.41 per ounce (0141GMT)
  • US gold futures down 0.7 pct at $1,247.4 per ounce

Grains

  • Soybeans fall to 2-wk low as Chinese demand disappoints
  • Most active CBOT wheat futures up 0.2 pct at $5.23-1/2 per bushel (0203GMT)
  • Most active corn futures unchanged at $3.81-3/4 per bushel
  • Most active soy futures down 0.2 pct at $8.98 per bushel
  • Most active rice futures down 0.6 pct at $10.44 per hundredweight

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

  • Togo parliamentary elections today

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

  • South African rand gains as Fed signals fewer hikes for 2019
  • In presidential election, Congo seeks first democratic transfer of power
  • Morocco links suspect in Scandinavian women’s killing to militant group
  • El Sharara oilfield to reopen, Libyan govt says
  • State of emergency declared in Sudanese city after party HQ torched
  • Clashes erupt after Congo vote campaigning halted in Kinshasa
  • Opposition leader Sadiq al-Mahdi greeted by thousands upon return to Sudan
  • South Sudan forces assault peace deal monitors – group
  • Nigeria leader presents 8.83 trln naira 2019 budget to raucous lawmakers
  • Lectured by Sisi on body weight, Egyptians respond with jokes
  • Tunisia busts cell planning attacks on security forces
  • Lonmin’s biggest mining union tries to block Sibanye deal
  • South Africa issues arrest warrant for Zimbabwe’s Grace Mugabe
  • IMF’s Lagarde says South Africa has not requested financial support
  • Tunisia teachers march for better wages and conditions
  • Sudan 2019 budget includes 66 bln Sudan pounds in subsidies – PM
  • Mogadishu-backed candidate wins test-case regional Somali election
  • Girl, 10, dies after genital cutting in Sierra Leone
  • Kinshasa governor orders halt to campaigning for Congo presidential vote
  • Ivory Coast to add 643 MW of power to grid by 2021
  • Nigeria unemployment rises to 23.1 pct in Q3 from 18.1 pct year earlier – stats office
  • Nigeria land feud victim bears scars of attack
  • Nomads and farmers in fight for Nigeria’s heartland
  • Dozens killed in northwestern Congo ethnic clashes
  • Ugandan shilling a touch firmer on interbank selling
  • Kenyan shilling strengthens amid tight money market liquidity
  • 2 ex-presidents compete in Madagascar run-off vote

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

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