#Africa #Markets | 24 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian markets a reluctant spectator to US political theatre
  • US politics in focus as Trump forces Mattis out early
  • Treasury Sec Mnuchin calls meeting of “plunge protection” team
  • Market moves modest with Tokyo on holiday, S&P futures edge up

Oil Markets

  • Oil eases on oversupply concerns ahead of holiday
  • Brent, WTI hover near lowest levels since Q3 2017
  • OPEC+ to meet again if cuts not enough – UAE minister
  • US oil drillers add 10 rigs last week – Baker Hughes
  • Brent crude futures down 0.5 pct at $53.55 a barrel (0106GMT)
  • US WTI crude futures down 0.1 pct at $45.51 a barrel

Precious metals

  • Gold rises as investors shy away from risk amid US political uncertainty
  • Spot gold up 0.4 pct at $1,261.47 per ounce (0103GMT)
  • US gold futures up 0.5 pct at $1,264.1 per ounce

Grains

  • Wheat ticks up after deep losses, trades near 3-wk low
  • Most active CBOT wheat futures up 0.7 pct at $5.17-1/2 per bushel (0123GMT)
  • Most active corn futures down 0.3 pct at $3.77-1/2 per bushel
  • Most active soy futures down 0.3 pct at $8.82-1/2 per bushel
  • Most active rice futures up 1.4 pct at $10.78 per hundredweight

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

  • Markets to open for some hours ahead of festivities

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

  • Sudanese police fire tear gas at protesting soccer fans
  • Moroccan suspects in killing of Scandinavian women were acting alone, official says
  • South Africa’s Transnet partially reopens coal export line after derailment
  • South African power utility Eskom to cut 10 executive jobs
  • Egypt appoints new military intelligence chief – security sources
  • Morocco vigils honour Scandinavian women killed in Atlas Mountains
  • Libya complains of arms cargo from Turkey, joint investigation launched
  • Sudanese opposition leaders detained as protests continue
  • South African jazz artist plays guitar during brain surgery
  • At least 13 killed in Mogadishu car bomb claimed by al Shabaab
  • At least one dead as price protests enter 3rd day in Sudan
  • Nigeria police arrest suspected mastermind of 2015 Abuja bombings
  • 7 killed in Congo cargo plane crash
  • 9 more arrested in Morocco over murder of Scandinavian tourists
  • AMCU strike at Sibanye-Stillwater legal – South African court
  • Swiss ruling paves way to share documents in Nigeria oil graft case
  • Congo opposition: we will not tolerate further delay to vote
  • In Egypt, weddings get costlier as economic hardships deepen
  • Sudanese police fire tear gas at dozens of protesters in Omdurman, Atbara and North Kordofan – witnesses
  • BP greenlights Africa’s deepest offshore LNG project
  • Congo’s Gomair says cargo plane crashed, no word yet on casaulties
  • South Africa’s Transnet hopes to re-open one closed coal export line on Saturday
  • South Africa coal train derails, export line shut – Transnet
  • First Quantum Minerals plans 2,500 layoffs in Zambia over tax hikes
  • Botswana’s economy slows in 3rd quarter of 2018
  • Morocco inflation rises to 1.3 pct y/y in Nov
  • In warming Mali, weather forecasts help cool flaring tempers
  • Solar cures energy ills at Zimbabwe’s power-short clinics
  • Congo election shows flaws in Trump’s Africa strategy
  • Sudan price protests subverted by “infiltrators” – spokesman
  • Sudan protests handled ‘without repression or opposition’ – govt spokesman
  • Libyan state oil firm keeps El Sharara oilfield closed, rejects paying off protesters
  • Morocco says suspects in Scandinavian tourists’ murder are linked to Islamic State
  • 8 people dead in Sudan protests – officials
  • Somalia lawmakers drop motion to impeach president – speaker
  • State of emergency declared in 2nd Sudanese city amid protests
  • Congo postpones Sunday’s presidential vote by a week to Dec 30
  • Libyan coast guard says it has intercepted 15,000 migrants in 2018
  • South Africa appoints new CEO for troubled state arms firm Denel
  • Libya is restarting oil production in El Sharara – sources
  • Uganda gives Tullow conditional approval to farm out stakes to Total, CNOOC
  • Sierra Leone fruit bats infected with ebola-like Marburg virus
  • Defying prejudice, Egyptian woman racks up global bodybuilding awards
  • Egyptian court acquits 40 NGO workers whose case strained ties with US
  • As ebola threatens mega-cities, vaccine stockpile needs grow
  • Sudan signs mining, oil refinery agreements with Russian companies – oil ministry
  • South Africa’s Shoprite faces hefty fine for anti-competitve behaviour
  • German court partilly overturns war crimes verdict for Rwandan
  • Sonangol secures $1 bln loan facility to fund operations, investment
  • Congo commission says election delay due to fire, ethnic violence – candidate
  • Most African currencies seen firming in week ahead
  • Zambia pricing itself out of global mining with tax hikes – industry body
  • Both candidates in Madagascar presidential runoff claim victory

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

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