#Africa #Markets | 7 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares ride relief rally, Sino-US trade a hurdle
  • Nikkei off to a strong start after Wall St rally
  • Fed stresses patience on policy, market leans toward rate cut
  • Safe-haven yen eases back, dollar otherwise lower
  • Investors eye Sino-US trade talks in Beijing

Oil Markets

  • Oil rises on trade talks and supply cuts, but economic slowdown looms
  • Record US output weighs on crude
  • Brent up 1.2 pct at $57.77 per barrel (0227GMT)
  • US WTI crude futures up 1.4 pct at $48.65

Precious metals

  • Gold prices inch down as Fed stance revises risk appetite
  • Spot gold down 0.1 pct at $1,284.05 per ounce (0053GMT)
  • US gold futures down 0.1 pct at $1,285.10 per ounce

Grains

  • Soybeans hit 3-wk high as US, China meet for trade talks
  • Most active CBOT wheat futures up 0.1 pct at $5.17-1/2 per bushel (0133GMT)
  • Most active corn futures down 0.1 pct at $3.82-3/4 per bushel
  • Most active soy futures up 0.2 pct at $9.23-3/4 per bushel
  • Most active rice futures unchanged at $10.48 per hundredweight

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

  • Guinea to take a second parliamentary vote today on whether to legalise polygamy; after making it an option in first vote
  • Nigerian labour unions to meet with authorities again today on minimum wage dispute ahead of potential strike action on Tuesday
  • Nigeria’s Buhari to inaugurate campaign organisation today
  • South Africa’s SACCI business confidence data for December expected [prev. 96.1]
  • Top officials of South Africa’s ruling ANC to visit various regions today for grassroot mobilisation activities

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

  • Egypt’s Sisi acknowledges close coordination with Israel in Sinai
  • Nigerian military raids paper after Boko Haram article
  • Libya’s oil revenue rose to $24.4 bln in 2018 – NOC
  • Palestinian Authority pulls employees from Egypt-Gaza crossing
  • Egypt’s Sisi opens mega-mosque and Middle East’s largest cathedral in new capital
  • Sudan security forces arrest Khartoum University lecturers – professors
  • Nigerian militant group claims ‘warning’ strike on Conoil facility
  • Egypt sells $854 mln in 1-yr dollar t-bills – cbank
  • Egypt explosives expert killed defusing bomb near church in Cairo – state TV
  • Congo election results delayed past Sunday deadline due to slow arrival of vote tallies
  • UN divided over how to react to Congo’s election problems
  • Zambia Vedanta unit halts operations at underground mine on tax concerns
  • Nigeria’s Buhari says electoral commissioner is related by marriage
  • Congo’s electoral commission slams Catholic Church over vote comment
  • Fearing Congo violence, US deploys small military force to Gabon
  • Tests show suspected Swedish ebola patient not infected
  • Tunisia’s 2018 inflation rises to 7.5 pct
  • Libya authorities seeking 37 suspects over attacks on oil, military facilities
  • School girls in Kenya undergo compulsory tests for pregnancy, FGM
  • Dozens protest near Khartoum, organisers say leader detained
  • Angola central bank withdraws licenses of 2 small lenders
  • UN chief regrets Somalia envoy expulsion, will send replacement
  • Dozens killed in ethnic violence in Burkina Faso
  • Ex-Credit Suisse bankers arrested on US charges over Mozambique loans
  • Africa Crude – Angolan cargoes trade, some offers lowered
  • Congo’s internet shutdown after election could cause violent backlash – UN
  • Zimbabwe strike not called off – doctor’s representative
  • Zimbabwe lays off more than 3,000 civil servants
  • Congo slashes cobalt output estimate for Jan-Sept 2018
  • Zambia says audit shows mining firms in arrears to govt
  • Sudan unrest disrupts Bashir’s push for vital financial support
  • Decline in South Africa’s private sector eases, fanning recovery hopes – PMI
  • Kenyan shilling steady, draws support from remittances
  • Uganda growth seen climbing to 7 pct in 3-5 years – cbank
  • Solar-pumped water slakes rural Kenya’s thirst for development

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

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