#Africa #Markets | 9 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares hit 3-1/2-wk high on US-China trade optimism, oil climbs
  • Trump tweets that China trade talks are going well
  • Hopes of a US-China trade deal underpin risk assets
  • Markets show little reaction to Trump’s address on border wall
  • Oil prices also extend rally on trade deal hopes

Oil Markets

  • Oil prices surge on hopes of successful US-China trade talks
  • Brent up 0.7 pct at $59.14 per barrel (0131GMT)
  • US WTI crude futures up 1 pct at $50.29 per barrel

Precious metals

  • Gold steady as trade hopes offset Fed stance; palladium at record high
  • Palladium hits record high
  • Markets await FOMC minutes later in session
  • Gold may be seeing a top, technically – analyst
  • Spot gold down 0.2 pct at $1,282.97 per ounce (0404GMT)
  • US gold futures down 0.1 pct at $1,284.5 per ounce

Grains

  • Wheat firms 1 pct to linger near 20-day high
  • Most active CBOT wheat futures up 1 pct at $5.23 per bushel (0143GMT)
  • Most active corn futures up 0.5 pct at $3.81-3/4 per bushel
  • Most active soy futures up 0.4 pct at $9.22-1/2 per bushel
  • Most active rice futures down 0.5 pct at $10.69 per hundredweight

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

  • Top officials of South Africa’s ruling ANC spread across country celebrating party’s 107th birthday
  • South Africa ABSA manufacturing PMI data for December due [prev. 49.5]
  • South Africa SACCI business confidence data for December expected [prev. 96.1]

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

  • Sudan’s Bashir scoffs at opposition as more demonstrations take place
  • Soccer – Salah voted African footballer of the year
  • Sudan security forces disperse hundreds in al-Qadarif
  • Madagascar court declares Rajoelina president, rejects fraud complaint
  • Congo opposition campaign says talking with Kabila camp on transition
  • Uganda aims to pick bidder to build, operate highway by end-2019
  • Zambia president heads for “urgent” Congo election meeting in South Africa
  • Zimbabwe teachers divided on strike for US dollar pay
  • Africa Crude – Nigerian crude diffs supported by tenders
  • Kenya says no schoolgirls being screened for FGM after backlash
  • Uganda govt says not concerned by heavy debt load, to borrow cautiously
  • Congo election observer saw “major” irregularities in vote count
  • Somali region once riddled with pirates sees powerful power transfer
  • Egypt limits Gaza passage after Palestinian Authority quits border crossing
  • Ivory Coast SIR oil refinery secures 577 mln euro loan
  • Kenya’s NSE halts equities trading due to technical hitch
  • Import costs choke output at Libya’s only truck factory
  • Uganda shilling loses ground as demand from manufacturers weighs
  • Tanzania names latest mining minister in ongoing industry clash
  • Three killed, hundreds injured in South Africa train collision
  • Soccer – Egypt to host 2019 African Nations Cup
  • Former Mozambican finmin challenges detention in South Africa
  • Congo miner SMB leaves ITSCI responsible-sourcing scheme over cost
  • Private equity firms AfricInvest, Catalyst invest in Kenya’s Prime Bank
  • US military says it kills 6 militants in an air strike in Somalia
  • South Africa’s net reserves rise to $43.09 bln in December

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

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