#Africa #Markets | 14 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares falter from 1-1/2-mth highs, markets wary about China data
  • MSCI ex-Japan skids 0.7 pct, Tokyo on public holiday
  • Chinese shares in red, E-Minis stumbles too
  • Investors expect volatility to increase this week

Oil Markets

  • Oil prices edge up on OPEC-led supply cuts, lower US drilling activity
  • Brent crude futures up 0.5 pct at $60.75 per barrel (0040GMT)
  • US WTI futures up 0.4 pct at $51.81 a barrel

Precious metals

  • Gold prices edge higher on expectations of Fed pause
  • Spot gold up 0.2 pct at $1,289.50 per ounce (0040GMT)
  • US gold futures steady at $1,289.90 per ounce

Grains

  • Wheat extends gains into second straight session
  • Most active CBOT wheat futures up 0.1 pct at $5.20-1/4 per bushel (0136GMT)
  • Most active corn futures up 0.1 pct at $3.78-1/2 per bushel
  • Most active soy futures down 0.1 pct at $9.09-1/4 per bushel
  • Most active rice futures down 0.2 pct at $10.75 per hundredweight

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

  • Nigeria’s chief justice to be arraigned for incomplete assets declaration today [Largely considered ill-timed & political since it is coming about a month to crucial polls; a negative]

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

  • Morocco’s Amazigh want their new year to become official holiday
  • Congo should recount presidential election vote – Southern African bloc
  • Security forces clash with demonstrators in three Sudanese cities
  • Egypt shuts six ports due to bad weather
  • 150 pct price rise fails to fill Zimbabwe’s fuel pumps
  • Egypt settles $39 mln dispute with Mercedes-Benz importer – ministry
  • Egypt plans $2 billion worth of Samurai bonds – govt sources
  • Egypt to issue foreign bonds worth $3 bln – $7 bln – finmin
  • Southern African bloc calls for recount of Congo’s contested election
  • Congo should consider unity govt – Southern African bloc
  • US medic declared ebola-free, leaves Nebraska quarantine
  • Zimbabwe plans new currency as dollar shortage bites – finmin
  • Nigeria’s top judge to face trial on asset declaration charges
  • Sudan protests death toll rises to 24 – fact-finding committee
  • South Africa’s ANC says central bank should broaden economic focus
  • Congo ruling coalition wins legislative majority, constraining president-elect
  • South Africa’s ANC does not want to tweak central bank mandate – top official
  • South Africa’s ANC says job creation, growth should influence monetary policy
  • Congo forces surround presidential runner-up’s residence
  • UAE energy minister says average oil price in 2018 was $70 a barrel
  • Gabon’s Bongo names new prime minister after thwarted coup attempt
  • Zimbabwe plans new currency as dollar shortage bites – finmin
  • Africa currency bloc members aim to issue $4.82 bln in debt in 2019
  • Explosion sparks fire at Aden refinery, cause unknown
  • EU wheat rebounds from 1-wk low as export hopes lift Chicago
  • Congo election runner-up to press fraud dispute in court
  • Burkina Faso extends state of emergency in north by 6 months after attack
  • Security forces fire tear gas as more protests hit Sudanese cities
  • Africa Crude – Sonangol sells Dalia, Nigerian supported
  • Fund battling AIDS, TB and malaria seeks $14 bln to invigorate fight
  • Losing Congo presidential candidate’s campaign says he won in landslide
  • India’s Bharti Airtel to give Tanzania bigger stake in local telecoms firm
  • Ivory Coast cocoa bean quality hit by dry weather, financing woes
  • SADC bloc calls for calm in DRC amid election outcome dispute
  • Stakeholder denies that Togo’s Ecobank faces Nigerian investigation
  • Airtel Tanzania gives up part of its stake to govt – president’s office
  • Ugandan shilling strengthens, drawing support from pending taxes
  • South Africa’s Sibanye-Stillwater extends debt covenants
  • Uganda aims to impose penalties on distributor for power outages
  • South African assets firm on Fed chief’s “patient” comments
  • Kenya 2019/20 budget deficit forecast to fall, overall spending to rise – finmin
  • South Africa’s SA Express airline hopes to break even by FY-end – spokesman

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

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