#Africa #Markets | 18 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks advance on US-China trade relief
  • MSCI Asia-Pacific index up 0.7 pct, Nikkei hits 1-mth high
  • Hopes for thaw in US-China trade row lift equities
  • Dollar supported, US yields higher amid better risk appetite
  • Palladium hovers near record high

Oil Markets

  • Oil up on OPEC output cuts, hopes of easing US-China trade tensions
  • OPEC says its Dec output fell by 751k bpd to 31.58 mln bpd
  • Washington considers rolling back China import tariffs – WSJ
  • But record US production of 11.9 mln bpd undermines OPEC efforts
  • Brent up 0.9 pct at $61.72 per barrel (0339GMT)
  • US WTI up 1.1 pct at $52.62 per barrel

Precious metals

  • Palladium holds near record levels on supply woes; gold steady
  • Spot palladium up 0.3 pct at $1,400.50 per ounce (0116GMT)
  • Spot gold steady at $1,291.43 per ounce
  • US gold futures down 0.1 pct at $1,291.10 per ounce

Grains

  • Soybeans edge higher on US-China trade optimism
  • Most active CBOT wheat futures down 0.3 pct at $5.16 per bushel (0115GMT)
  • Most active corn futures down 0.4 pct at $3.78-1/2 per bushel
  • Most active soy futures down 0.2 pct at $9.06-1/4 per bushel
  • Most active rice futures unchanged at $10.50 per hundredweight

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

  • Nigeria’s Buhari campaigns in Kaduna today; all eyes on him in regard of whether he will show up for debate tomorrow
  • Nigeria’s Abubakar in US for events & meetings
  • Nigeria’s Abubakar campaign organisation to be inaugurated today

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

  • Sudan protesters, police clash as anti-Bashir unrest spreads
  • Sudan inflation quickens to 72.9 pct in Dec – state news agency
  • AU cites ‘serious doubts’, urges delay to final Congo election result
  • Death toll in militia clashes in Libya’s capital rises to 10
  • Morocco foils 89,000 illegal migration attempts in 2018 – interior ministry
  • Ethiopia allows almost 1 million refugees to leave camps and work
  • Mum on trial for FGM ‘used witchcraft’ to silence UK police
  • Trump cancels Pelosi trip to Belgium, Afghanistan and Egypt
  • Canadian found dead in Burkina Faso after kidnapping
  • Zimbabwe charges activist pastor with subversion and incitement
  • African growth too slow for expanding workforce – AfDB
  • Britain “deeply concerned” at Zimbabwe unrest; summons ambassador
  • Gunmen kill Ghanaian journalist who helped expose soccer graft
  • Boko Haram claims attack on northeast Nigerian town of Rann – video
  • Africa Crude – Nigerian Bonny and Qua Iboe offered at 10-mth highs
  • More women catch ebola in Congo in ‘unexpected’ twist of gender roles
  • South African rand falls after rate decision; stocks down
  • Nigeria’s Forte Oil seeks to sell power unit to top investor
  • South Africa’s central bank defends mandate, holds rate
  • Gabon president back in Morocco after short stay in Libreville
  • African bloc walks back calls for Congo election recount
  • Investec, UK Climate Investments commit 1 bln rand to Africa renewables
  • Big strike paralyses Tunisia, thousands protest over pay row
  • South Africa’s central bank leaves repo rate at 6.75 pct
  • Egypt renews detention of woman in BBC report over ‘false news’
  • Egypt reopens five ports after weather improves
  • Kenya’s Safaricom overdraft service exceeds expectations – CEO
  • Kenyan shilling firms against the dollar
  • Egypt resumes air freight service to US after 2015 halt
  • Zimbabwe’s inflation soars to 42 pct y/y in Dec
  • Ugandan shilling slightly weaker on pick-up in interbank demand
  • Zimbabwe doctors treat 68 for gunshot wounds, police arrests hundreds
  • South Africa’s Mr Price posts slow Q3 sales growth on lower clothes, Black Friday sales
  • South Africa’s Woolworths posted tepid 26-wk sales

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

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