#Africa #Markets | 23 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks pause amid worries over growth and trade
  • FT report on US-China talks rekindle trade worries
  • Data from US, Japan and Canada miss forecasts
  • BOJ keeps ultra loose monetary policy, cuts inflation forecast

Oil Markets

  • Oil steady on hopes Chinese fiscal stimulus will stem economic slowdown
  • Brent crude futures virtually unchanged at $61.49 per barrel (0314GMT)
  • US WTI crude futures down 3 cents at $52.98 per barrel

Precious metals

  • Gold steady on global growth, Sino-US trade worries
  • Spot gold little changed at $1,284.19 per ounce (0112GMT)
  • US gold futures steady at $1,283.40 per ounce

Grains

  • Soybean prices rise on US-China trade hopes
  • Most active CBOT wheat futures up 0.3 pct at $5.23 per bushel (0209GMT)
  • Most active corn futures up 0.4 pct at $3.80-1/2 per bushel
  • Most active soy futures up 0.5 pct at $9.14 per bushel
  • Most active rice futures up 0.2 pct at $10.68 per hundredweight

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

  • Ghana central bank 3-day MPC meeting starts; decision announced on 28 Jan
  • South Africa state capture, PIC & NPA inquiries continue
  • South Africa inflation data for December due [fcst. 5.1% yy , prev. 5.2%]

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

  • Egypt’s MNHD calls off planned merger with SODIC – document
  • Sudan protesters clash with police in ongoing unrest
  • Sex traffickers hold 20,000 Nigerian women and girls in Mali, agency says
  • Abiy’s Ethiopia pardons 13,000 accused of treason or terrorism
  • Kenyan police on trial over killing of UK aristocrat’s son
  • As election nears, Nigeria recommends 50 pct minimum wage rise
  • Africa Crude – Spot trade muted amid tenders, lack of allocations
  • Nigeria trade union rejects minimum wage recommendation – spokesman
  • Uganda deports MTN execs, cites national security – police
  • Italy’s Salvini bashes France over Libya role in new diplomatic spat
  • South Africa state pension fund suspends officials over technology deal
  • Floating Nigerian currency would cause crisis, central bank head says
  • Zimbabwe president condemns crackdown, backers raise impeachment fears
  • EU, AU signal support, but no acclaim, for Congo president-elect
  • Morocco’s trade deficit rises 8 pct in 2018
  • South Africa’s Gold Fields denies rumours of merger with AngloGold
  • Somalis turn a profit by transforming their scrap plastic
  • Almost 500 migrants brought back to Libya after foiled attempts to reach Italy
  • South Africa rand slips on global growth fears
  • South Africa’s AMCU issues further strike threat to Sibanye
  • Kenya and Ghana sound out banks for international bond offerings
  • Nigeria’s central bank providing 75 bln naira financing to Dangote’s oil refinery
  • MTN has paid $53 mln to settle Nigeria dispute – central bank
  • Algeria’s annual inflation slightly down to 4.3 pct in December
  • Nigeria’s ‘bad bank’ seeks investors for state-backed lender Polaris
  • Morocco inflation rises to 1.9 pct y/y, planning agency says
  • Egypt says dozens of militants killed in Sinai peninsula
  • South Africa’s economy to grow to 1.3 pct in 2019 – World Bank
  • 144 rescued migrants taken to Libya despite dangers – UN
  • Uganda shilling unchanged amid flat importer and bank demand
  • South Africa says there is no Saudi proposal on Denel under consideration
  • South Africa’s Multichoice sweetens Naspers split with dividend plan
  • South Africa’s Ramaphosa calls for lifting of sanctions on Zimbabwe
  • Zimbabwe rights commission: security forces instigated systematic torture after protests
  • Steinhoff says firm linked to former partner claims it is owed $330 mln
  • Kenya shilling firms against dollar on tightening liquidity, remittances
  • Zimbabwe will investigate misconduct by security forces over protests – Mnangagwa

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

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