#Africa #Markets | 16 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Oil surges, stock futures slip after attack on Saudi facility
  • Oil prices surge on fears of global supply disruption
  • Safe haven gold, Japanese yen rise, stock futures slip
  • Japan markets closed for public holiday, liquidity seen thin

Oil Markets

  • Oil prices soar 10% after attack on Saudi facilities hits global supply
  • Brent, WTI reach highest at the opening since May
  • Attack on Saudi oil facilities cuts Saudi output by 5.7 mln bpd
  • Trump approves release of SPR
  • Saudi likely to purchase refined products
  • Brent up 11.7% at $67.28 per barrel (0108GMT); was up more than 19% at opening
  • WTI up 10.5% at $60.60; jumped more than 15% at opening

Precious metals

  • Gold gains as attacks on Saudi oil plants lift safe haven bets
  • Spot gold up 1.2% at $1,506.87/oz. (0050GMT)
  • US gold futures up 1.1% at $1,516.10/oz.

Grains

  • Corn hits 17-day high on prospects of more ethanol demand
  • Corn futures up 0.7% at $3.71-1/4 a bushel (0053GMT)
  • Soybean futures up 0.3% at $9.01-3/4 a bushel
  • Wheat futures up 0.2% at $4.84-1/2 a bushel

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

  • Nigeria’s Bande to assume UNGA presidency in New York
  • Nile dam talks between Ethiopia, Sudan & Egypt in Cairo
  • Nigeria inflation Aug-19 [fcst. 11.0% yy, prev. 11.1%]
  • South Africa state capture inquiry resumes

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

  • Algeria to hold presidential election this year – interim president
  • Tunisia candidate Kais Saied says exit poll shows him leading
  • Spokesman for Tunisia candidate Karoui says he is through to next round
  • Polls close in first round of Tunisia presidential election
  • Egypt resumes Nile dam talks with Ethiopia, Sudan
  • Tunisia electoral head urges youth to vote with turnout seeming low
  • Somaliland UAE military base to be turned into civilian airport
  • Egypt’s economy to grow by 8% annually by 2022 – PM
  • Egypt expects share offerings by end of year – official
  • Congo police detain former health minister in ebola probe
  • West African leaders pledge $1 bln to fight Islamist threat
  • Egypt Sisi rebuffs videos alleging corruption
  • Tears and tributes as leaders, supporters bid farewell to Zimbabwe’s Mugabe
  • Foreign leaders, supporters bid farewell to Zimbabwe’s Mugabe
  • South Africa’a deputy mines minister dies in car accident
  • 5 confirmed cholera deaths in Sudan since Aug. 28
  • ‘This is our home’: Kenya islanders demand say in foreign-backed projects
  • 3 Libya eastern fighters killed in strike near Tripoli
  • Mugabe to be buried at Zimbabwe national shrine in about 30 days, nephew says
  • US sanctions former Uganda police boss for rights violations
  • Ivory Coast, Ghana strike first cocoa deals with living income premium
  • WHO investigating death in Tanzania due to unknown illness
  • Africa Oil – Nigerian offers hold strong, Angolan weakening
  • South Africa’s rand firms as trade optimism lifts risk assets, stocks up
  • Zambia cuts 2019 economic growth forecast after drought
  • Thousands march in Algeria, say no election before elite quits
  • Zimbabwe hikes lending rate to 70% to tackle inflation
  • In fuel-short Mali, farmers find money in saving tree stumps
  • Zimbabwe is serious about reform, needs outside support, foreign minister says
  • Tunisia court keeps presidential candidate in detention – lawyer
  • Ethiopian Airlines revenue jumps with rise in passenger numbers
  • Kenya becomes 3rd African nation to introduce malaria vaccine
  • Death toll in Congo’s train accident revised down to 15
  • Zambia president says 2019 economic growth forecast cut to 2%
  • Kenya shilling holds steady against the dollar
  • South Africa likely to miss 1.5% growth target – finmin
  • World Bank lifts aid embargo, approves $450 mln loan for Tanzania
  • South Africa’s rand firms as global monetary easing takes spotlight

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

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