#Africa #Markets | 17 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Oil trims gains but Middle East risks keep stocks on back foot
  • Oil futures pull back, but risks to sentiment remain
  • Stocks edge lower on risk-off trade
  • Some investors waiting for Fed meeting

Oil Markets

  • Oil falls more than 1% as market awaits response to Saudi oil attacks
  • Brent down 1.1% at $68.25 a barrel (0051GMT)
  • WTI down 1.3% at $62.08 a barrel

Precious metals

  • Gold prices hold steady ahead of Fed verdict
  • Spot gold steady at $1,497.40/oz. (0112GMT)
  • US gold futures down 0.4% at $1,504.9/oz.

Grains

  • Corn retreats from 17-day high on USDA crop report
  • Wheat futures down 0.4% at $4.86-3/4 per bushel (0008GMT)
  • Corn futures down 0.1% at $3.73-1/2 per bushel
  • Soy futures barely changed at $8.99-3/4 per bushel
  • Rice futures unchanged at $12.22 per hundredweight

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

  • Nigeria inflation Aug-19 [fcst. 11.0% yy, prev. 11.1%]
  • Nigeria’s new Economic Advisory Council in focus
  • Second batch of Nigerian returnees from South Africa expected
  • South Africa state capture inquiry continues

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

  • Cameroon taps Terminal Investment Limited to run Douala port
  • United Nations sees increase in child soldiers recruited in South Sudan
  • Africa Oil – Trade muted after flat price jump, Angolan prog emerges
  • South African rand slips as Saudi attacks knock risk appetite
  • Tunisian establishment stunned as outsiders win presidency
  • EU wheat firm as Chicago and euro offset Algeria demand doubts
  • Zimbabwe doctors protest over union leader’s disappearance
  • ICC prosecutor: will appeal Ivory Coast’s Gbagbo’s acquittal
  • Lower energy revenue pushes up Algeria’s trade deficit
  • South African army to stay longer in gang hotspots – Ramaphosa
  • Ivory Coast issues 72 cocoa export licenses for 2019/20 season
  • East Libya forces carry out air strike on central city, widening front
  • Uganda shilling unchanged as tax payments curb dollar appetite
  • Tanzania’s Zanzibar begins to register traditional healers
  • Islamic State fills the void in Nigeria as soldiers retreat to ‘super camps’
  • Egypt transport start-up Swvl targets expansion in Africa, Asia

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

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