#Africa #Markets | 20 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Economy hopes support shares, oil edges up on Mideast tensions
  • Share prices near this year’s peak in many markets
  • Sterling rises after Juncker’s comments on Brexit
  • China cuts new 1-yr lending benchmark rate by 5 bps

Oil Markets

  • Oil prices march to biggest weekly gain in months as MidEast tensions dominate
  • Brent, WTI on track for more than 7% gain this week
  • Biggest rise for Brent since Jan, strongest since June for WTI
  • MidEast tensions price boost as Saudi coalition attacks Yemen
  • Tropical Storm Imelda hits US energy infrastructure
  • Brent up 56 cents at $64.96 a barrel (0212GMT)
  • WTI up 66 cents at $58.79

Precious metals

  • Gold edges higher on soft dollar, heads for first weekly gain in four
  • Spot gold up 0.2% at $1,501.35/oz. (0142GMT)
  • US gold futures up 0.2% at $1,509.2/oz.

Grains

  • Corn futures set for second weekly gain on strong US exports
  • Wheat futures down 0.5% at $4.85-3/4 per bushel (0109GMT)
  • Corn futures down 0.3% at $3.71-3/4 per bushel
  • Soy futures down 0.2% at $8.91-1/4 per bushel
  • Rice futures down 0.2% at $12.34 per hundredweight

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

  • Bank of Ghana MPC decision [fcst. 15.0%, prev. 16.0%]
  • Central Bank of Nigeria MPC decision [fcst. 13.0%, prev. 13.5%]
  • 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]

  • Libya Coast Guard picks up nearly 500 migrants in region surrounding Tripoli
  • Nigeria court orders firm that won $9 bln case against govt to forfeit assets
  • Nigerian army says NGO aided terrorists, forces it to close office
  • Moderate Islamist Ennahda backs Saied in Tunisia’s presidential run-off
  • Sierra Leone toughens penalties for sexual violence
  • At least 28 displaced people killed in northern Congo
  • Morocco’s Attijariwafa Bank reports first-half profit up 4.9%
  • EU wheat at 1-mth high as Morocco boosts French export outlook
  • South Africa’s debt-ridden Cell C worthless, biggest shareholders say
  • Egypt’s SODIC interested in Heliopolis Housing estate – CEO
  • Algeria detains chief of former ruling party and opposition activist
  • South African rand slips back as central bank holds key rate, stocks down
  • Libya state oil firm rejects eastern parallel board for oil firm
  • Tunisia’s ousted president Ben Ali dies in Saudi exile
  • Africa Oil – Nigerian programmes start to appear
  • Nigeria court orders firm that won $9 bln case against govt to forfeit assets
  • South Africa hold key rate in unanimous decision
  • Zimbabwe doctors march to parliament after court intervention
  • Libya’s National Oil condemns attempt to divide its Brega unit
  • Egypt tuk-tuk startup Halan to expand to Ethiopia
  • Central African militia suspects, one a soccer boss, hear war crimes charges
  • Deutsche Post’s DHL preparing sale of supply chain operations in Africa
  • Zimbabwe court tells police to allow doctors’ march
  • Uganda shilling holds steady due to even dollar demand
  • South African retailer Mr Price warns of possible loss
  • Kenya starts tightening its belt after debt binge criticism
  • Algeria detains opposition activist in new sign of clampdown
  • Kenya shilling holds firm as offshore flows soak up pressure
  • Somalia GDP to grow 2.9% in 2019 vs 2.8% last year – IMF
  • Nigeria becomes Africa’s staging ground for the illegal pangolin trade with Asia
  • Kenya cuts 2019/20 financial year spending plans by 2.1%

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

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