#Africa #Markets | 24 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks inch up on trade hopes but growth fears temper gains
  • S&P 500 futures gain after Mnuchin comments on trade talks
  • Dismal euro zone data hurts euro, deepens anxiety about economy

Oil Markets

  • Oil eases as global demand concerns return, overshadowing Saudi supply
  • Saudi could resume full post-attack output next week – source
  • US oil inventories likely fell last week – Reuters poll
  • Brent down 29 cents at $64.48 per barrel (0154GMT)
  • WTI down 24 cents at $58.40 per barrel

Precious metals

  • Gold steady below 2-wk peak, trade talks optimism weighs
  • Spot gold little changed at $1,521.01/oz. (0155GMT)
  • US gold futures down 0.3% at $1,527.1/oz.


  • Soybeans slip; Chinese buys of North American supplies cap losses
  • Wheat futures down 0.3% at $4.81-3/4 per bushel (0103GMT)
  • Corn futures down 0.3% at $3.72 per bushel
  • Soy futures down 0.1% at $8.91-3/4 per bushel
  • Rice futures down 0.4% at $12.01 per hundredweight

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

  • Central Bank of Kenya’s Njoroge post-MPC press conference
  • UNGA continues; Nigeria’s Buhari to speak
  • South Africa National Heritage Day; Ramaphosa speech from Northern Cape

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

  • Trump backs Egypt’s Sisi in face of some protests back home
  • Nigeria’ will do ‘whatever it takes’ to shield country from $9 bln claim
  • Algeria to maintain foreign ownership limit in new energy law
  • Nigeria must address housing crisis and end forced evictions – UN rapporteur
  • Egypt authorities round up hundreds after rare protests
  • Aid group says vaccine ‘rationing’ in Congo is hampering ebola fight
  • Nigeria attorney general expects “colossal” sums from oil majors
  • Africa Oil – Saudi attacks yet to alter West African market
  • South African rand firmer against dollar, seen on backfoot
  • UK’s Harry & Meghan start South African tour in Nyanga township
  • Zimbabwe capital city shuts main water plant, shortages loom
  • Kenya central bank holds rates at 9% for the seventh time in a row
  • Sudan announces 9-mth plan to rescue economy, tame inflation
  • Algeria’s one-time kingmaker goes on trial
  • Egypt extends losses amid uncertainty over protests
  • Thomas Cook operator in Egypt says 25,000 bookings cancelled – statement
  • Sudan will ask World Bank for $2 bln in support – finmin
  • Thomas Cook owes Tunisia hotels 60 mln euros – minister
  • Kenya classroom collapse kills 7 children, injures 64
  • Aid group says WHO is restricting access to ebola vaccines in Congo
  • From Indonesia to Gabon, countries turn to nature to cut climate risks
  • Uganda shilling unchanged, importer demand flat
  • Sudan launches 9-mth rescue plans – finmin
  • Zimbabwe’s Mugabe died from cancer, president says
  • Kenya shilling holds steady against end-month demand
  • Egypt dollar bonds slip on protests, pound weakens in FX forward market
  • Tanzania fines 5 banks for lax anti-money laundering controls
  • Tap for trash: App seeks to clean Zimbabwe’s waste-clogged cities

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

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