#Africa #Markets | 26 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks gain as Trump says China trade deal could be ‘soon’
  • Stocks grind higher on hopes for end to trade friction
  • Oil futures bounce back from overnight decline
  • Investors warn there are still risks to outlook

Oil Markets

  • Oil prices hold steady as Trump touts sooner-than-expected trade deal
  • Brent down 0.1% at $62.34 a barrel (0158GMT)
  • WTI up 0.1% at $56.55 a barrel

Precious metals

  • Gold gains ground on bargain hunting, strong dollar caps gains
  • Spot gold up 0.3% at $1,508.61/oz. (0126GMT)
  • US gold futures up 0.2% at $1,515.9/oz.

Grains

  • US soybeans hold steady on renewed trade optimism
  • Wheat futures up 0.3% at $4.78-1/2 per bushel (0016GMT)
  • Corn futures down 0.1% at $3.74 per bushel
  • Soy futures unchanged at $8.89-1/4 per bushel
  • Rice futures up 0.1% at $11.91 per hundredweight

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

  • South Africa producer inflation Aug-19 [fcst. 4.7% yy, prev. 4.9%]
  • 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]

  • World losing ground against violence in Sahel, UN says
  • Algeria sees 1.8% GDP growth in 2020 vs 2.6% forecast this year
  • Algeria jails top figures of Bouteflika era
  • Kenya parliament rejects request to remove interest rate caps
  • Thomas Cook collapse to cost Morocco hotels $20 mln – tourism body
  • EU wheat steady as euro, Egypt tender raise export hopes
  • South African rand weaker on US inquiry into Trump impeachment, stocks fall
  • Africa Oil – Majors see Saudi outages boosting light crude
  • Kenya parliament rejects finance ministry request to scrap commercial lending rate caps
  • ArcelorMittal South Africa may close some sites as it battles weak economy
  • Kenya budget carrier Jambojet to double passengers in 3 years
  • South Africa – Sibanye plans to cut over 5,000 jobs in Marikana restructuring
  • Egypt recovers some losses, Saudi loses momentum
  • More than 1,100 detained in Egypt after protests – rights monitors
  • Liberia hospital patients turned away as medical strike bites
  • South Africa tribunal clears Milco’s buyout of dairy firm Clover
  • Aid agency says hostage executed by group holding employee others in Nigeria
  • US launches strike in southern Libya as UN warns of escalation
  • Mercy Corps suspends northeast Nigeria work after army shuts offices
  • Algeria’s Sonatrach says it is talking to Chevron
  • Egypt stocks rise nearly 2.5% after 8 days of falls
  • Kenya shilling steady, remittances help meet end-mth demand
  • Uganda shilling flat as charity flows match importer demand
  • Tanzania’s mobile phone subscriptions rise to nearly 44 mln
  • South Africa records FDI inflows of 26.3 bln rand in Q2
  • Egypt to sell stakes in 5 or 6 companies by end-June 2020 – PM
  • Algeria jails 2 ex-intelligence chiefs for 15 years – media

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

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