#Africa #Markets | 16 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares absorb Nvidia blow, sterling licks its wounds
  • Nasdaq futures fall as Nvidia shares dive 17 pct on poor results
  • Nikkei subdued, Asia shares ex-Japan edge up
  • Pound shaky after hammering on UK political chaos
  • Oil tries to find footing after recent collapse

Oil Markets

  • Oil rises on expected OPEC cuts, but surging US supply drags
  • Brent crude oil futures up 0.7 pct at $67.10 per barrel (0353GMT)
  • US WTI crude futures up 0.7 pct at $56.84 per barrel

Precious metals

  • Gold prices edge higher amid Brexit turmoil
  • Spot gold up 0.2 pct at $1,214.77 per ounce (0121GMT)
  • US gold futures up 0.1 pct at $1,215.6 per ounce

Grains

  • US soybean prices steady amid hopes for US-China trade talks
  • Most active CBOT soybean futures nearly flat at $8.88-1/4 per bushel (0140GMT)
  • Wheat up 0.3 pct at $5.06-3/4 per bushel
  • Corn futures flat at $3.67-1/4 per bushel

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

  • AU heads of state meet in Addis tomorrow

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

  • Pentagon to cut troops in Africa to focus on shifts to China, Russia
  • Seven peacekeepers killed in clashes near eboal-hit part of east Congo
  • Ethiopia arrests ex deputy intelligence chief in corruption, rights crackdown
  • Egypt keeps interest rates on hold, says inflation contained
  • Freeze aid to Tanzania over rights violations, campaigners say
  • South Africa should avoid uncertainty in land reform – World Bank executive
  • EU: Tanzanian govt pressure on its envoy forced his recall to Brussels – statement
  • Africa Crude – Traders wait for Jan programmes, Nigerian clears
  • Four Malawian UN peacekeepers killed in Congo – Malawi Defence Force
  • Morocco inaugurates Africa’s fastest train
  • Tanzanian cashew price hike could lead to global shortage, traders say
  • Tens of thousands die in Africa each year due to fake drugs
  • GE hands leadership of Nigerian rail concession to Transnet
  • Financier of Islamic State paid money to rebel group in eastern Congo – report
  • Russia’s Alrosa sells stake in Botswana diamond joint venture
  • Global cobalt glut won’t be stemmed by Glencore Congo output stoppage
  • Trump to nominate handbag designer as new South African ambassador
  • Glencore’s Katanga warns of earnings hit if Congo row not resolved
  • Zimbabwe’s Chamisa says he’ll testify to inquiry only if president does
  • Ghana budget deficit seen easing to 4.2 pct in 2019 from 4.5 pct 2018 target
  • Kenya’s shilling to weaken, Zambia kwacha to firm; in week ahead
  • Gabon VP takes over cabinet amid President Bongo’s illness
  • South African parliament team calls for law change over land reform
  • Uganda shilling weakens as uptick in importer demand weighs
  • MTN Rwanda close to finalising 50 bln franc syndicated loan
  • South Africa’s former home affairs minister resigns from parliament
  • Egypt targets narrower budget deficit of 7 pct in 2019/20 – ministry document
  • Danakali, other miners says Eritrea sanctions lifting a boost
  • Satellite company SAS Global joins rush to boost Africa connectivity
  • Egypt unemployment rate falls to 10 pct in Q3 – CAPMAS
  • Ethiopia arrests security head at state-owned Ethio Telecom – broadcaster
  • Kenyan shilling weakens on importer demand, nears 10-mth low
  • Angola battles to revive oil exploration as output declines
  • Tullow Oil expects full-year cash at $700 mln, debt down to $2.8 bln
  • South Africa’s Sappi reports 4 pct fall in annual profit
  • South Africa’s Investec reports H1 operating profit up 14.2 pct
  • South Africa’s Woolworths posts 2.7 pct rise in 20-week sales
  • Angola battles to revive oil exploration as output declines
  • Ethiopia’s former deputy intelligence chief arrested – attorney general
  • Nigeria Senate committee says NNPC amount probed has doubled to $2.2 bln

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

#Global #Markets | 16 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
09:30 Hong Kong GDP Growth Rate YoY 
09:30 Hong Kong GDP Growth Rate QoQ 
09:30 Euro Area ECB Draghi Speech 
11:00 Italy Balance of Trade 
11:00 Euro Area Inflation Rate MoM 
11:00 Euro Area Core Inflation Rate YoY Final 
11:00 Euro Area Inflation Rate YoY Final 
15:15 US Industrial Production MoM 
15:15 US Industrial Production YoY 
22:00 US Foreign Bond Investment 
22:00 US Overall Net Capital Flows 
22:00 US Net Long-Term Tic Flows 
00:50 Japan Exports YoY 
00:50 Japan Balance of Trade
NEWS
Malaysia Q3 FDI Picks Up 
Malaysia Q3 Current Account Surplus Narrows Sharply 
Malaysia Q3 GDP Growth Weakest in 2 Years 
Singapore October NODX Rises More than Expected 
New Zealand Manufacturing PMI Climbs to 5-Month High 
US Stocks Rebound Sharply on Thursday 
Argentina Inflation Rate Jumps to 45.9% YoY 
Colombia Economic Activity Expands 2.3% YoY in September 
Mexico Lifts Interest Rate by 25 Bps to 8% 
Egypt Leaves Rates Unchanged 
Israel Inflation Rate Steady at 1.2% in October 
European Stocks Finish Lower on Brexit Turmoil 
Colombia Annual GDP Growth Slows to 2.7% in Q3 
US Crude Oil Inventories Rise the Most since Feb 2017 
US Business Inventories Match Forecasts

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 15 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks lifted by China-US trade hopes; oil resumes retreat
  • MSCI Asia-Pacific index up 0.4 pct, Nikkei dips 0.25 pct
  • Pound, euro firm after PM May gains cabinet backing for Brexit

Oil Markets

  • Oil prices resume decline on oversupply worries
  • Brent crude futures down 0.3 pct at $65.90 per barrel (0254GMT)
  • US WTI crude futures down 0.5 pct at $55.95 per barrel

Precious metals

  • Gold prices hold steady as dollar eases
  • Spot gold little changed at $1,210.65 per ounce (0055GMT)
  • US gold futures flat 0.1 pct at $1,203 per ounce

Grains

  • US soybean prices extend gains on export sales, slow harvest
  • Most traded CBOT soybean futures up 0.5 pct at $8.82-3/4 per bushel (0123GMT)
  • Most active wheat futures up 0.2 pct at $5.03-3/4 per bushel
  • Most active corn futures up 0.3 pct at $3.67-1/2 per bushel

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

  • Ghana 2019 budget statement to be delivered today
  • Rwanda’s Kagame in Qatar on state visit
  • South Africa’s Ramaphosa on working visit to EU; 14-15 Nov

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

  • Ethiopia arrests former deputy intelligence chief
  • Nigeria Senate committee says NNPC amount probed was doubled to $2.2 bln
  • Nigeria raises $2.86 bln in eurobonds to fund deficit
  • Shipbound migrants in Libya port say would rather die than disembark
  • UN bemoans lack of funding for African anti-jihadist force
  • Vodacom Tanzania approves sale of 26 pct stake to South Africa’s Vodacom Group
  • Kenyan judge sentences two police officers to death for murder
  • Ugandan soldiers to guard Chinese businesses after rash of robberies
  • Emerging economies see debt rise $1 trln in Q2, face record redemptions – IIF
  • Sibanye seals wage deal with South African unions
  • UN Security Council removes Eritrea sanctions after years
  • Africa Crude – Nigerian surplus persists, IOC picks up spot cargoes
  • Algeria’s ruling FLN party head quits
  • South Africa’s Standard Bank to lay off more than 500 workers
  • Global cobalt glut won’t be stemmed by Glencore Congo output stoppage
  • India’s African oil imports hit 3-yr high in Oct – trade
  • South Africa retail sales rise points to economic recovery; up 0.7% yy in Sep
  • Land reform in South Africa will not violate constitution – Ramaphosa
  • South Africa’s land expropriation unnerves investors – World Bank executive
  • Ugandan shilling firms as importer and interbank demand ebbs
  • Libya could hold elections next spring – Italy’s foreign min
  • European businesses help lift South Africa’s SPAR FY earnings

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

#Global #Markets | 15 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
06:30 Netherlands Unemployment Rate 
07:30 China FDI (YTD) YoY 
08:00 Turkey Unemployment Rate 
08:00 Indonesia Interest Rate Decision 
09:00 Philippines Interest Rate Decision 
10:30 UK Retail Sales ex Fuel MoM 
10:30 UK Retail Sales ex Fuel YoY 
10:30 UK Retail Sales YoY 
10:30 UK Retail Sales MoM 
11:00 Euro Area Balance of Trade 
13:00 Israel Inflation Rate MoM 
13:05 India Balance of Trade 
13:15 Euro Area ECB Cœuré Speech 
14:10 Euro Area ECB Praet Speech
NEWS
Indonesia Import Growth Accelerates Sharply 
Indonesia Exports Rise More than Expected in October 
Australia Jobless Rate Unchanged at 6-1/2-Year Low of 5% 
US Stocks Close Lower on Wednesday 
Sterling Flat Against USD as Cabinet Agrees May’s Plan 
European Shares Fall Ahead of UK Cabinet Meeting Outcome 
Colombia Retail Sales Grow at a Faster 5.9% in September 
Ukraine GDP Growth Slows to 2.8% in Q3 
Colombia Factory Output Grows Less than Expected 
Colombia Trade Gap Widens in September 
Colombia Imports Rise 8.4% YoY in September 
Oil Prices Rebound 
Natural Gas Prices Hit 4-1/2-Year High 
Ecuador Posts Smallest Trade Gap in 6 Months

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 14 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Crude oil struggles for traction after plunge, stocks sag
  • US crude struggles near 1-yr low after 7 pct plunge
  • MSCI Asia-Pacific index down 0.4 pct, Nikkei off 0.1 pct
  • Stocks capped after Wall St dips on sliding crude

Oil Markets

  • Oil markets struggle to find footing after 7 pct slump
  • Crude has lost a quarter of its value since early October
  • Jump in supply comes as demand outlook weakens
  • Top 3 oil producers see output surge
  • US WTI crude futures down 15 cents at $55.54 per barrel (0159GMT)
  • Brent crude futures up 4 cents at $65.51 per barrel

Precious metals

  • Gold edges up as dollar drifts away from multi-month high
  • Spot gold up about 0.1 pct at $1,202.55 per ounce (0101GMT)
  • US gold futures up 0.1 pct at $1,203 per ounce

Grains

  • Soybeans firm as USDA pegs harvest pace behind market forecasts
  • Most active CBOT wheat futures down about 0.1 pct at $5.07-1/2 per bushel (0131GMT)
  • Most active corn futures unchanged at $3.66-1/2 per bushel
  • Most active soy futures up 0.1 pct at $8.79-1/4 per bushel
  • Most active rice futures unchanged at $10.90 per hundredweight

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

  • South Africa’s Ramaphosa in Europe for SA-EU summit; 14-15 Nov
  • South Africa retail sales data for Sep-18 due [fcst. 2.5% yy, prev. 2.5%]

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

  • Fast-growing African cities at ‘extreme risk’ from climate change – analysts
  • US senators alarmed if China get control of Djibouti port
  • At least 15 killed in Cameroon in clashes between army, seperatists
  • South Africa’s home affairs minister Gigaba resigns
  • Nigerian firm takes blame for routing Google traffic through China
  • Ethiopia arrests ex-head of army firm in crackdown on security services
  • Morocco expects 50 bln dirhams in mobile payments by 2023
  • Spotify launches in the Middle East and North Africa
  • Africa Crude – Angolan export programmes due, Nigerian market in surplus
  • Sudan expects bidding round to develop oil and gas in Q3 2019
  • Rival Libya leaders meet for first time since May, PM okays 2019 vote
  • Congo’s ebola outbreak to last at least six more months – WHO
  • Zimbabwe’s inflation at highest in a decade as dollar shortage bites
  • MTN making progress to resolve $10.1 bln dispute with Nigeria – CEO
  • Families of freed Cameroonian kidnap victims feared Chibok repeat
  • Turkey withdraws from Libya summit in Italy – vice president
  • Facebook auction of South Sudan child bride could inspire other families – activists
  • MTN aims to offer mobile banking in Nigeria next year
  • Zimbabwe’s October inflation at 20.85 pct, highest since 2008
  • Former head of Ethiopia’s military-run METEC was arrested on Ethiopia-Sudan border
  • Zambia committed to improving debt transparency – president
  • South African court approves winding up graft-hit VBS bank
  • Ugandan shilling steady amid slump in demand for hard currency
  • NNPC says Nigeria will raise oil prodn to 1.8 mln bpd in 2019
  • Zambia committed to improving debt transparency, President Lungu says
  • Libyan leader meets eastern commander in Palermo
  • Kenyan shilling firms, helped by investor inflows into t-bond sale
  • South Africa’s Telkom H1 profit up 10 pct, mobile unit robust
  • Tunisia must control wage bill, IMF warns after deal with union

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

#Global #Markets | 14 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
05:30 Japan Tertiary Industry Index MoM 
07:30 India WPI Inflation YoY 
08:00 Finland GDP Growth Rate YoY Prel 
08:00 Finland GDP Growth Rate QoQ Prel 
08:00 Germany GDP Growth Rate QoQ Flash 
08:00 Germany GDP Growth Rate YoY Flash 
09:00 Nigeria Inflation Rate YoY 
09:30 Netherlands Balance of Trade 
09:30 Netherlands GDP Growth Rate YoY Flash 
09:30 Netherlands GDP Growth Rate QoQ Flash 
09:30 Sweden Inflation Rate MoM 
09:30 Sweden CPIF YoY 
10:00 Poland GDP Growth Rate YoY Prel 
10:00 Poland GDP Growth Rate QoQ Prel
NEWS
Sri Lanka Hikes Key Rate by 75 bps to 8% 
China Retail Sales Rise the Least in 5 Months 
China Industrial Output Rises More than Expected 
China Fixed Asset Investment Growth Beats Estimates 
Australia Wages Gain Steam in Q3 
Australia Consumer Confidence Climbs in November 
South Korea Jobless Rate Edges Down to 3.9% 
US Government Budget Deficit Widens in October 
Sterling Extends Gains on Brexit Draft Deal 
Natural Gas Prices Rally on Cold Weather Forecast 
European Shares Gain 
Oil Prices Dip Below $57 
US Stocks Rebound 
El Salvador Inflation Rate Hits 10-Month High of 1.50%

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 13 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares pare losses on US-China trade optimism, oil slides
  • MSCI ex-Japan off 1.4 pct, Nikkei plunges over 3 pct
  • Asian suppliers of iPhone parts down sharply
  • Euro breaks key chart support of $1.13 to lowest since mid-2017
  • Dollar benefits from euro, pound sell-off, US rate hike bets

Oil Markets

  • Oil falls as Trump raps OPEC’s supply cut plan, global markets skid
  • Brent below $70/b, WTI below $60/b amid broader market woes
  • Saudi Arabia says there is need to cut 1 mln bpd of supply
  • Trump says OPEC should not cut supply
  • Brent crude futures down 0.9 pct at $69.47 per barrel (0214GMT)
  • US WTI crude futures down 1.3 pct at $59.15 per barrel

Precious metals

  • Gold prices inch up after hitting 1-mth low
  • Spot gold up 0.2 pct at $1,202.99 per ounce (0125GMT)
  • US gold futures flat at $1,203.4 per ounce

Grains

  • Wheat slips from 3-wk high, soybeans rise
  • Most active CBOT wheat futures down 0.4 pct at $5.17-3/4 per bushel (0344GMT)
  • Most active corn futures down 0.3 pct at $3.70-1/4 per bushel
  • Most active soy futures down 0.3 pct at $8.85-3/4 per bushel
  • Most active rice futures unchanged at $10.65 per hundredweight

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

  • South Africa’s state capture inquiry continues
  • Paris Peace Forum contiunes today; a number of African heads of state in attendance
  • Libya conference in Italy today

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

  • South Africa’s Telkom H1 adjusted headline EPS up 10.3 pct
  • Tunisia must control wage bill, IMF warns after deal with union
  • Tunisia parliament approves prime minister’s cabinet reshuffle
  • Tunisia expects record number of tourists, up to nine million in 2019
  • Egypt tells Israel it needs to de-escalate Gaza violence
  • Two Congo opposition leaders pull support for joint election candidate
  • Libya rivals arrive for Italy summit after election shelved
  • Management contributed to collapse of Nigeria’s Skye Bank – deposit insurer
  • UN Security Council set to lift Eritrea sanctions on Wednesday
  • Dozens in court as Ethiopia says security chiefs ordered attack on PM
  • Nigeria telecoms regulator approves Teleology takeover of 9-mobile
  • Kidnappers free last of 80 Cameroon schoolboys
  • IMF says held constructive talks with Zambia on restoring debt sustainability
  • Sierra Leone ruling against palm oil company will empower communities – campaigners
  • Women cancer patients learn makeup tips in new Egypt workshop
  • South Africa’s Brait first-half net asset value falls
  • Africa Crude – Weak Asian demand, high freight weigh
  • Congo opposition supporters protest against joint election candidate
  • Ivory Coast Oct cocoa grinding unchanged y/y – exporter stats
  • Migrants rescued by cargo ship refuse to disembark at Libyan port
  • Egypt Sisi to visit Italy for Libya conference
  • South Africa’s competition watchdog rules SABC, Multichoice deal a merger
  • Ethiopia also arrested 27 METEC employees, police officials
  • Ethiopia’s attorney-general alleges vast corruption at military-run Metec
  • Ethiopia arrests 36 intelligence officials over alleged corruption, rights abuses
  • Egypt sells 695.10 euros in 1-yr euro-denominated t-bills – cbank
  • Mubadala to buy 20 pct interest in Egypt’s Nour offshore concession from Eni
  • Italy hosts Libya conference to push new UN peace plan
  • Kenyan shilling under pressure due to oil importer dollar demand
  • Uganda shilling steady as pending taxes trim demand
  • Zimbabwe invites bids for struggling national airline
  • South Africa’s Eskom warns of power cuts due to low coal stockpiles
  • Kenya to sell 20-yr infrastructure bond worth 50 bln shillings in Nov- cenbank
  • South Africa Vodacom H1 profit down 13.5 pct

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