#Africa #Markets | 18 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asian shares rise amid US tax cut hopes; pound struggles
  • MSCI ex-Japan rises 0.1 pct after adding 0.8 pct last week
  • Australian shares up 0.1 pct, Japan’s Nikkei climbs 0.8 pct
  • Votes on US tax legislation expected this week

Oil markets

  • Oil markets little changed on lack of price drivers
  • US WTI crude futures at $57.33 (0105GMT), up 3 cents from their last settlement

Precious metals

  • Gold prices edge down amid firmer dollar, equities
  • Spot gold was down 0.1 pct at $1,254.16 an ounce (0059GMT)
  • US gold futures were little changed at $1,257 an ounce

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

  • South Africa’s ruling ANC party to announce new leadership [#ANC54]
  • Uganda interest rate decision [fcst. 9.0%, prev. 9.5%]
  • Botswana interest rate decision [fcst. 5.0%, prev. 5.0%]

Key African events or data releases over the weekend
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • South Africa’s ANC votes to elect leader to replace scandal-ridden Zuma
  • Four dead in ambush of World Food Programme convoy in Nigeria
  • East Libya commander Haftar says UN-backed govt obsolete, hints may run in elections
  • South Africa’s rand firms more than 2 pct on ANC leadership contest
  • South Africa Ramaphosa, Dlamini-Zuma formally nominated to run for president of ANC
  • Average yields fall on Egypt’s 3- and 9- month T-bills
  • Egypt seeks proposals for dollar bond issues – banking sources
  • Initial Zohr output raises Egypt’s natural gas production to 5.5 bln cubic feet daily – minister
  • South Africa’s Zuma calls for party unity as ANC meets to elect new leader
  • South Africa’s Zuma says influence-peddling in his government to be investigated
  • Nigeria oil union calls for strike from Monday after talks hit deadlock
  • Egypt’s Zohr gas field to start production at 350 mln cubic feet/day
  • South Africa’s ANC says party officials barred by courts will not vote at conference
  • South Africa to take tough decisions to grow economy – Gigaba
  • South Africa to increase spending on higher education
  • S&P says Republic of Senegal ‘B+/B’ ratings affirmed
  • Ebola victims sue Sierra Leone govt over mismanaged funds
  • Forgetful ministers keep Mugabe’s name alive at Zimbabwe congress
  • Zimbabwe’s ruling party must fix economy to win vote – president
  • Vale workers in Mozambique down tools at Moatize mine over bonus pay
  • Malawi’s November inflation slows to 7.7 pct y/y – official data
  • Ethiopia ex-official gets Dutch life sentence for war crimes
  • Zimbabwe’s Mnangagwa says land reforms irreversible
  • Nigeria tariff causes car imports to fall, fuels smuggling – ports authority
  • South Sudan’s Kiir promotes three generals facing UN sanctions
  • Russia signs aviation safety agreement with Egypt in move to resume flights
  • Zimbabwe’s ruling party endorses Mnangagwa as leader after Mugabe downfall
  • For $6 a month, child trafficking nearly halted in Benin hotspot
  • South Africa’s Steinhoff ex-chairman Wiese calls off $2.6 bln Shoprite deal
  • Nigeria’s Oando issues official statement on SEC forensic audit commencement
  • South Africa regulator allows Eskom to raise tariffs by 5 pct in 2018/19
  • Zimbabwe’s inflation rises to 2.97 pct y/y in November
  • South Africa regulator probes conduct of Steinhoff auditors
  • South Africa’s Eskom “disappointed” by 5 pct electricity tariff increase
  • Out of US sanctions, Sudan tries to lure back investors
  • Nigeria T-bills extend rally as sell-off, new issues weigh
  • Air traffic controllers strike at new Senegal airport, want more training
  • Congo child soldiers awarded $10 mln compensation in landmark ruling
  • Zimbabwe’s Mnangagwa says elections must be credible, free and fair
  • South Africa’s 3-month T-bill average yield rises to 7.75 pct
  • Mauritius 91-day Treasury bill yield rises to 2.43 pct
  • Rwanda’s GDP growth rises to 8 pct y/y in Q3
  • Middle-class Egypt adapts to survive as austerity bites
  • Somalia’s budget meets IMF terms, official says
  • Botswana’s inflation cools to 2.9 pct y/y in November
  • South Africa Steinhoff African unit to repay $1.2 bln loan to troubled parent
  • South Africa Steinhoff says Christo Wiese resigns as chairman of supervisory board

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

#Global #Markets | 18 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

17 Dec
2350GMT   Japan Trade balance (Nov-17) (act. JPY113B, est. JPY-55B, prev. JPY285B)

18 Dec
0130GMT   China House price index (Nov-17) (act. 5.1% yy, prev. 5.4%)
0430GMT   Japan All industry activity index (Oct-17) (est. 0.4% mm, prev. -0.5%)
1000GMT   Euro Area Inflation rate (final) (Nov-17) (est. 1.5% yy, prev. 1.4%)
1100GMT   UK CBI Industrial trends orders (Dec-17) (est. 14, prev. 17)
1500GMT   US NAHB Housing market index (Dec-17) (est. 70, prev. 70)

N.B

  • Uganda interest rate decision [fcst. 9.0%, prev. 9.5%]
  • Botswana interest rate decision [fcst. 5.0%, prev. 5.0%]

#Africa #Markets | 15 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asian shares edge up, on track for weekly gain
  • Wall Street slumps on concerns about US tax reform bill
  • Nikkei skids, as yen strengthens
  • US crude futures extend overnight gains

Oil markets

  • Oil stable on tighter market
  • Rising US output looms for 2018
  • OPEC-led supply cuts, Forties pipeline outage support crude
  • Rising US output, driven by shale, weighs on market

Precious metals

  • Gold steady amid subdued dollar, poised for weekly gain
  • Spot gold was nearly unchanged at $1,253.20 an ounce (0054GMT), after dipping 0.2 pct in the previous session
  • US gold futures edged down 0.1 pct at $1,255.70

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

  • Zimbabwe’s Mnangagwa to address ruling ZANU-PF party extraordinary congress today (15 Dec), to be endorsed as presidential candidate for 2018 elections
  • South Africa’s ANC elective conference starts tomorrow (16 Dec)

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

  • Morocco should step up structural reforms – IMF
  • Giant rats increase their attack on tuberculosis in Tanzania
  • South Africa’s PPC resigned to remaining single
  • World Bank invests $4.5 bln to arm cities against climate change
  • Coffee extends rebound from multi-month lows
  • South Africa’s Sibanye-Stillwater to be No.2 platinum miner with Lonmin buy
  • South Africa’s Steinhoff says Christo Wiese steps down as chairman
  • Kenya president’s election campaign used firm hired by Trump – privacy group
  • Lonmin labour union considers taking action to fight Sibanye takeover
  • Ivory Coast awards Tullow two new onshore oil blocks
  • Yields on Kenya’s 15-yr, 10-yr Treasury bonds up at latest sale – cenbank
  • Yields on Kenya’s 182-day and 364-day T-bills rise, 91-day T-bills at auction
  • Nigeria to release $1 bln from excess oil account to fight Boko Haram
  • Sudan’s oil supply threatened due to dollar shortage
  • Fitch places First Bank of Nigeria’s subordinated notes on rating watch positive on exposure draft
  • Tunisia ready for “decisive action” on economy, IMF says
  • Retention of jobs critical following Sibanye-Lonmin deal – mines minister
  • South Africa’s PPC not looking to sell assets or merge anymore – chairman
  • ECB willing to learn lessons from South Africa’s Steinhoff buys, says Draghi
  • Nigeria to issue $29 mln debut green bond next week
  • Zimbabwe’s Mnangagwa calls for end to Western sanctions
  • Standard Bank appoints Lungiza Fuzile as CEO of South Africa unit
  • Broke South Sudan hike fees, blocks aid despite appeal for cash
  • Sudan inflation drops to 24.76 pct in November
  • Cameroon’s Anglophones flee to Nigeria as crackdown grows
  • Saudi-backed military alliance to help G5 Sahel fight
  • Zambia sees 2017 copper output rising to 850,000 tonnes
  • Zimbabwe’s former finance minister faces new corruption charges
  • Angola Lourenco’s offers ultimatum for repatriation of funds
  • Kenya police assaulted and raped women during election – rights group
  • Nigeria repays $1.1 bln worth of T-bills; overnight rates fall
  • South Africa’s November producer inflation steady at 5.1 pct yr/yr
  • South Africa’s current account deficit narrows to 2.3 pct of GDP, FDI and trade surplus climb
  • Zimbabwe’s ex-leader Mugabe visits Singapore hospital – sources
  • Nambia economic recession deepens in third quarter, contracts 1.9 pct
  • Namibia inflation unchanged at 5.2 pct yr/yr in November
  • Egypt minister set to sign deal to resume Russia flights
  • South Africa’s Zuma appeals court ruling on state prosecutors’s appointment
  • Egypt’s agriculture ministry updates policy to end ergot confusion 

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

#Global #Markets | 15 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

1000GMT   Euro Area Trade balance (Oct-17) (est. €24.6B, prev. €26.4B)
1130GMT   India FX reserves (8 Dec) (prev. $401.9B)
1205GMT   India Trade balance (Nov-17) (est. $13.8B, prev. $-14.0B)
1330GMT   US NY Empire State manufacturing index (Dec-17) (est. 18.6, prev. 19.4)
1415GMT   US Industrial production (Nov-17) (est. 0.3% mm, prev. 0.9%)
1800GMT   US Baker Hughes oil rig count (Dec-17) (prev. 751)
2100GMT   US Net long-term Tic flows (Oct-17) (prev. $80.9B)
2100GMT   US Overall net capital flows (Oct-17) (prev. $-51.3B)
2100GMT   US Foreign bond investment (Oct-17) (est. $-4.3B, prev. $12.7B)

N.B
UK BoE Quarterly bulletin (1200GMT)
ECB Draghi speech during the day

#Africa #Markets | 14 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asia stocks edge higher after Fed meeting
  • US dollar, yields sag
  • MSCI Asia-Pacific index up 0.45 pct
  • Fed hike rates but sounds caution over low inflation
  • China hikes interest rates, overall impact limited

Oil markets

  • Oil rises on lower US crude stocks
  • But growing output caps gains
  • US crude stocks down for 4th straight week
  • US production rises close to 10 mln bpd

Precious metals

  • Gold edges up as dollar holds steady
  • Spot gold was up 0.15 pct at $1,257.11 an ounce (0123GMT), after rising nearly 1 pct in the previous session
  • US gold futures were up nearly 1 pct at $1,260.60

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

  • 0800GMT   South Africa Current Account (Q3-17) (prev. -2.4% of GDP) [fcst: -2.5%]
  • 0930GMT   South Africa PPI (Nov-17) (est. 5.0% yy, prev. 5.0%) [fcst: 5.2%]

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

  • Steinhoff to restate 2016 financial results
  • US sanctions 2 Africans over ivory, weapons trade
  • Arabic coffee claws up from 7-session drop, NY cocoa rebounds
  • LafargeHolcim ends talks with South Africa’s PPC
  • Congo fighters jailed for life for child rape ceremonies – rights groups
  • 400,000 children risk starvation in volatile Congo as aid dries up
  • Zimbabwe orders illegal settlers to vacate farms
  • Investors concerned about Nigeria controls, but have not given up – IMF
  • Supporters of Egypt presidential hopeful arrested, say security sources, family
  • Nigeria NGOs slam civil society bill as grave threats to freedoms
  • Nigeria’s one-year T-bil yield rises more after Tuesday’s dive
  • Algeria’s ruling caste set on orderly succession, when the time comes
  • Burundi expects econ growth, spending to pick up in 2018
  • Zimbabweans wait to see whether Mnangagwa’s VPs will add new blood
  • Eni completes sale of 25 pct stake in Mozambique gas project to Exxon
  • In another blow to Zuma, South African top court orders influence-peddling inquiry
  • South African state fund wants a part in Steinhoff’s accounting scandal probe
  • Algeria’s Sonatrach plans closer ties with Total on energy projects
  • Tanzania’s Magufuli orders tighter FX controls, bank crackdown as growth slows
  • Zimbabwe seizes 200kg of ivory destined for Malaysia
  • Mauritius cenbank forecasts 2017 c/a deficit of 5.1 pct of GDP
  • Nigeria’s 1-year T-bill yield rises as foreign funds exit
  • Mozambique president replaces energy and foreign ministers
  • South African court upholds watchdog recommendation to set up inquiry on influence-peddling
  • South Africa’s retail sales rise 3.2 pct year/year in October
  • South Sudan needs $1.7 bln humanitarian aid in 2018
  • Botswana exchange lists IFC local currency bond
  • IMF urges Tanzania to reform and spend to stem economic slowdown
  • South Africa court orders Zuma to pay costs for challenging watchdog
  • South Africa’s CPI slows to 4.6 pct year/year in November
  • EU pushes to curb Africa migration more, still split on hosting refugees

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

#Global #Markets | 14 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

0030GMT   Australia Unemployment rate (Nov-17) (act. 5.4%, est. 5.4%, prev. 5.4%)
0030GMT   Australia Employment change (Nov-17) (act. 61.6K, est. 19.2K, prev. 7.8K)
0030GMT   Japan Nikkei manufacturing PMI (flash) (Dec-17) (act. 54.2, prev. 53.6)
0200GMT   China Industrial production (Nov-17) (act. 6.1% yy, est. 6.2%, prev. 6.2%)
0200GMT   China Retail sales (Nov-17) (act. 10.2% yy, est. 10.3%, prev. 10.0%)
0200GMT   China Fixed asset investment (YTD) (Nov-17) (act. 7.2% yy, est. 7.2%, prev. 7.3%)
0430GMT   Japan Industrial production (final) (Oct-17) (est. 5.9% yy, prev. 2.6%)
0630GMT   India WPI inflation (Nov-17) (prev. 3.6% yy)
0800GMT   South Africa Current account (Q3-17) (est. R-87.3B, prev. R-110B)
0830GMT   Germany Markit composite PMI (flash) (Dec-17) (est. 57.3, prev. 57.3)
0900GMT   Euro Area Markit composite PMI (flash) (Dec-17) (est. 57.2, prev. 57.5)
0930GMT   South Africa PPI (Nov-17) (est. 5.0% yy, prev. 5.0%) [fcst: 5.2%]
0930GMT   UK Retail sales (Nov-17) (est. 0.3% yy, prev. -0.3%)
1200GMT   UK BoE interest rate decision (est. 0.5%, prev. 0.5%)
1200GMT   UK BoE QE (est. £435B, prev. £435B)
1245GMT   Euro Area ECB interest rate decision (est. 0%, prev. 0%)
1245GMT   Euro Area ECB Deposit facility rate (est. -0.4%, prev. -0.4%)
1330GMT   US Retail sales (Nov-17) (est. 0.3% mm, prev. 0.2%)
1330GMT   US Initial jobless claims (9 Dec) (est. 240K, prev. 236K)
1445GMT   US Markit composite PMI (Dec-17) (prev. 54.5)
1500GMT   US Business inventories (Oct-17) (est. -0.1% mm, prev. 0%)

#Africa #Markets | 13 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asian shares flat
  • Fed widely expected to hike interest rates
  • Investors await outcome of Alabama Senate election

Oil markets

  • Oil recovers on big U.S. crude stock drawdown
  • U.S. crude stocks fall by 7.4 mln bbls – API
  • U.S. gasoline, distillate stocks increase – API

Precious metals

  • Gold prices nearly flat ahead of Fed meeting outcome
  • Spot gold was steady at $1,243.10 an ounce (0051GMT), after marking its lowest since 20 July at $1,235.92 in the last session
  • U.S. gold futures were up 0.3 pct at $1,245.40

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

  • 0800GMT   South Africa Inflation rate (Nov-17) (est. 4.7% yy, prev. 4.8%) [fcst: 4.9%]
  • 0800GMT   South Africa Inflation rate (Nov-17) (est. 0.2% mm, prev. 0.3%) [fcst: 0.4%]
  • 1100GMT   South Africa Retail sales (Oct-17) (est. 5.2% yy, prev. 5.4%) [fcst: 5.3%]
  • Uganda interest rate decision (prev. 9.5%) [fcst: 9.5%]

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

  • France-based Miner AMR starts bauxite production in Guinea
  • Afreximbank pledges up to $1.5 billion to post-Mugabe Zimbabwe
  • Nigeria court drops most corruption charges against Senate president
  • Nigeria central bank injects $210 mln into currency market
  • EU pushes to curb Africa migration more, still split on hosting refugees
  • Guinea allowed $650 mln in non-concessional loans under IMF programme
  • Liberia to hold run-off vote on Dec. 26
  • Amnesty says EU is complicit in violations of migrant rights in Libya
  • South Africa’s Transnet hires banks for US dollar bond
  • Moody’s says challenging operating conditions keeps 2018 outlook for Africa banks negative
  • Namibia’s economic growth seen contracting in 2017 – IMF
  • South Africa’s Zuma rejects reports his office is drafting emergency laws
  • Zimbabwe voters need more time to register after turmoil – parties
  • South Africa’s nearly man Ramaphosa may lead country at last
  • “Fierce and formidable” Dlamini-Zuma eyes South Africa’s presidency
  • Tight race as South Africa’s ANC prepares to elect Zuma successor
  • One Planet summit turns to private sector for climate action
  • Major Nigeria oil union to meet government before planned strikes
  • Namibia’s economic growth seen at 4 pct in 2019/20 financial year – IMF
  • Mauritius central bank names Googoolye new governor
  • IMF says Sudan must float currency to boost growth, investment
  • South Africa’s revenue agency concerned about falling tax compliance
  • Libya’s Nafusa Oil operations hoping to pump 10,000 bpd in Ghadames basin
  • Nigeria plans to repay $647 mln T.bills, yields drop
  • Unfazed by OPEC, Libya and Nigeria seek to boost oil output
  • South Africa’s October manufacturing output up 2.2 pct y/y
  • Cholera resurges in Zambia capital Lusaka, WHO says
  • Botswana’s 2017/18 budget in surplus at half-year mark
  • Yields mixed in weekly South Africa government bond auction
  • South Africa’s trade department, company regulator to probe Steinhoff
  • Zimbabwe’s Mugabe flies to Singapore, first trip since ouster

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