#Africa #Markets | 2 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares sluggish, Mexico peso up on Obrador lead
  • Mexico polls official quick count point to clear win for leftist Obrador
  • Asia shares muted, markets count down to tariff deadline
  • Euro wobbles on threat to German/EU immigration deal
  • Oil eases as Trump says Saudis ready to expand supply

Oil Markets

  • Oil falls as Saudi output rises to compensate for disruptions
  • Saudi crude output reaches near record 10.7 mln bpd – survey
  • White House says Saudis promised to boost output if needed
  • But markets remain on edge over trade spats, Iran sanctions
  • Brent crude futures down 1.1 pct at $78.35 per barrel (0231GMT)
  • US WTI crude futures down 1.2 pct at $73.26 a barrel

Precious metals

  • Gold prices inch down as dollar firms
  • Spot gold down 0.1 pct at $1,250.95 an ounce (0116GMT)
  • US gold futures down 0.1 pct at $1,252.70 an ounce


  • Wheat extends 2-day gains to more than 4 pct
  • Most active CBOT wheat futures up 0.7 pct at $5.04-1/2 per bushel (0055GMT)
  • Most active corn futures up 0.2 pct at $3.60-1/4 per bushel
  • Most active soybean futures up 0.5 pct at $8.84 per bushel
  • Most active rice futures down 0.3 pct at $11.19 per hundredweight

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

  • AU Summit continues in Mauritania

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

  • Kenya takes a look into the unknown: its underground water reserves
  • Mali car bomb attack kills 4 civilians, wounds 4 French soldiers
  • Libya’s NOC warns of impact of oil port shutdown
  • Sudan opposition leader refused entry to Egypt, says party
  • Malawian president says corruption reports “fake news”
  • Egypt says to start building nuclear plant in next 2 years
  • South African fuel prices to rise by more than 1.5 pct in July
  • DP World considering logistics facility in Ethiopia – state news agency
  • South Sudan, rebels trade attacks as truce due to start
  • Ambassadors join Ugandan march to protest violence against women
  • Egypt’s Sisi, facing online backlash, says country is on the “right track”
  • Egyptian court delays verdict in mass trial over Rabaa sit-in
  • IMF says approves further $2.02 bln of $12 bln loan to Egypt
  • Gambia’s Barrow reshuffles cabinet, appoints Darboe as vice president
  • US, UK, Norway call for end to ‘horrendous abuses’ in South Sudan
  • Ghana’s 91-day bill nearly flat at 13.33 pct
  • Struggle to control Libyan oil ports adds to global supply worries
  • Libyan coastguard says 100 migrants may have drowned near Tripoli
  • Congo says it will open 2 national parks up to oil drilling
  • Steinhoff takes $12 billion writedown after accounting scandal
  • Africa Crude – Outages prop up diffs but buyers stay on sidelines
  • Britain and Nigeria exploring ways to list naira bonds in London – Lord Mayor
  • South Africa’s rand rises but on track for weekly loss, stocks up
  • Kenya’s economic growth gathers pace in first quarter
  • Nigeria’s FX reserves fall 0.34 pct to $48 bln in June
  • Ghana reports outbreaks of H5 bird flu on farms
  • Scandal-hit Steinhoff posts $177 mln H1 operating loss
  • Kenya’s economy expands by 5.7 pct in the first quarter 2018
  • Struggle to control Libyan oil ports adds to global supply worries
  • Uganda telecom operators to start charging social media tax
  • Headquarters of West African G5 Sahel force attacked – sources
  • Angola’s Sonangol settles Cobalt Energy dispute with $350 mln payment
  • Botswana’s economy contracts 1.5 pct in Q1
  • Spain says EU pledges funds for Spain and Morocco to handle immigration
  • eSwatini police fire stun grenades at anti-govt protesters
  • As sanctions bit, Iranian executives bought African passports
  • Egypt’s Carbon Holdings to sign $10.9 bln petrochemicals contract – settlement
  • Ethiopia says grenade attack part of plot to disrupt economy; involving power, telecoms outage
  • South Africa’s trade surplus widens to 3.52 bln rand in May
  • Uganda shilling holds steady against the dollar
  • Kenya’s inflation rises to 4.28 pct in June
  • Kenyan shilling holds steady against end month demand
  • Steinhoff gets debt standstill approval, finalises terms for restructuring plan
  • Madagascar to hold presidential elections in November
  • Leaders of Ethiopia and Eritrea to meet soon in bid for peace – media
  • Zimbabwe’s Mnangagwa says grenade caused blast at rally last week
  • South Africa’s credit demand growth slows to 4.6 pct in May

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.