#Africa #Markets | 4 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares, yuan on shaky ground on spectre of Sino-US trade war
  • Asian shares near 9-mth low, Nikkei down 0.5 pct
  • Falls in US tech shares heighten worries
  • Yuan steady for now after PBOC’s moves

Oil Markets

  • Oil prices climb on tightening US market
  • US fuel inventories drop amid Syncrude Canada outage
  • Outside N.America, markets eye looming sanctions against Iran
  • US WTI crude futures up 0.6 pct at $74.60 a barrel (0044GMT)
  • Brent crude futures up 6 cents at $77.82 per barrel

Precious metals

  • Gold prices rebound to 1-wk high amid trade tensions
  • Spot gold up 0.4 pct at $1,257.51 an ounce (0058GMT)
  • US gold futures up 0.4 pct at $1,258.70 an ounce

Grains (3 Jul)

  • Wheat, corn gain on weather worries; soybeans hit new lows
  • Wheat gains 2 pct after Monday’s 4 pct decline
  • Corn firms as US heat wave targets crops
  • Soybeans settle at lowest level since March 2016
  • Most active CBOT wheat futures up 2.2 pct at $4.91 a bushel
  • Most active corn futures up 1.4 pct at $3.52 a bushel
  • Most active soybean futures down 5-1/2 cents at $8.48 a bushel

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

  • 3rd BRICS industry ministers meeting in Magaliesburg, South Africa, today

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

  • France’s president visits Nigerian music legend’s nightclub
  • Mediterranean centres no quick fix to EU migration challenge – UN agency
  • South Africa’s Sasol senior employees want to strike over black employees’ scheme – union
  • Drug use in Kenya’s coast communities up as West-bound heroin flows through
  • Mass rape, cannibalism, dismemberment: UN team finds atrocities in Congo war
  • Africa Crude – Urals diffs fall in NW Europe as Russia tops up Primorsk exports in July
  • Ten African nations face $1 trillion infrastructure funding gap
  • Mali election organisers extend strike indefinitely weeks before vote
  • South Africa’s rand firms on weaker dollar
  • Nigerian police rescue kidnapped father of national soccer captain
  • Morocco’s growth slows to 3 pct in Q2
  • Algeria, Tunisia consider joining Morocco in future World Cup bid
  • Egypt’s economy grew 5.4 pct in 12 months to June 30 – PM
  • French hostage’s son searches for mother in West African desert
  • Ghana’s cedi at record lows on emerging markets pressure
  • Emerging market portfolio outflows accelerate to $8 bln in June – IIF
  • Ethiopia’s dams threaten thousands of Kenyans – environmentalists
  • Mali election organisers extend strike indefinitely weeks before elections
  • Tullow told to pay Seadrill $254 mln over Ghana dispute
  • Ugandan groups file court challenge against social media tax
  • South Sudan govt proposes bill to extend president’s term
  • South Africa funding to suffer from weak rand, high yields – Moody’s
  • Kenyan shilling firm, underpinned by healthy inflows and tight liquidity
  • Ugandan shilling strengthens on liquidity squeeze
  • Weaker rand, higher bond yields hurts South Africa’s finances – Moody’s
  • Zuma’s son summoned to South African court over fatal car crash
  • South African rand under pressure from strong dollar
  • Kenya to prosecute county governor, nine others in graft case
  • Egypt’s non-oil business activity rises slightly in June – PMI
  • With refrigerated ATMs, camel milk business thrives in Kenya

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

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