#Africa #Markets | 5 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks wobbly before tariff deadline in Sino-US trade war
  • MSCI Asia-Pacific index down 0.1 pct, Nikkei down 0.15 pct
  • US markets closed on Weds, Asia lacks strong direction
  • Moves limited before Washington’s July 6 tariffs deadline
  • Copper, zinc stuck near 1-yr lows amid trade woes
  • Crude slips after Trump demands OPEC “reduce pricing now”

Oil Markets

  • Oil prices fall as Trump demands OPEC “reduce pricing now”
  • Trump sends tweet demanding OPEC cut oil prices
  • OPEC supply cuts since 2017 have tightened oil markets
  • Oil has also risen on US sanction threat against Iran
  • Friday could see China raise tariffs on US crude imports
  • Brent crude futures down 0.7 pct at $77.70 per barrel (0250GMT)
  • US WTI crude futures down 0.4 pct at $73.88 per barrel

Precious metals

  • Gold prices steady on softer dollar ahead of Fed minutes
  • Spot gold steady at $1,256.02 an ounce (0047GMT)
  • US gold futures up 0.3 pct at $1,257.20 an ounce

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

  • 8th BRICS trade ministers meeting in Magaliesburg, South Africa
  • Ghana’s Akufo-Addo state visit to South Africa today
  • South Africa’s EFF/Malema presser today

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

  • Telecom Egypt and Etisalat Misr sign two agreements
  • Woolworths Group enters 15-year fuel supply deal with Caltex Australia
  • Egypt puts relics recovered from smugglers in Italy on display
  • Uganda leader says social media used for “lying”, defends tax for access
  • Migrant rescue boat arrives in Spain after rejection by Italy and Malta
  • Nigeria to offer 12.7 bln naira mining contract to 8 firms
  • Former Sierra Leone govt was corrupt – presidential commission
  • Nigeria woos importers to trade Chinese yuan
  • Zimbabwe opposition says “no election” without ballot paper deal
  • Africa Crude – Flurry of Angolan trade, tender keeps spot Nigerian quiet
  • South African rand eases amid global trade worries
  • Burundi school ban on expectant teens ‘skewed’ against girls’ education
  • Kenyan county governor accused of fraud conspiracy
  • Conflict in Congo’s Kasai could be prelude to genocide, UN expert warns
  • Ivory Coast’s Ouattara dissolves govt amid coalition infighting
  • Gunmen attack South Sudan humanitarian convoy, driver killed – UNICEF
  • Creditors approve Agrokor debt settlement deal
  • UK’s Tullow says Kenyan protesters block oil trucks
  • Mali election officials end strike, easing fears for July 29 poll
  • 9 to be charged over Kenya rose farm dam break that killed 47
  • Liberia central bank governor resigns
  • Saudi Arabia offers Comoros $22 mln to finance water, road projects
  • Tens of thousands of Kenyans go hungry after floods – aid agencies
  • Violence in southern Ethiopia forces more than 800k to flee
  • Kenya considers selling treasury bonds through private placement
  • Uganda shilling extends gains on the back of scarce liquidity
  • Two suspects arrested in Zimbabwe over Mnangagwa rally blast – police
  • Kenyan shilling appreciates against the dollar

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

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