#Africa #Markets | 6 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • China anxiety hits Asia stocks as tariff deadline nears
  • MSCI Asia ex-Japan index down 0.3 pct, Nikkei rebounds 0.6 pct
  • China’s CS1300 down 0.2 pct in choppy trade
  • Tariffs on $34 bn of Chinese goods take effect at 0401GMT

Oil Markets

  • Oil dips in nervous markets with US, China on brink of trade war
  • US set to introduce tariffs on Chinese goods on Friday
  • China has said it will retaliate immediately
  • Trade dispute comes amid increasingly tight oil market
  • US plans to introduce sanctions against oil exporter Iran
  • South Korea stops all orders of Iranian oil – sources
  • Brent crude futures down 0.4 pct at $77.11 per barrel (0214GMT)
  • US WTI crude futures down 0.2 pct at $72.80 per barrel

Precious metals

  • Gold prices steady after Fed minutes
  • Spot gold little changed at $1,257.24 an ounce (0045GMT)
  • US gold futures for August delivery down 0.4 pct at $1,258.30 an ounce

Grains

  • Chicago soybeans hit contract-low on US-China trade war
  • Most active CBOT wheat futures down 0.1 pct at $5.05-1/4 per bushel (0030GMT)
  • Most active corn futures down 0.4 pct at $3.63 per bushel
  • Most active soybean futures down 0.2 pct at $8.54-1/4 per bushel
  • Most active rice futures up 0.1 pct at $11.87 per hundredweight

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

  • South Africa Gross FX reserves data for Jun-18 [fcst. $51.5B, prev. $51.2B]
  • South Africa’s Ramaphosa to host BRICS stakeholders roundtable today; to discuss preparations for forthcoming summit
  • Ghana’s Akufo-Addo to conclude South Africa state visit; to return in 2 weeks for centenary celebrations (18 July)

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

  • Kenya’s ground-down coffee farmers switch to avocado amid global boom
  • US condemns effort to extend South Sudan president’s term
  • Italy wants end to Libyan embargo to help it tackle migrants
  • Former top officials in Sierra Leone charged with graft
  • South Africa traditional leaders warn ANC to keep its hands off their land
  • Equatorial Guinea grants opponents amnesty ahead of “national dialogue”
  • Lions eat rhino poachers on South African game reserve
  • Africa Crude – IOC awards tender, spot trade picks up
  • Three Kenyan policemen charged with murder of British aristocrat’s son
  • US terminates funding for Zimbabwe rights groups ahead of election
  • South Africa’s rand firmer as trade jitters ease, stocks falter
  • Three charged with manslaughter over bursting of Kenya dam that killed 47
  • South African mosque attacker had no link to extremism – police
  • Libyan party chief warns of “ fake voters” due to ID card scam
  • Tunisia inflation quickens to 7.8 pct in June
  • Ethiopia reform wave rolls on, opposition no longer “terrorists”
  • Fighting between Somalia’s al Shabaab and clan militias leave 17 dead
  • Egypt says has primary budget surplus as seeks to revive economy
  • For Egypt’s exporters, benefits of devaluation slow to emerge
  • Kenya’s anti-graft boss accuses lawyers and engineers of enabling graft
  • South Africans paying too much for private healthcare – watchdog
  • Nigeria’s ruling APC party splits over President Buhari
  • Kenyan govt suppliers go unpaid as corruption depletes state coffers
  • ICC issues second warrant for Libyan commander over killings
  • Egypt says achieves 0.2 pct primary budget surplus in 2017-2018 budget – minister
  • Kenyan shilling edges up against the dollar
  • Kenya to use Alphabet’s balloons for rural internet
  • Libya’s Bahr al-Salam Phase 2 gas project starts first well
  • Glencore launches $1 bln share buyback
  • Amplats sells stake in Rasimone mine to Rbplat for $135 mln
  • Ethiopian PM to visit US at end of July – media
  • Ethiopia fires senior prison officials for failing to respect rights
  • Telecom Egypt and Etisalat Misr sign two agreements

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

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