#Africa #Markets | 10 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares rise for a 3rd day, pound bewildered by politics
  • Asia markets track Wall St rise on earnings optimism
  • MSCI ex-Japan up 0.4 pct, Nikkei rises about 1 pct
  • Pound pressured as more UK ministers resign
  • Oil prices underpinned by supply constraints

Oil Markets

  • Brent leads crude prices higher as Norway oil workers prepare to strike
  • Brent crude up 0.3 pct to $78.32 per barrel (0056GMT)
  • US light (WTI) crude futures up 0.2 pct at $74.02

Precious metals

  • Gold prices inch up amid Brexit uncertainty, subdued dollar
  • Spot gold up 0.1 pct at $1,258.12 an ounce (0057GMT)
  • US gold futures for August delivery down 0.1 pct at $1,258.70 an ounce

Grains

  • Soybeans edge up , USDA crop condition report caps gains
  • Most active CBOT wheat futures down 0.4 pct at $5.05-3/4 per bushel (0100GMT)
  • Most active corn futures down 0.1 pct at $3.66-1/2 per bushel
  • Most active soy futures up 0.4 pct at $8.75-1/4 per bushel
  • Most active rice futures nearly unchanged at $12.11 per hundredweight

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

  • Ivory Coast’s Ouattara expected to name new cabinet today
  • South Africa SACCI business confidence for June due [prev. 94]

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

  • Ex-foes Ethiopia, Eritrea eye peace dividend after historic deal
  • Nigerian opposition says to pick joint candidate for 2019 election
  • Congo’s Kabila delays UN chief’s visit, refuses to see US envoy Haley
  • Libyan civil registry rebuffs allegations of ID fraud
  • Egypt arrests head of customs authority for alleged bribery
  • South Africa’s rand hits 3-week peak, stocks led higher by commodities
  • Africa Crude – Angolan market well supplied, offers steady
  • UN chief says sanctions on Eritrea likely to become obsolete
  • UN chief cheers Ethiopia-Eritrea rapprochement
  • Egypt denies reports that cockpit fire likely caused 2016 EgyptAir crash
  • Ethiopian Airlines to resume flights to Eritrea’s Asmara next week – Ethiopian media
  • Egypt remittances up 48.2 pct in first 10 months of FY 2017/18 to $26 bln – c.bank
  • Uganda shilling strengthens as commercial banks sell off dollars
  • South Sudan rebels reject peace deal reinstating Machar
  • Kenyan shilling weakens due to excess liquidity
  • South Africa releases Zuma’s son on bail in corruption case
  • Angola’s net reserves fall to $13 billion in June
  • Ethiopia deal means “state of war is over” – Eritrean minister
  • Gabon oil workers start 15-day strike at Total facilities
  • Libya’s oil output more than halved since February – NOC
  • McKinsey overhauls South Africa office after graft scandal
  • Ethiopia, Eritrea to jointly develop ports on Eritrea’s Red Sea coast
  • Ethiopia dollar bonds hit 10-week high after Eritrea rapprochement
  • South Africa charges Zuma’s son with corruption – lawyer

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

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