#Africa #Markets | 16 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares fall on soft China data, trade war fears
  • MSCI Asia ex-Japan -0.3 pct
  • Shanghai Composite -0.5 pct, CSI300 -0.5 pct
  • China Q2 data shows slowing growth, weaker industrial output

Oil Markets

  • Oil prices dip as markets eye potential supply increases
  • Brent crude futures down 0.4 pct at $75.07 per barrel (0057GMT)
  • US WTI crude futures down 0.4 pct at $70.74 a barrel

Precious metals

  • Gold prices buoyed by weaker dollar, Asian stocks
  • Spot gold up 0.2 pct at $1,243.36 an ounce (0345GMT)
  • US gold futures for August delivery up 0.2 pct at $1,243.40 an ounce

Grains

  • Soybeans rebound near 10-year low, trade war tensions cap gains
  • Most active CBOT wheat futures down 0.5 pct at $4.94-3/4 per bushel (0100GMT)
  • Most active corn futures down 0.3 pct at $3.53-3/4 per bushel
  • Most active soybean futures up 0.5 pct at $8.38-1/2 per bushel
  • Most active rice futures up 0.1 pct at $12.00 per hundredweight

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

  • Nigeria inflation data for June 2018 expected [fcst. 11.0% yy, prev. 11.6%]

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

  • Tunisia’s president says PM should quit if crisis continues
  • Five miners killed in fire at South African copper mine
  • Kenya Power CEO under arrest over allegations of economic crimes – police
  • Tens of thousands protest in Morocco over jailed Rif activists
  • At concert, Ethiopia, Eritrea leaders preach peace, love, unity
  • Nigeria’s ruling party unseats opposition in southern Ekiti state
  • Algeria deports nearly 400 migrants back to Niger
  • Congo’s Kabila appoints army chief under US, EU sanctions for alleged violence
  • China willing to invest $3 bln in Nigerian oil operations – NNPC
  • Botswana may put elephants in cross-hairs as it moves to lift hunting ban
  • Post-Mugabe Zimbabwe set to frustrate eager investors
  • Telecom Egypt, Liquid Telecom sign MOU to complete fibre network from Cape Town to Cairo
  • Egypt uncovers mummy burial site near Great Pyramids
  • Libya’s Sharara oilfield cuts output after workders abducted
  • Morocco offers corporate tax break to spur industrial investments
  • Africa’s richest man signs $650 mln Afreximbank loan for oil refinery project
  • Eritrea’s president hails thaw in relations in return to Ethiopia
  • Eritrea president says during Ethiopia visit: “History is being made”
  • Shell confirms end to force majeure on Nigerian Bonny Light crude exports
  • UN countries agree on pact to manage mass global migration
  • Malta rebuffs Italy, says not responsible for migrant boat
  • Congo opposition leader Bemba nominated for presidential election
  • At least 58 injured as train derails in Egypt
  • Ethiopian dissident awaits news of captured brother after Eritrean thaw
  • Law head of South Africa’s $150 bln state pension fund quits
  • Workers resume at MTN Nigeria after days of labour unrest
  • Ghana’s 91-day bill dips to 13.31 pct
  • Africa Crude – FM lifted on Bonny Light, Sept. programmes awaited
  • UN Security Council imposea an arms embargo on South Sudan
  • Spot London cocoa commands large premium as supplies dwindle
  • Eight black rhinos die in Kenya during relocation between parks
  • Putin to take part in BRICS summit in South Africa – Kremlin
  • Zimbabwe suspends top prosecutor – state media
  • South Africa launches notes and coins for 100th anniversay of Mandela’s birth
  • Eritrea to reopen embassy in Ethiopia’s capital on Sunday
  • South Africa’s MeerKAT to help unlock mysteries of universe
  • Uganda shilling extends gains, helped by charity groups flows
  • Swiss unblock some funds seized in Angolan probe

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

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