#Africa #Markets | 17 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks sag after oil slides, dollar steady before Fed speech
  • MSCI Asia-Pacific index down 0.5 pct, Nikkei adds 0.5 pct
  • Prospect of supply increase weighs on crude oil
  • Currencies await Fed Powell’s first congressional testimony

Oil Markets

  • Oil prices rise from 3-mth low as more Norwegian oil workers strike
  • Brent crude futures up 0.5 pct at $72.20 per barrel (0106GMT)
  • US WTI crude futures up 3 cents at $68.09 per barrel

Precious metals

  • Gold prices flat as dollar steady ahead of Fed speech
  • Spot gold steady at $1,239.60 an ounce (0039GMT)
  • US gold futures for August delivery unchanged at $1,239.70 an ounce

Grains

  • Soybeans firm 1 pct to hit 5-day high on USDA condition report
  • Most active CBOT wheat futures up 0.5 pct at $4.91 per bushel (0059GMT)
  • Most active corn futures up 1.2 pct at $3.59-1/2 per bushel
  • Most active soy futures up 1.0 pct at $8.54-1/4 per bushel
  • Most active rice futures down 0.3 pct at $12.02 per hundredweight

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

  • Barack Obama in South Africa for Mandela lecture today, day before 18 July Mandela Day. [Mr Obama was in Kenya yesterday]
  • South Africa consumer confidence data for Q2 2018 expected [prev. 26]
  • Nigeria’s Buhari in The Netherlands, to address International Criminal Court (ICC) at The Hague today on the 20th anniversary of its adoption of the ICC Rome Statute
  • South Africa’s central bank 3-day MPC meeting starts today (17-19 July)

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

  • In job-short South Africa, ‘dating service’ gets young people into work
  • Mass radio campaign saves thousands of child lives in Africa
  • South Africa’s talks tough on mine safety, says to engage tribal chiefs on land
  • Bank of Ghana annuls Belstar Capital purchase of control of ADB
  • Egypt passes law that could shield top military brass from prosecution
  • Liberia’s Weah takes steps to tackle inflation, poverty
  • Thousands of Congolese threatened by national park oil plans – activists
  • Egypt’s ex-military chief of staff Sami Anan in “critical” condition – sources
  • Africa Crude – Angolan programme emerges, Nigerian progs awaited
  • About 20 Nigerian soldiers missing after Boko Haram clash – sources
  • Kenya Power’s CEO charged in court over economic crime
  • Egypt to offer citizenship to foreigners for $400k deposit
  • South African rand firmer in scramble ahead of rates decision, stocks sag
  • France expels Islamist to Algeria
  • Kenya Power appoints an acting CEO after incumbent charged with economic crime
  • Gunmen kill 14 civilians in northeast Mali village
  • Obama urges Kenyan leaders to soothe ethnic tensions
  • South Africa’s Solidarity union on verge of wage settlement with Eskom – source
  • Strike halts gold production at Randgold’s Ivory Coast mine
  • Angola reopens May 2048 dollar bond
  • Wheaton in streaming deal with gold miner Sibanye
  • Russia may borrow $1 bln from BRICS devpt bank – minister
  • Eritrea reopens embassy in Addis Ababa in fresh sign of thaw with Ethiopia
  • Wheaton to pay Sibanye $500 mln for some gold, palladium assets
  • 8 migrants found dead in lorry container in western Libya
  • IMF team due in Zambia to discuss its debt levels
  • Namibia’s economy to grow by 1 pct in 2018 – finmin
  • Ugandan shilling extends gains on interbank sell-off
  • Kenya Power’s board says operations not affected by arrests
  • Kenyan shilling strengthens against the dollar
  • Amplats expects first-half profit to more than quadruple
  • New products, standards buoy Islamic trade finance business

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

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