#Africa #Markets | 18 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Japan stocks bounce as yen bows before strong dollar
  • Nikkei hits 1-mth peak as dollar climbs on yen
  • Fed’s Powell sticks with gradual rate hikes
  • Gold sinks to 1-yr lows, oil eases on inventories

Oil Markets

  • Oil prices fall after surprise rise in US inventories
  • Brent crude futures down 0.6 pct at $71.76 a barrel (0027GMT)
  • US WTI crude futures down 0.4 pct at $67.82 per barrel

Precious metals

  • Gold prices steady as dollar firms after Fed comments
  • Spot gold largely unchanged at $1,227.16 an ounce (0047GMT)
  • US gold futures for August delivery little changed at $1,227 an ounce

Grains

  • Wheat jumps more than 1 pct to hit 8-day high
  • Most active CBOT wheat futures up 1.4 pct at $5.04-3/4 per bushel (0104GMT)
  • Most active corn futures up 0.7 pct at $3.62-1/4 per bushel
  • Most active soy futures up 0.8 pct at $8.62 per bushel
  • Most active rice futures unchanged at $12.01 per hundredweight

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

  • Mandela Day in South Africa today; Ramaphosa to attend centenary celebrations in Eastern Cape province
  • Nigeria to unveil national airline today
  • South Africa inflation data for June expected [fcst. 4.6% yy, prev. 4.4%]
  • South Africa’s central bank MPC meeting enters day 2; decision tomorrow
  • Nigeria’s Buhari to wrap up trip to The Netherlands & The Hague

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

  • Tunisia approves illegal enrichment law to strengthen anti-corruption fight
  • Two migrants die on boat left adrift by Libyan coast guard – charity
  • Guinea’s mining minister says there will be Simandou deal, talks go on
  • Algerian militant suspect expelled by France will be retried – sources
  • Bullet wounds and little aid for Cameroonians fleeing Anglophone conflict
  • South Africa’s Solidarity union to agree wage deal with Eskom – source
  • Obama says world should resist cynicism over rise of strongmen
  • Migrants in Libya face rising threat from ‘stronger’ gangs and traffickers
  • Africa Crude – Traders await Nigerian loading programmes
  • Universal Music Group to open Nigeria division
  • Egypt names first five state companies to float shares under privatisation scheme
  • South Africa’s rand retreats as bears await rate decision; stocks up
  • Kenya Power CEO, senior managers granted bail
  • Kenya launches investigation into rhino deaths
  • Egypt targest social media with new law
  • Nigeria’s Buhari sends $750 mln supplementary budget to lawmakers
  • Prince Harry and Meghan visit Nelson Mandela tribute in London
  • Dubai’s Emaar Properties says to double investments in Egypt
  • Tullow Oil may halt Kenyan oilfield operations due to protest
  • Angola to export 47 crude cargoes in Sept., adds new grade
  • Almost 300 Malians killed this year in militia clashes – UN
  • Egypt’s parliament passes $11 billion sovereign wealth fund
  • Kenyan shilling firms as banks seek local currency to meet regulatory rules
  • South Africa’s Amplats, PIC create venture fund to lift PGM industrial demand
  • South African consumer confidence dips, but still higher than expected – survey

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

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