#Africa #Markets | 24 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Bonds unsettled by tightening talk, US growth outlook
  • Nikkei edges up as yen eases, dollar bounces modestly
  • Longer term bond yields rise globally, focus on BOJ
  • Talk US GDP report on Friday could beat forecasts
  • Alphabet shares jump to record as results impress

Oil Markets

  • Oil prices fall as oversupply concerns weigh
  • Brent crude futures down 0.1 pct at $72.96 a barrel (0037GMT)
  • US WTI crude futures down 0.1 pct at $67.80 per barrel

Precious metals

  • Gold prices inch lower as US treasury yields rise
  • Spot gold down 0.1 pct at $1,222.82 per ounce (0052GMT)
  • US gold futures for August delivery down 0.2 pct at $1,2222.90/oz

Grains

  • Corn prices drop 1 pct, retreat from 2-wk high
  • Most active CBOT wheat futures down 0.6 pct at $5.10-1/2 per bushel (0022GMT)
  • Most active corn futures down 1.1 pct at $3.67 per bushel
  • Most active soy futures down 0.5 pct at $8.85-1/4 per bushel
  • Most active rice futures unchanged at $11.99 per hundredweight

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

  • India’s Modi in Uganda today from Rwanda; arrived Kigali yesterday
  • Russia’s Putin expected in South Africa today for BRICS summit; China’s Xi arrived SA from Rwanda yesterday (23 Jul) and was in Senegal just before
  • South Africa finmin Nene and SARB governor Kganyago to make economic presentation at BRICS event today (1100GMT)
  • Nigeria’s central bank to decide on interest rates [fcst. 13.0%, prev. 14.0%]
  • DRC Congo could declare country ebola-free on Wednesday (25 Jul)

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

  • Soccer – Ethiopia, Eritrea set to play first match in two decades
  • BRICS bank approves $600 mln loans for South African, Chinese projects
  • Ghana leader names new election chief, opposition dismayed
  • Congo opposition leader Bemba to return next week for presidential bid
  • Barrick Gold president Dushnisky to head AngloGold
  • Africa Crude – Spot trade thin, some programmes missing
  • Suspected Boko Haram militants kill 18 in Chadian village
  • South Africa’s rand falls after state-run power entity reports losses
  • Ertrean conscripts told unlimited national service will end: sources
  • South Africa’s Eskom considering asset sales, staff cuts after big loss
  • Ghana central bank keeps policy rate at 17 pct
  • Somalia’s al Shabaab says it storms military base, kills 27 troops
  • Far from Ethiopia’s capital, change remains a distant dream
  • Migrants stranded without aid as Tunisia refuses to let ship dock
  • Kenyan shilling firmer on export earnings
  • Ugandan shilling firms due to low importer demand for dollars
  • Harnessing the enemy: as crops dry, Malawi turns to solar irrigation
  • De Beers to move 200 elephants from South Africa to Mozambique
  • South Africa’s Eskom says loan covenants triggered after irregular expenditure
  • Maroc Telecom posts 8.6 pct rise in first half net profit
  • AccorHotels, Qatar’s Katara target Africa with new fund
  • South Africa’s Eskom in talks with govt over firm’s headcount
  • Amplats reports jump in H1 earnings, buys Glencore’s stake in Mototolo platinum mine
  • South Africa’s Harmony says FY output exceeds guidance

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

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