#Africa #Markets | 25 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks track Wall Street gains, US-EU meet keeps trade in focus
  • MSCI Asia-Pacific index up 0.2 pct, Nikkei rises 0.5 pct
  • Trump-Juncker meeting on trade awaited for cues
  • Commodities buoyant amid prospect of increased China demand

Oil Markets

  • Oil prices rise for second day, buoyed by fall in US inventories
  • Brent crude futures up 0.4 pct at $73.73 a barrel (0035GMT)
  • US WTI crude futures up 0.3 pct at $68.74 a barrel

Precious metals

  • Gold prices edge up on softer dollar
  • Spot gold up 0.2 pct at $1,226.13 an ounce (0051GMT)
  • US gold futures for August delivery up 0.1 pct at $1,226.10 per ounce


  • Wheat firms as dry weather stokes production fears
  • Most active CBOT wheat futures up 0.4 pct at $5.12-1/2 a bushel (0040GMT)
  • Most active corn futures up 0.1 pct at $3.66-1/2 per bushel
  • Most active soy futures nearly unchanged at $8.73 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]

  • Russia’s Putin & India’s Modi expected in South Africa today for BRICS summit; China’s Xi arrived SA from Rwanda on 23 Jul and was in Senegal just before

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

  • Tunisia PM says changing the govt now will hurt the economy
  • Former Congolese warlord Bemba makes his case to stand in presidential vote
  • Defections hit Nigeria ruling party in blow to Buhari ahead of election
  • Tunisia plans to reduce its budget deficit next year to 3.9 pct
  • Ivory Coast cashew sales slump on low world prices
  • Karo launches $4.2 bln Zimbabwe project, has several funding options
  • Egypt’s Sisi opens power stations in state development drive
  • Africa’s richest man arranges $4.5 bln of financing for oil refinery
  • Egyptian security forces kill 13 suspected militants in shootout in Sinai
  • India offers Uganda credit to boost energy, agriculture
  • Egyptian art school helps poor children swing into a better future
  • Africa Crude – Nigerian weaker, Angolan steady
  • South Africa recalls China generic heart drug on cancer fears
  • South Africa’s rand firms on Chinese investment, stocks rally
  • China’s Xi pledges $14.7 bln investment on South Africa visit
  • Central banks says to start talks with KCB Bank on Imperial Bank sale
  • Congo declares ebola flare-up over after rapid response
  • Nigeria’s central bank holds benchmark interest rate at 14 pct
  • South Africa’s weather service sees el nino risk increasing
  • Threat from Trump trade wars gives fresh purpose to BRICS bloc
  • China’s ICBC gives South Africa’s Transnet $300 mln loan during Xi visit
  • Medical aid group MSF suspends work in part of South Sudan after office overrun
  • Algeria in talks with oil firms to set up trading venture
  • Danakali seals off-take deal for potash project in Eritrea – Information minister
  • UAE hails Ethiopia, Eritrea leaders after rapprochement
  • Nigeria’s Senate president says high chance will Buhari’s ruling party
  • Swiss firm Quantum Global bids to lift Angolan SWF asset freeze
  • Central Mali airport hit by shelling days before election
  • Tunisia will not deport Islamist suspect back to Germany – official
  • Fifteen Nigerian senators defect from ruling APC party – Senate president’s aide
  • Rwandan cement maker expects market to stabilise after plant upgrade
  • Egypt hikes gas prices by up to 75 pct in IMF-backed austerity plan
  • Kenyan shilling holds steady against the dollar
  • Reports of voter intimidation, coercion ahead of Zimbabwean poll – UN
  • Uganda shilling stronger on remittances and fish exporter flows
  • Rwanda signs $300 mln in loan deals with China and India
  • PZ Cussons sees challenging year as profit drops on weak Nigeria sales
  • South Africa’s Vodacom Q1 revenue boosted by increase in customers

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

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