#Africa #Markets | 26 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks inch up after Trump, Juncker pledge cuts to trade barriers
  • Markets still cautious amid ongoing Sino-US trade tensions
  • MSCI Asia ex-Japan up 0.2 pct, Nikkei down 0.2 pct

Oil Markets

  • Oil rises after Saudi Arabia suspends shipments through Red Sea lane following attack
  • Brent crude futures up 0.9 pct at $74.59 a barrel (0019GMT)
  • US WTI crude futures up 22 cents at $69.52 a barrel

Precious metals

  • Gold edges up as dollar eases after US-Eu trade agreement
  • Spot gold up 0.2 pct at $1,233.26 an ounce (0102GMT)
  • US gold futures for August delivery up 0.2 pct at $1,233.60 an ounce

Grains (25 Jul)

  • US wheat futures rally; corn, soybeans end firm
  • CBOT July soft red winter wheat futures settled up 32-1/2 cents at $5.42-3/4 a bushel
  • CBOT September corn futures ended 7-1/4 cents higher at $3.59-1/4 a bushel
  • CBOT November soybean futures rose 2-1/2 cents to $8.75-3/4 a bushel

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

  • BRICS Summit continues today; all heads of state to be in attendance
  • South Africa producer inflation data for Jun-18 due [fcst. 5.4% yy, prev. 4.6%]

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

  • Nigeria grazing violence kills many more than Boko Haram, poses serious security threat – thinktank
  • US lifts restrictions on $195 mln in military aid for Egypt – official
  • South Sudan terminates petroleum licence talks with Total
  • Zimbabwe’s African Chrome Fields eyes equity sale to fund expansion
  • South Sudan govt, main opposition group sign peace deal
  • Somalia announces first prosecution for female genital mutilation
  • Africa Crude – Nigerian seen weaker, Angolan steady
  • South African gold producers urge unions to narrow demands as third set of wage talks
  • Chaotic Congo basks in rare success after quashing ebola
  • Bodies buried, Congo turns to next ebola outbreak
  • Hundreds of artists join festival in Algerian region hit by civil war
  • Egypt’s economy grows 5.3 pct, highest in 10 yrs – minister
  • South African rand firmer on China high, stocks falter
  • Tullow shuts down Kenyan oilfield operations due to unrest
  • South Africa orders probe into $150 bln state pension fund – treasury
  • Xi urges fellow BRICS countries to reject go-it-alone trade
  • Power to the pupils: solar panels keep Kenya’s kids in school
  • Arab gunmen shut down Mali’s Timbuktu days before vote
  • Kenyan shilling firmer on remittances inflows
  • Control station at Libya’s El Sharara oilfield back on, output unclear
  • Ugandan shilling weaker on lower demand in the interbank market
  • Egypt seeks help from banks to ease risk of oil price fluctuations
  • Base Resources posts record quarterly rutile production in Kenya
  • Tullow to use $401 mln cash pile to invest, reduce debt, not dividends
  • Architects and urban planners champion African design influence from Wakanda to White House
  • Beheadings in Mozambique mark Islamist threat in new gas frontier
  • Court reinstates Kenya Re’s chief executive – Business Daily
  • Dubai’s DP World to build logistics hub in Mali

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

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