#Africa #Markets | 27 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares post modest gains as trade fears keep investors cautious
  • Ex-Japan Asian shares dip, China shares down 0.5 pct
  • Despite EU-US trade agreement, Sino-US outlook negative
  • Yuan near 13-mth low, euro dips after ECB

Oil Markets

  • Oil markets inch down after 3 days of gains
  • Brent crude futures down 6 cents at $74.48 a barrel (0043GMT)
  • US WTI crude futures down 6 cents at $69.55 per barrel

Precious metals

  • Gold prices inch up, investors shift focus to upcoming US economic data
  • Spot gold up 0.04 pct at $1,222.70 an ounce (0102GMT)
  • US gold futures down 0.3 pct at $1,222.10 an ounce


  • Wheat falls from 2-mth high, set to finish week up nearly 4 pct
  • Most active CBOT wheat futures down 0.1 pct at $5.35-3/4 per bushel (0016GMT)
  • Most active corn futures down 0.5 pct at $3.74 per bushel
  • Most active soy futures down 0.1 pct at $8.74-3/4 per bushel
  • Most active rice futures down 0.1 pct at $11.99 per hundredweight

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

  • Final day of BRICS summit in South Africa; presidents of Zimbabwe, Rwanda, and others in town
  • South Africa’s Zuma in court today on myriad corruption charges
  • Zimbabwe election on Sunday, 29 July

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

  • Uganda court validates law allowing Museveni to seek re-election
  • Ethiopian Nile dam manager found shot dead, crowds call for justice
  • Chad health centres overwhelmed with spike in malnourished children
  • Jailed Senegalese opposition leader vows to run for president
  • China’s Citic Dicastal to produce aluminium car wheels in Morocco
  • Clashes rock Timbuktu as Malian election looms
  • Ghana sells $98 mln of local bonds at 18 pct yield
  • Russia’s Putin raises nuclear deal at Ramaphosa meeting during BRICS
  • US warns Congo’s Kabila that ‘time for posturing is over’
  • Africa Crude – Nigeria struggles with oversupply; arbitrage helps Angolan
  • South Africa’s rand falls as dollar bulls return; stocks higher
  • More than 100 South African gold miners treated for smoke inhalation
  • Ramaphosa to Putin: weak economy means South Africa can’t sign nuclear deal yet
  • Naspers considers Hong Kong, New York listing of some e-commerce units
  • Only rhino to survive Kenyan relocation is attacked by lions
  • US trade chief eyes deals on NAFTA, Philippines, sub-Saharan Africa
  • Russia’s Rosatom “still interested” in nuclear power generation in South Africa
  • Nigeria’s 9mobile takeover nears as regulator finalises review
  • South Africa authorities clear SA Express to resume limited flights
  • BRICS emerging economies reaffirm support to multilateral trade under WTO
  • Google launches free Wi-Fi hotspot network in Nigeria
  • Nigerian regulator assessing Teleology takeover of 9mobile – sources
  • Kenyan car and hotels firm Simba Corp eyes Ethiopia
  • Vedanta Africa base metals halts work at Zambia mine after miner killed
  • Foreign holdings of Egyptian treasuries $17.5 bln at end-June – minister
  • Kenya blames negligence for death of 10 endangered black rhinos – minister
  • Egypt to raise 8-10 bln EGP by floating shares in state firms in FY 2018-19
  • Kenyan lender CBA upgrades app to offer highest mobile phone loan
  • Egypt budget deficit narrows to 9.8 pct in FY 2017/18 – minister
  • Kenyan shilling firm, dollar demand muted
  • Somalia announces first prosecution for female genital mutilation
  • South Africa cannot afford major nuclear expansion – top ANC official
  • South Africa’s ruling party wants private investment in Eskom
  • South Africa’s Nedbank sees up to 28 pct rise in H1 profit
  • Nigeria grazing violence kills many more than Boko Haram, poses serious security threat – think-tank

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

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