#Africa #Markets | 7 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks struggle as trade anxiety weighs
  • MSCI’s Asia-Pacific index rises 0.05 pct, Nikkei up 0.25 pct
  • Dollar index hovers at 3-wk highs amid ongoing trade concerns
  • Turkey’s lira near record low as US-Turkish tensions ramp up
  • Oil rise flags, market awaits US sanctions on Iran to kick in

Oil Markets

  • Oil markets tread water ahead of renewed US sanctions against Iran
  • US sanctions to bite from 1201 EDT Tuesday
  • Washington wants other countries to cut Iran oil orders
  • Hot weather to start affecting oil demand – JPMorgan
  • Brent crude futures down 1 cent at $73.74 per barrel (0100GMT)
  • US WTI crude futures down 8 cents at $68.93 a barrel

Precious metals

  • Gold prices crawl up on steady dollar
  • Spot gold up 0.2 pct at $1,208.06 an ounce (0051GMT)
  • US gold futures little changed at $1,217.10 per ounce

Grains

  • Soybeans firm as USDA pegs condition of the crop below forecasts
  • Most active CBOT wheat futures up 0.1 pct at $5.75 per bushel (0051GMT)
  • Most active corn futures up about 0.1 pct at $3.85-1/2 per bushel
  • Most active soy futures up 0.5 pct at $8.98-1/4 per bushel
  • Most active rice futures up 0.1 pct at $11.29 per hundredweight

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

  • South Africa manufacturing production data for Jun-18 due [fcst. 2.4 % yy, prev. 2.3%]
  • Ivory Coast national day today

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

  • Congo ebola vaccine teams set up fridges, 43 cases suspected
  • Ivory Coast’s Ouattara grants amnesty to wife of ex-leader Gbagbo
  • Ghanaian president sacks energy minister, gives no reason
  • Security forces in eastern Ethiopia kill four protesters – witness
  • Africa Crude – Diffs hold steady, surplus may wash into Europe
  • South Africa’s rand retreats in global risk-off, stocks fall
  • Zimbabwe opposition says supporters abducted as 27 appear in court
  • Egypt’s foreign debt rises to $88.2 bln in Q3 of FY2017-2018
  • Safaricom CEO defends company’s dominance as he returns to work
  • Kenya’s central bank seesk to have credit scores used in loans
  • South African sugar maker Tongaat CEO retires
  • Tanzania wants to build pipeline to pump gas to Uganda
  • Kenyan shilling firm on tight liquidity in money markets
  • South Africa’s Absa H1 profit down 4 pct
  • South Africa’s Royal Bafokeng Platinum narrows H1 loss

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

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