#Africa #Markets | 8 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares extend recovery on earnings, China policy hopes
  • Strong US earnings, hopes of China policy support lift shares
  • Wall Street volatility gauge hits 7-mth low
  • Trade disputes, waning impact of US tax cuts cast shadow

Oil Markets

  • Oil prices steady on falling US crude stocks, Iran sanctions
  • Brent crude oil futures down 2 cents at $74.63 a barrel (0012GMT)
  • US WTI crude futures up 4 cents at $69.21 per barrel

Precious metals

  • Gold steady as dollar softens versus stabilizing yen
  • Spot gold unchanged at $1,210.91 an ounce (0043GMT)
  • US gold futures up 0.1 pct at $1,219.4 an ounce

Grains

  • Soybeans fall from 6-day high as trade war escalates
  • Most active CBOT wheat futures up 0.3 pct at $5.69-3/4 per bushel (0039GMT)
  • Most active corn futures down 0.1 pct at $3.84 per bushel
  • Most active soy futures down 0.5 pct at $9.01-1/2 per bushel
  • Most active rice futures down 0.1 pct at $10.90 per hundredweight

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

  • SADC summit ongoing

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

  • Egypt says it supports Saudi Arabia in rights row with Canada
  • Latest Congo ebola outbreak is Zaire strain, vaccinations to start
  • Morocco agrees to accept US poultry – USTR, USDA
  • Mozambique finalises block 5 oil deals with multinational firms
  • Nigeria security agents blockade parliament, chief later fired
  • Congo ruling coalition’s presidential candidate to be announced “in the coming hours”
  • Nigeria’s First Bank redeems $300 mln eurobond before maturity
  • Congo police and opposition supporters clash in Kinshasa
  • Africa Crude – Trade in Nigerian oil picks up, but only as sellers cut prices
  • Kenya, US mark 20 years since al Qaeda’s first major attack
  • Russia holds funerals of three journalists killed in Central Africa
  • Ethiopian govt signs deal with Oromo rebels to end hostilities
  • Nigeria’s Diamond Bank expects to conclude sale of UK unit this year
  • Nigeria’s Zenith Bank sees return to loan growth this year
  • In Mogadishu, imported dairy cows jumpstart local milk industry
  • Nigeria’s acting president sacks state security chief – spokesman
  • Kenya’s competition watchdog says no need for action on Safaricom
  • Zimbabwe court bails opposition members accused of post-election violence
  • South Africa’s Nedbank sticks to FY profit outlook
  • Angola’s net reserves rise to $13.68 bln in July
  • Tribal chiefs face reckoning over rights to South Africa’s rural homelands
  • Uganda shilling a touch stronger on commodity flows, low demand
  • Tight liquidity hits Kenyan govt debt auctions
  • Kenyan shilling firm on investor inflows
  • South Africa’s June manufacturing output up 0.7 pct
  • South Africa’s AMCU union warns of industrial action at Implats over job cuts
  • Tunisia annual inflation eases to 7.5 pct in July
  • South Africa’s net foreign reserves fall to $42.44 bln in July
  • China’s Xi congratulates Zimbabwe’s Mnangagwa after disputed vote

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

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