#Africa #Markets | 13 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares, euro trampled as Turkish rout spreads
  • Turkish lira hits new lows, govt promises it has a plan
  • Selling spreads to South African rand, Argentine peso
  • Euro slips as safe haven yen, Swiss franc, dollar bid
  • Asian stocks fall further, emerging markets under pressure

Oil Markets

  • Oil edges up on Iran sanctions, but trade tensions drag
  • Brent crude oil futures up 7 cents at $72.88 per barrel (0053GMT)
  • US WTI crude futures up 16 cents at $67.79 per barrel

Precious metals

  • Gold prices subdued as dollar stands firm near 13-mth high
  • Spot gold slips 0.1 pct at $1,209.53 an ounce (0102GMT)
  • US gold futures down 0.2 pct at about $1,216.80 an ounce

Grains

  • Soybeans fall nearly 1 pct to 3-wk low
  • Most active CBOT wheat futures unchanged at $5.46-3/4 per bushel (0108GMT)
  • Most active corn futures down 0.7 pct at $3.69 per bushel
  • Most active soy futures down 0.8 pct at $8.54-3/4 per bushel
  • Most active rice futures unchanged at $10.55 per hundredweight

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

  • SADC summit ongoing [Council of ministers meet today]
  • Uganda central bank decision tomorrow (14 Aug) [fcst. 9.0%, prev. 9.0%]
  • Nigeria inflation data for July due on 14 Aug [fcst. 11.0% yy, prev. 11.2%]
  • South Africa mining production data for June expected on 14 Aug [fcst. -3.1% yy, prev. -2.6%]
  • South Africa retail sales data due on 15 Aug [fcst. 2.0% yy, prev. 1.9%]
  • Bank of Namibia MPC decision on 15 Aug [fcst. 6.75%, prev. 6.75%]

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

  • Hippo kills Taiwan tourist visiting Kenyan lake
  • Mali votes in run-off amid heavy security to counter militant threat
  • Protesting Nigerian troops fire into air at northeastern airport
  • Eastern Libyan oil firm AGOCO producing 190,000 bpd – official
  • Egypt arrests seven alleged militants tied to failed church bombing
  • Court jails Egyptian Muslim Brotherhood leader for life – sources
  • Ethiopian rebels declare ceasefire amid govt reforms
  • Egyptian forces kills 12 suspected militants in Sinai – agency
  • Former monk held on charges of killing bishop at Egyptian monastery
  • Egypt security forces thwart church bombing – state tv
  • Kenya arrests two top officials for suspected corruption over new $3 bln railway
  • Four new Congo ebola cases as medics prepare experimental treatment
  • Cameroon probes video showing security forces apparently executing civilians
  • Zimbabwe’s Chamisa challenges election result; inauguration halted
  • Zimbabwe ruling party confident Chamisa has no case after election challenge
  • South Africa’s rand weakens nearly 3 pct as emerging market currencies slip
  • Zimbabwe Mnangagwa inauguration deferred after court challenge – justice minister
  • Africa Crude – Nigerian diffs sink as cheap alternatives weigh
  • Ethiopian Airlines frontrunner in tender for planned Nigerian airline – CEO
  • Zimbabwe’s opposition leader Chamisa wants court to declare him winner or call fresh election – lawyer
  • Ethiopian Airlines net profit up in FY 2017/18 – CEO
  • Sudan’s ruling party backs Bashir for 2020 election – SUNA
  • Malawi tobacco revenue rises 35 pct
  • Kenyan shilling steady on debt inflows
  • Ugandan shilling weakens as commercial banks exert demand
  • UAE to build oil pipeline between Eritrea and Ethiopia – Fana Broadcasting
  • Kenya’s Safaricom resists tariff cuts to avoid price war
  • Kenya parliament rejects committee’s call to probe ministers over sugar imports – papers
  • Kenya’s Safaricom wants to avoid price war after competitor Airtel cuts call rates
  • Refugees sow crops with Kenyan hosts – and reap integration
  • Tunisia’s tourism revenues jump by 42 pct until July 31
  • Ghana replaces sacked energy chief in reshuffle of huge cabinet
  • Zimbabwe opposition leader charged over post-election violence
  • US concerned about Zimbabwe violence, opposition leader return
  • Blockchain firm Soluna to build 900MW wind farm in Morocco – CEO
  • Suspected Boko Haram militants kill at least 15 soldiers and disaster worker – sources
  • World powers praise Congo’s Kabila for agreeing to bow out
  • Zimbabwe opposition leader Biti charged with role in post-election violence
  • Uganda leader says South Sudan refugees should return by January
  • Mali opposition leaders refuse to back challenger in presidential run-off
  • Vedanta suspends operations at Zambian unit after worker killed in accident
  • Egypt’s core inflation falls to 8.54 pct in July – central bank
  • Nigerian stocks drop to 9-mth low on mixed earnings, political risk
  • Nigeria’s Notore drops 8.8 pct in one week after debut listing
  • UN gravely concerned at Zambia’s refusal of asylum for Zimbabwe’s Biti
  • When bits meet bites: Kenya’s farm-to-fork online delivery cuts waste, boosts earnings
  • Ethiopian Airlines to fly seafood from Norway to China
  • South Sudan president Kiir grants Machar, other rebels amnesty
  • South Africa’s Eskom reaches “in principle” wage deal with unions
  • Kenya seeks to raise 40 bln shillings with 10-yr bond in August
  • Egypt’s annual urban consumer price inflation eases to 13.5 pct in July – CAPMAS
  • In peace between Ethiopia and Eritrea, UAE lends a helping hand
  • Egypt students design car that runs on air
  • Congo’s Kabila will not stand for election in December
  • Uganda police urged to act after series of attacks on charities
  • Suspected al Shabaab militants kill five soldiers in Kenya’s Lamu – county official
  • Libya’s sovereign wealth fund to move offices over abductions, threats
  • Tanzania plans to suspend Naspers’ Multichoice telecoms licence
  • Naspers’ unit Mulitchoice concerned about Tanzania suspension notice
  • Congo starts vaccinating health workers against ebola
  • Nigeria Senate president urges parliamentary blockade probe
  • Campaign on fistula brings renewed hope for rural Nigerian women
  • Sanctions make it harder for South Africa’s MTN to repatriate Iran cash
  • Former Nairobi governor arrested on corruption allegations
  • Nigeria approves $150 mln World Bank loan to fight polio
  • Ivory Coast’s Simone Ggagbo leaves detention after amnesty
  • Congo’s Kabila to step down ahead of presidential election
  • Kenya arrests suspect in killing of black rhino
  • Glencore says mining industry considers legal action on new DRC mining code
  • Internet in eastern Ethiopia shut down after regional violence
  • African migrants protest in Italy after road deaths
  • South Africa’s business confidence index rises in July
  • Uganda’s Stanbic Bank pre-tax profit rise, sees credit growth
  • South Africa’s Murray & Roberts drops Aveng merger plan
  • Tullow Oil, Kenya agree to resume oilfields activity
  • South Africa plastics company Mpact H1 profits falter, shares fall
  • South Africa’s MTN H1 profit down 7 pct

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

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