#Africa #Markets | 14 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia tries to find its footing, China disappoints
  • Nikkei bounces 1.1 pct after Wall St losses limited
  • Chinese data mostly softer than forecast
  • Turkish lira holds for the moment, but crisis not over
  • Euro finds support, yen and Swiss franc favoured
  • Gold loses safe-haven status, near 13-mth low

Oil Markets

  • Oil prices edge up as Saudi cuts output, but looming demand slowdown drags
  • Brent crude oil futures up 0.4 pct at $72.87 per barrel (0111GMT)
  • US WTI crude futures up 0.5 pct at $67.52 per barrel

Precious metals

  • Gold stabilises as dollar pulls back from 13-mth high
  • Spot gold up 0.1 pct at $1,194.13 an ounce (0106GMT)
  • US gold futures up 0.1 pct at $1,200.5 an ounce

Grains

  • Wheat rebounds from 3-wk low on USDA crop condition report
  • Most active CBOT wheat futures up 0.7 pct at $5.37-1/4 per bushel (0316GMT)
  • Most active corn futures up 0.1 pct at $3.71 per bushel
  • Most active soy futures down 0.3 pct at $8.66 per bushel
  • Most active rice futures up 1.6 pct at $10.47 per bushel

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

  • Nigeria inflation data for July expected [fcst. 11.0% yy, prev. 11.2%]
  • South Africa mining production data for June due [fcst. -3.1% yy, prev. -2.6%]
  • Angola to host central and southern Africa heads of state today; DRC key agenda
  • South Africa’s Ramaphosa to announce new state prosecutor
  • Kenya’s Kenyatta cabinet meeting today; reshuffle may be on the cards
  • 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]

  • Kudu gas project might not be viable for Namibia – Energy minister
  • Uganda govt critic alleges police shot dead his driver
  • Israeli PM Netanyahu met Egypt’s al-Sisi to discuss Gaza – Channel Ten News
  • Tunisian president proposes inheritance equality for women, with exceptions
  • At least 40 killed by paramilitaries in eastern Ethiopia
  • Aid worker killings rise, fuelled by conflict in South Sudan, Syria
  • Egypt voices concern over Red Sea security after Houthi attack
  • Low turnout in Mali election due to security fears, opposition charges fraud
  • Africa Crude – Surplus pushes diffs to 6-wk lows
  • Mali election hit by low turnout due to security fears, apathy – monitors
  • Evicted from Maltese cowshed, African migrants left homeless
  • South Africa’s rand falls to 2-yr low as Turkey rout spreads
  • Mozambique police name “ringleader” behind Islamist threat
  • Spanish rescue boat finds life and death off coast of Libya
  • South Africa’s central bank “nowhere near” intervention on rand – deputy gov
  • South Africa high-speed train workers end 2-wk strike
  • Cyclists take on “land of a thousand hills” in Tour du Rwanda
  • Mnangagwa urges Zimbabweans to move on after post-election unrest
  • Egypt raid kills six suspected militants, interior ministry says
  • Uganda shilling weaker as energy and manufacturing sector demand weighs
  • Uganda central bank holds key lending rate at 9.0 pct, says exchange rate vulnerable
  • South Africa’s top court orders Zuma-appointed chief prosecutor to leave post
  • Jihadist threats kept many polling places shut in Mali election
  • Fatal crashes reveal plight of Italy’s African labourers
  • Kenya charges top officials with fraud over new $3 bln railway
  • Egypt strategic sugar reserves at 6 mths – supply ministry
  • South Africa top court: Zuma-appointed chief prosecutor appointment “invalid”
  • Telecom Egypt to raise $500 mln syndicated loan led by UAE banks

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

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