#Africa #Markets | 15 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks retreat as Turkey worries weigh, dollar buoyant
  • MSCI Asia-Pacific index down 0.8 pct, Nikkei drops 0.4 pct
  • Turkish woes linger; safe-haven dollar rise to 13-mth high
  • Stronger dollar pressures commodities, gold hits 18-mth low

Oil Markets

  • Oil prices fall on rising US crude inventories, darkening economic outlook
  • US crude stocks down by 3.7 mln barrels to 410.8 mln – API
  • World trade growth peaked in January – analysts
  • Brent-crude oil futures down 0.4 pct at $72.14 per barrel (0021GMT)
  • US WTI crude futures down 0.5 pct at $66.70 per barrel

Precious metals

  • Gold prices slip to 18-mth low on sturdy dollar
  • Spot gold down 0.1 pct at $1,192.11 an ounce (0110GMT)
  • US gold futures down 0.1 pct at $1,199.1 an ounce

Grains

  • Soybeans edge lower as ample global supplies weigh
  • Most active CBOT wheat futures down 0.3 pct at $5.40 per bushel (0134GMT)
  • Most active corn futures unchanged at $3.76-1/2 per bushel
  • Most active soy futures down 0.1 pct at $8.78-1/2 per bushel
  • Most active rice futures down 0.3 pct at $10.17 per hundredweight

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 retail sales data for June due [fcst. 2.0% yy, prev. 1.9%]
  • Bank of Namibia interest rate decision today; likely unchanged at 6.75%
  • SADC summit ongoing
  • Nigeria legislature, though in recess, may be one to watch today

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

  • Congo deploys experimental ebola treatment as cases rise
  • Nigeria’s acting president orders overhaul of controversial police unit
  • Nigerian police detain journalist for not revealing source, paper says
  • Sudan hit by bread shortages as currency crunch escalates
  • Africa Crude – Overhang keeps Nigerian cargoes under pressure
  • Mali president claims election victory amid fraud accusations
  • Nigeria’s GT Bank sees 10 pct loan growth this year
  • South Africa’s rand rebounds as Turkey-led rout eases, stocks falter
  • Mali president won election, count by his camp shows – spokesman
  • Malta lets rescue ship dock after EU states agree to take migrants
  • South Africa’s Ramaphosa appoints acting chief prosecutor after court ruling
  • Lazard drafting plan to bolster balance sheet of South Africa’s Eskom – sources
  • Nigeria’s state oil company considers refinery partnerships
  • EU observers saw irregularities but no fraud during Mali vote
  • Bank of Ghana plans to prosecute executives of failed banks
  • Uganda police arrest three MPs after stones thrown at Museveni’s convoy
  • Uganda shilling strengthens as interbank demand ebbs
  • As forgivenesss sweeps Ethiopia, some wonder about justice
  • Nigeria’s total debt rose to 22.37 trln naira by H1, debt office says
  • South Africa’s Gold Fields plans to cut jobs in mine restructuring
  • South Africa’s Ramaphosa proposes new sovereign wealth fund – party officials
  • Soccer – Nigeria and Ghana could face bans over interference – FIFA
  • South Africa’s mines minister concerned about Gold Fields job cuts
  • Ethiopia frees on bail police suspected of negligence in PM rally blast
  • South Africa’s mining output up 2.8 pct y/y in June
  • Kenyan shilling little changed, activity subdued
  • South Africa probes state attorneys as Ramaphosa graft crackdown widens
  • Ugandan drugmaker Cipla prices IPO at 256.5 shillings per share
  • Congo starts using experimental mAB114 ebola treatment
  • Ethiopia plans to build new airport in Oromia region – Fana

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

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