#Africa #Markets | 16 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares hit 1-yr low on Turkey, China worries
  • MSCI Asia ex-Japan hits lowest since Aug 2017
  • Tencent’s earnings shock sour investor sentiment

Oil Markets

  • Oil edges up as China, US set for talks to resolve trade disputes
  • Beijing to send delegation to Washington in late August
  • But oil market sentiment remains cautious overall
  • Weak Asian markets start to eat away at crude demand
  • Brent crude oil futures up 0.6 pct at $71.17 per barrel
  • US WTI crude futures up 0.2 pct at $65.11 per barrel

Precious metals

  • Gold prices sink to 19-mth low amid strong dollar
  • Spot gold down 0.8 pct at $1,164.71 an ounce (0055GMT)
  • US gold futures down 1.1 pct at $1,172.7 an ounce

Grains

  • Corn eases for second day on supply pressure
  • Most active CBOT wheat futures up 0.1 pct at $5.52 per bushel (0112GMT)
  • Most active corn futures down 0.1 pct at $3.75-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.70-1/2 per bushel
  • Most active rice futures down 0.1 pct at $10.32 per hundredweight

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

  • SADC summit continues; heads of state meet 17-18 August

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

  • South Africa’s Transnet CEO and officials face suspension – chairman
  • Israel lets food, commercial goods back into Gaza as Egypt seeks truce
  • Arbitration move by South Africa’s Eskom threatens to delay wage deal
  • Egypt to export gas starting January, says minister – El Watan
  • Egypt to offer shares in new cement plant on stock market – president
  • Ugandan MP beaten up after president’s convoy stoned – opposition
  • Tullow Oil expects to hit full output capacity at Ghana TEN field by 2020
  • Soccer – Nigeria’s Moses announces international retirement
  • Former Gunvor employee to take plea deal in Congo bribery case – lawyers
  • Tunisian tourism revival drives economic pickup in second quarter
  • Africa Crude – Trade slows ahead of October loading programmes
  • Nigerian stocks extend losses as emerging markets tumble
  • South Africa’s parliament considers tougher anti-smoking bill
  • Kenya’s Java House signs coffee and tea export deal with Chinese company
  • South African rand slumps after Moody’s warning, stocks tumble
  • Algeria signs gas supply deals with Spain, Italy’s Eni – Sonatrach CEO
  • South Africa hikes sugar import duties to protect local industry
  • South Africa’s ANC chairman wants state to seize land from those with over 12,000 hectares
  • South Africa dollar bonds fall after Moody’s warning
  • Marked for demolition? Ugandans on pipeline route fear land loss
  • Kenya central bank to hold its next rate-setting meeting on Sept 24
  • Nigeria inflation dips in July but remains above single-digit target
  • Morocco needs more reforms before new currency liberalisation, bankers say
  • Moroccan insurer Wafa Assurance warns on first-half profits
  • South Africa retail sales up 0.7 pct y/y in June
  • First-half diamond sales down 16 pct at Botswana’s Okavango
  • Egypt sells 610 mln euros in euro-denominated t-bill auction
  • Zimbabwe’s Mnangagwa moves to stop Chamisa’s election court challenge
  • Kenyan shilling holds steady against the dollar
  • South Africa’s economic recovery to be “weak and choppy” – cbank
  • South Africa’s VAT hike had muted inflation impact – cbank
  • Egypt unemployment rate falls to 9.9 pct in Q2 – CAPMAS
  • South Africa’s 2018 growth to be “much lower” than initial forecasts – cbank

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

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