#Africa #Markets | 17 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares gain on US-China trade talks, lira recovers
  • Turkish lira maintains gains but seen vulnerable
  • Shanghai shares barely unchanged near 2 ½-year low

Oil Markets

  • Oil prices fall amid fears over global economic growth
  • Brent crude oil futures down 5 cents at $71.38 a barrel (0050GMT)
  • US WTI crude futures down 4 cents to $65.42 a barrel

Precious metals

  • Gold inches up, but set for biggest weekly fall in 15 months
  • Spot gold up 0.3 pct at $1,177.38 an ounce (0047GMT)
  • US gold futures unchanged at $1,184 an ounce

Grains

  • Soybeans ease after rally, wheat supported by tightening world supplies
  • Most active CBOT wheat futures nearly unchanged at $5.61-3/4 per bushel (0113GMT)
  • Most active corn futures down 0.3 pct at $3.78-1/2 per bushel
  • Most active soy futures down 0.4 pct at $8.93-1/2 per bushel
  • Most active rice futures unchanged at $10.46 per hundredweight

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

  • SADC summit continues in Windhoek, as heads of state arrive for key 2 days of summit

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

  • Arson at Libyan pipeline causes fire, no significant damage – NOC
  • Egypt central bank keeps overnight interest rates steady
  • Ugandan lawmakers, others charged with treason over stoning of Museveni
  • No handshakes, no helmets in eastern Congo city preparing for ebola
  • South African rand surrenders gains as economy concerns weigh
  • Africa Crude – Diffs steady, India said to buy Nigerian at tender
  • Egypt finalising details of long-term Hamas-Israel truce – source
  • Afraid of no one and ready for a long strike, union leader tells Implats
  • South Africa’s Truworths creates COO role to boost sales as FY profit falls
  • Investors pulled $1.4 bln from emerging markets last week – IIF
  • Egypt to sell 610 mln euros in euro-denominated t-bill auction
  • South Africa’s Ramaphosa to appoint inquiry into $130 bln state pension fund
  • Gold Fields boss says not resigning after South Africa minister’s rebuke
  • US concerned about irregularities in Tanzania’s local elections – embassy
  • Most African currencies under pressure; in week ahead
  • Mali president Keita wins landslide election; faces uphill struggle
  • Somali president names new military chief in security services revamp
  • Zimbabwe court to hear election challenge on August 22
  • Kenya’s Arm Cement CEO says to leave post, to stay as board member
  • South Africa’s MTN has no plans to sell stake in online retailer Jumia
  • KCB Group to finalise Imperial Bank deal in September
  • MTN Nigeria signs 200 bln naira loan to expand network
  • South Africa union says ready to sign Eskom’s wage offer
  • Tencent shares hit by profit drop, freeze on new game approvals in China
  • South Africa’s Gold Fields posts flat H1 profit as Chile costs bite
  • After Kaombo, Total doubles down on African oil
  • Angola aims to boost oil output with new block sale agency
  • Gold Fields suffering under poor management – South Africa mines minister
  • South Africa’s Standard Bank H1 profit up 5 pct
  • South Africa’s Exxaro H1 profit lifts boosted by coal performance
  • Kenya’s KCB Group H1 pretax profit rises 16 pct

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

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