#Africa #Markets | 22 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares flat as drop in S&P 500 futures weighs
  • MSCI’s Asia-Pacific index ex-Japan flat, Nikkei down 0.2 pct
  • Australian shares down 0.5 pct after Turnbull challenge

Oil Markets

  • Oil rises on US crude inventories, Iran sanctions worries
  • US crude stocks fall 5.2 mln barrels to 405.6 mln – API
  • Market weigh potential oil supply cut from Iran sanctions
  • US, China trade dispute raises demand growth concerns
  • Brent crude oil futures up 0.25 pct at $72.80 per barrel (0109GMT)
  • US WTI crude futures up 0.4 pct at $66.10 per barrel

Precious metals

  • Gold hits 1-wk high as dollar sags on Trump’s Fed attack
  • Spot gold up 0.2 pct at $1,197.66 (0030GMT)
  • US gold futures up 0.3 pct at $1,203 an ounce

Grains

  • Wheat edges higher, rebounds from 8-day low
  • Most active CBOT wheat futures up 0.2 pct at $5.48-3/4 per bushel (0052GMT)
  • Most active corn futures down 0.3 pct at $3.73-1/4 per bushel
  • Most active soy futures down 0.3 pct at $8.83 per bushel
  • Most active rice futures down 0.1 pct at $10.53 per hundredweight

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

  • Zimbabwe constitutional court to rule on opposition presidential election petition today
  • South Africa’s state capture commission hearings continue
  • South Africa inflation data for July due [fcst. 4.7% yy, prev. 4.6%]
  • South Africa’s Ramaphosa to answer questions in parliament today

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

  • Canadian refugee ruling unfair to Nigerians – lawyers
  • Ugandan lawmaker, whose arrest sparked protests, beaten in detention – lawyer
  • IMF to begin talks with Angola on financial support
  • With sensors and apps, young African coders compete to curb hunger
  • Ex-Comoros president charged with graft in connection to passports scheme
  • South Africa’s parliament summons former Steinhoff CEO over accounting scandal
  • South African poultry group targets US import quota
  • South Africa’s rand firms as dollar hit by Trump Fed comments
  • Africa Crude – Nigerian weaker, Angolan October cargoes on offer
  • South African retailer Pepkor’s sales rise 13.8 pct
  • South African gold sector wage negotiations deadlock – union
  • Zimbabwe says “hostility of the West” putting off renewed investment
  • South Africa’s Shoprite logs first annual profit drop in 19 years
  • South Africa’s new coal-fired plants must have emissions technology
  • Russia signs military deal with the Central African Republic – agencies
  • Cameroon gaming stars train new generation of business superheroes
  • Profit drops, mining deaths spike at South Africa’s Harmony Gold

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

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