#Africa #Markets | 27 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares rise after record highs on Wall Street
  • MSCI Asia-Pacific ex-Japan up 0.1 pct
  • Japan’s Nikkei up 0.6 pct
  • Seoul’s Kospi flat

Oil Markets

  • Oil stable as US-Sino trade row weighs, Iran sanctions cut supply outlook
  • Brent crude oil futures down 7 cents at $75.75 per barrel (0122GMT)
  • US WTI crude futures down 9 cents at $68.63 a barrel

Precious metals

  • Gold prices up as Fed chair’s sppech weighs on US dollar
  • Spot gold up 0.1 pct at $1,206.57 an ounce (0105GMT)
  • US gold futures almost flat at $1,213 an ounce

Grains

  • Soybeans fall on outlook for record US crop, wheat eases for 6th day
  • Most active CBOT wheat futures down 0.4 pct at $5.34-1/4 per bushel (0019GMT)
  • Most active corn futures down 0.2 pct at $3.62 per bushel
  • Most active soy futures down 0.9 pct at $8.47-1/2 per bushel
  • Most active rice futures unchanged at $10.79 per hundredweight

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

  • Kenya’s Kenyatta in the US for talks with Trump
  • Nigeria Q2 GDP data expected today [fcst. 1.56% yy, prev. 1.95%]

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

  • Emerging market fund managers hunt for bargains after Turkey contagion
  • Zimbabwe’s president takes oath as US censure hangs over vote
  • Zimbabwe’s Mnangagwa urges compatriots to unite, focus on economy
  • US observers: Zimbabwe has no democratic culture where citizens can vote freely
  • Ethiopia’s 2020 vote will be free, won’t be delayed by reforms – PM
  • World Bank to give Ethiopia $1 bln in budget help – prime minister
  • Islamic State claims responsibility for western Libya checkpoint attack
  • Four militants killed trying to attack Egyptian police checkpoint – agency
  • Tanzania central bank cuts discount rate to 7 pct
  • Zimbabwe’s Chamisa rejects court judgement confirming Mnangagwa as president
  • South Africa’s Vodacom launches 5G internet service in Lesotho
  • Hotel equipment where British tourists died is safe – Egyptian prosecutor
  • IMF says talks with Zambia on possible aid package still on hold
  • Congo rejects presidential bid of opposition leader Bemba
  • Top Zimbabwe court confirms Mnangagwa’s presidential election victory
  • Egypt orders detention of ex-diplomat, opposition figures – MENA news agency
  • Nigeria’s central bank boosts FX sales to ease pressure on naira
  • Nigeria’s central bank to stimulate lending, buy corporate bonds to boost growth
  • Former UN chief Kofi Annan to be buried in Ghana on Sept 13 – president
  • Missing tanker docks in Togo after suspected hijacking
  • Fighters from new rebel group attack Chad soldiers at Libya border
  • Africa Crude – Nigerian overhang clearing, Angolan market strong
  • South African bond selloff resumes as Turkey contagion stokes local risks
  • South Africa’s rand recovers as dollar weakens; stocks up
  • Thomas Cook evacuates 300 from Egyptian hotel after couple’s death
  • “Critical worsening” of conditions for migrants detained in Libya – UNHCR
  • Doctor in eastern Congo contracts Ebola in “dreaded” scenario – WHO
  • Nike stores in South Africa reopen following backlash over racist video
  • Rights of detained Ugandan lawmaker “blatantly violated” says report
  • Foreign oil, gas investments in Egypt hit $10 bln in 2017-18 – minister
  • Kenya’s Finserve to tap into Africa’s e-commerce, remittances market
  • Zimbabwe’s president calls for peace after court upholds vote win
  • Zimbabwe’s MDC to act within the law after court ruling on presidential vote
  • South African former minister tells inquiry Guptas threatened to kill him
  • Kenya parliamentary committee proposes keeping upper limit of lending rate – document
  • Ethnic unrest tarnishes new Ethiopian leader’s reforms
  • Kenya’s Maasai mark rite of passage with elaborate ceremony
  • Ugandan shilling unchanged as banks trim demand ahead of week close
  • Kenyan shilling steady amid end month demand
  • South Africa scolds US diplomacy “failure” after Trump tweet on land issue

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

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