#Africa #Markets | 29 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares, dollar becalmed awaiting trade news
  • Asia shares up marginally after Wall St finishes flat
  • US-Mexico trade deal facing obstacles, Canada enters talks
  • Next deadline on China tariffs just a week away
  • Dollar edges up from lows, euro holds recent gains

Oil Markets

  • Oil prices firm on Iran sanctions, but rising global supply caps market
  • US sanctions to target Iran’s oil sector from November
  • Oil buyers already scaling back orders from Iran
  • But non-OPEC crude supply to rise – BoAML
  • Brent crude oil futures up 5 cents at $76 per barrel (0030GMT)
  • US WTI crude futures up 6 cents at $68.59 a barrel

Precious metals

  • Gold prices inch up, but US-China trade tensions weigh
  • Spot gold up 0.1 pct at $1,202.46 an ounce (0112GMT)
  • US gold futures down 0.5 pct at $1,208.90 an ounce


  • Soybeans edge higher from 6-wk low
  • Most active CBOT wheat futures up 0.1 pct at $5.23-1/2 per bushel (0101GMT)
  • Most active corn futures unchanged at $3.56-1/4 per bushel
  • Most active soy futures up 0.2 pct at $8.35 per bushel
  • Most active rice futures up 0.2 pct at $10.71 per hundredweight

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

  • UK’s Theresa May in Nigeria today; 2nd leg of her 3-nation Africa working visit
  • Kenya’s deputy chief justice Mwilu to take plea on abuse of office charges at a magistrate court today
  • South Africa’s state capture inquiry to continue today; former ANC MP Mentor to testify for a few minutes, new witness to be called

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

  • South Sudan rebels to sign latest draft peace deal – Sudan
  • Egypt’s top Muslim authority condemns harassment of women
  • Revised business model spurs profits at South Africa’s RCL Foods
  • Truck explodes at Glencore oilfield in Chad, production suspended
  • Egypt’s al-Azhar calls for harsh penalties for sexual harassment
  • US says air strike kills Islamic State militant in Libya
  • Nigerian schoolgirl kidnapped by Boko Haram begs for freedom
  • Ugandan army arrests soldiers over beating of lawmakers
  • South Africa withdraws land expropriation bill passed in 2016
  • South Africa’s rand steadies after volatile trade; stocks rise
  • South Africa’s Solidarity union to strike at Sasol over black staff scheme
  • Kenya’s deputy chief justice arrested for suspected corruption – police, prosecutor
  • Africa Crude – Nigerian and Angolan markets supported by demand uplift
  • Congo Republic confirms yellow fever near Angolan enclave
  • Swiss court approves Gunvor ex-employee’s Congo bribery plea bargain
  • Migrants rejected by Italy were tortured and raped, UN says
  • War crimes prosecutor calls for conviction in Congo sexual slavery case
  • Uganda parliament speaker demands arrest of security agents behind beating of lawmakers
  • Wintershall’s Libya oil output sharply lower at 10,000 bpd
  • Britain will use aid budget to boost trade in Africa – PM May
  • Vietnam sentences South African drug smuggler to death
  • Court rejects Angola fund’s request to appeal in Quantum Global case
  • Number of Somalis evicted from their homes doubles in first half of 2018 – report
  • South Africa Cashbuild annual profit down 9 pct, shares fall
  • South Sudan rebel leader refuses to sign latest peace deal – Sudan minister
  • Kenya shilling steady, end month dollar demand subdued
  • China says projects to blame for majority of Africa debt
  • Britain supports South African land reform – PM May
  • Ugandan shilling little changed amid subdued commercial bank dollar demand

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

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