By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks retreat; weakness in China outweighs NAFTA trade optimism
- MSCI Asia-Pacific index down 0.3 pct, Nikkei up 0.05 pct
- Spreadbetters expect mixed open for European stocks
- China stocks drop amid lingering trade woes, dampens sentiment
- Dollar sags, pound stands tall as ‘hard Brexit’ fears recede
- Oil prices extend overnight rally
Oil Markets
- Oil prices edge up on decline in US fuel inventories, looming Iran sanctions
- Global oil markets to tighten towards end of 2018 – IEA
- Brent crude oil futures up 7 cents at $77.21 per barrel (0114GMT)
- US WTI crude futures up 14 cents at $69.65 a barrel
Precious metals
- Gold steady as dollar dips; rate hike expectations cap gains
- Spot gold largely unchanged at $1,205.58 an ounce (0028GMT)
- US gold futures mostly steady at $1,211.82 an ounce
Grains
- Wheat adds to steep rise on fears Russia may limit exports
- Most active CBOT wheat futures up 0.9 pct at $5.46-3/4 per bushel (0138GMT)
- Most active corn futures up 0.6 pct at $3.58-1/2 per bushel
- Most active soy futures up 0.4 pct at $8.39-1/4 per bushel
- Most active rice futures down 0.1 pct at $10.85 per bushel
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- UK’s Theresa May expected in Kenya today; after stops in South Africa and Nigeria
- Germany’s Angela Merkel expected in Ghana today; arrived Senegal yesterday
- South Africa’s state capture inquiry continues
- South Africa producer inflation data for July due [fcst. 5.9% yy, prev. 5.9%]
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 credit demand growth slows to 5.41 pct in July
- South Africa union signs wage agreement with state utility Eskom
- Nigeria’s presidency rebuffs landmark oil reform bill in current form
- Africa’s forests at risk if indigenous ‘rebels’ excluded – experts
- Nigeria central bank orders MTN, banks to bring back $8.1 bln sent abroad
- Nigeria vice president sees economy picking up after sluggish Q2
- Worker strike halts operations at AngloGold’s Guinea mine
- UK’s May on African tour, urges Nigeria to tap City of London expertise
- Africa Crude – Demand flourishes for Nigerian Qua; IOC seeks October crude
- South African unions declare dispute over wage talks with gold firms
- Construction begins at Botswana’s first privately-owned coal mine
- Mini power grids bring promise of jobs to rural Nigerians – report
- At least 2 killed as foreign shop owners attacked in Soweto – South African police
- Egypt says 20 suspected militants killed in western desert, Sinai
- Zimbabwe’s Mnangagwa names team to probe soldiers role in post-election violence
- South Africa’s rand slides as risk sentiment wavers, stocks rise
- Hundreds of migrants trapped in detention centres in Libya capital after clashes
- UK’s May pledges to help Nigeria get tougher on human trafficking
- Two South African malls reopen after bomb threats
- Steinhoff offer loans to Brazil farmers preserving land
- Spain defends hard line on North African border immigration
- Germany returns skulls from colonial-era massacre to Namibia
- Egypt’s toursim revenue jumps 77 pct in first half – govt official
- Trading suspension in Kenya’s ARM Cment extended
- Congo ebola outbreak not yet stabilised – WHO chief
- Kenyan court temporarily halts criminal action against deputy chief justice
- South Africa launches electronic trading platform for govt bonds
- Nigeria’s NNPC to conduct feasibility study for oil refinery
- Milking it: solar coolers heat up earnings for Kenya’s dairy farmers
- South Africa’s Adcock calls for medicine price hike as weaker rand bites
- Kenya Airways expects better second half after H1 pretax losses narrow
- As Nigeria elections loom, refugees ordered back to unsafe region
- US air strike kills 3 al Shabaab militants – statement
- “Ghetto President” shakes up Ugandan politics
- South African farmers play chicken with Trump tariffs
- Five soldiers killed in northern Kenya – military
- Uganda shilling steady, interbank demand pressure eyed
- Kenyan shilling edges down on end month demand
- Steinhoff ex-CEO to appear in parliament next week over accounting scandal
N.B. Full stories of above headlines are available on Reuters
