#Africa #Markets | 31 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks bruised by Trump’s trade war threats
  • MSCI Asia-Pacific ex-Japan index down 0.2 pct
  • Nikkei down 0.8 pct

Oil Markets

  • Oil prices dip on concerns Sino-US trade conflict could escalate
  • Brent crude oil futures down 0.3 pct at $77.55 per barrel (0106GMT)
  • US WTI crude futures down 6 cents at $70.19 per barrel

Precious metals

  • Gold headed for longest monthly losing streak since 2013
  • Spot gold down 0.1 pct at $1,198.66 an ounce (0029GMT)
  • US gold futures mostly steady at $1,204 an ounce


  • Soybeans edge lower, set to finish the month down 10 pct
  • Most active CBOT wheat futures up 0.3 pct at $5.36-1/2 per bushel (0014GMT)
  • Most active corn futures unchanged at $3.56-1/2 per bushel
  • Most active soy futures down 0.2 pct at $8.30 per bushel
  • Most active rice futures unchanged at $10.71 per hundredweight

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

  • Germany’s Merkel expected in Nigeria today from Ghana
  • Nigeria’s Buhari to travel to China today for FOCAC summit
  • Kenya consumer inflation data for August expected [fcst. 3.9% yy, prev. 4.4%]
  • Uganda consumer inflation data for August expected [fcst. 3.4% yy, prev. 3.1%]

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

  • Despite debt woes, Africa still sees China as best bet for financing
  • African wars killed 5 million sick children in 20 years – study
  • New drought insurance plan for Senegal will free up aid, save lives, charities say
  • Uganda police arrest lawmakers trying to leave country after torture allegations
  • Satterfield emerges as leading candidate for US envoy to Egypt
  • Africa Crude – Nigerian crudes get snapped up in tenders; Angola slows
  • Congo’s H1 copper production rises 8 pct; cobalt output up 38 pct
  • Egypt investigates hotel after death of British couple – minister
  • Libya evacuates migrants trapped by fighting , with UN help
  • Remittances from Egyptians abroad rise 21.1 pct in FY 2017-18 – c.bank
  • Nigeria stuns MTN with $8.1 bln demand, shares plunge
  • Aker Energy to submit plan for Ghana offshore field in 2019
  • Military helicopter crash kills 18 in Ethiopia – news agency
  • Nigeria’s senate leader says economy broken, plans to challenge president in vote
  • TFG to open retail brand in Australia, test appetite outside Africa
  • MTN Ghana raises $238.5 mln in IPO, misses target
  • Nigerian bankers to meet after MTN ordered to transfer $8.1 bln – Access Bank CEO
  • Kenya’s parliament approves retaining interest rate cap, against IMF wishes
  • S&P says unlikely to lower South Africa ratings like Turkey
  • S&P says South Africa’s ratings unlikely to be downgraded like Turkey
  • Algeria’s annual inflation up to 4.8 pct in July
  • Kenyan shilling holds steady against the dollar
  • Egypt’s M2 money supply up 17.84 pct y/y in July – c.bank
  • Former Congolese military leader: I am not “the Terminator”
  • Ugandan shilling firms slightly on month-end thinning of demand
  • Libya evacuates with UN help migrants trapped by Tripoli clashes
  • Tunisia, IMF locked in difficult talks over next loan tranche
  • AngloGold’s Guinea mine resumes operations after 1-day strike
  • Zambia’s external debt jumps, hurting IMF deal hopes
  • PM May says UK committed to free trade with Kenya after Brexit
  • Tunisia central bank holds key interest rate unchanged at 6.75 pct
  • At least 10 killed in South Africa bus crash
  • MTN plunges as Nigeria orders $8.1 bln be refunded
  • South Africa’s Solidarity union agrees wage deal with Eskom
  • South Africa’s credit demand growth slows to 5.41 pct in July

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

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