#Africa #Markets | 3 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks dip on trade, emerging markets woes
  • Asian shares hampered by worries over Sino-US trade war
  • Emerging market currencies seen fragile despite latest rebound
  • US markets closed for Labor Day

Oil Markets

  • Brent crude oil dips on rising OPEC output; looming sanctions on Iran prevent bigger fall
  • OPEC output hit 2018 high in August – survey
  • But US sanctions to target Iran’s oil exports from November
  • US rig count climbs, pointing to more production

Precious metals

  • Gold edges down as rising trade tensions buoy dollar
  • Spot gold down 0.3 pct at $1,196.93 an ounce (0054GMT)
  • US gold futures down 0.4 pct at $1,202.50 an ounce

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

  • African leaders in Beijing, China for FOCAC summit which starts today; 3-4 Sep
  • South Africa’s state capture inquiry continues
  • Rwanda parliamentary elections today

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

  • Some 400 prisoners escape prison in Tripoli chaos
  • Archeologists find Neolithic remains in Nile Delta
  • Islamists in northeast Nigeria kill up to 30 soldiers – sources
  • Al Shabaab car bomb kills at least six in central Mogadishu
  • White workers at South Africa’s Sasol to strike over black share scheme
  • Tunisia govt raises fuel prices, fourth hike this year
  • Ugandan opposition lawmaker arrives the US for medical treatment
  • Trains delayed: Ethiopia debt woes curtail China funding
  • Kenya imposes 16 pct VAT on petroleum products, defying lawmakers
  • China loans to Nigeria $328 mln to boost telecoms – Nigeria presidency
  • Algeria’s Bouteflika back from Geneva medical trip – presidency
  • Nigeria’s $8.1 bln demand cast doubts over MTN’s Nigeria IPO plans – sources
  • China’s TBEA to invest in 180 mln euro Gabon hydropower project – Gabon
  • China says not putting pressure on Taiwan’s last Africa ally
  • Libya closes Tripoli airport after rockets fired
  • Chad signs deal with Ethiopian Airlines to launch national carrier
  • Ebola control measures seem to be working in Congo, WHO says
  • Africa Crude – Nigerian firms, Angolan cargoes dwindle
  • South Africa’s rand steadies after emerging market rout, stocks fall
  • Congo Republic says to launch vaccination drive after yellow fever outbreak
  • Zimplats FY profit tumbles after higher deferred tax charge
  • Volkswagen to expand in Ghana, Nigeria
  • South Africa’s trade balance swings to deficit in July
  • Russia in talks with Eritrea to set up port project – RIA
  • Tunisian energy minister, officials sacked over graft accusations – govt
  • Ugandan shilling unchanged amid low appetite from banks, importers
  • Crisis-hit Steinhoff says 9-mth sales rise 2 pct
  • Kenya inflation at 4.04 pct in August – stats office
  • MTN Uganda bets on music streaming as voice business slows
  • Tunisia PM to merge energy, industry ministries after dismissing energy head, source says
  • BW Offshore Q2 EBITDA beats forecast, sees first Gabon oil in Sept/Oct
  • South Africa to publish mining charter by November – minister
  • South Africa’s Old Mutual H1 profit flat; declares dividend

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

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