#Africa #Markets | 4 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares fall under pressure from trade, emerging markets worries
  • MSCI Asia-Pacific ex-Japan index down 0.2 pct
  • Japan’s Nikkei down 0.3 pct
  • Australian shares 0.2 pct lower

Oil Markets

  • US oil prices rise as Gulf platforms shut ahead of hurricane
  • Storm Gordon to make US landfall as hurricane
  • Brent dips as India takes steps to continue Iran imports
  • Global oil markets have tightened since 2017 – Barclays
  • US WTI crude futures up 0.3 pct at $70.04 per barrel (0034GMT)
  • Brent crude futures down 5 cents at $78.10 per barrel

Precious metals

  • Gold inches down as trade worries keep dollar firm
  • Spot gold down 0.1 pct at $1,199.40 an ounce (0049GMT)
  • US gold futures down 0.1 pct at $1,206 an ounce

Grains

  • Wheat falls 1 pct as Russia rules out restricting exports
  • Most active CBOT wheat futures down 0.9 pct at $5.40-3/4 per bushel (0019GMT)
  • Most active corn futures up 0.7 pct at $3.67-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.44-3/4 per bushel
  • Most active rice futures unchanged at $10.83 per hundredweight

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

  • Final day of FOCAC summit in Beijing today; African leaders to go back home “pleased” on $60 bln financing pledge by China
  • South Africa Q2 GDP due [fcst. 2.0% qq saa, prev. -2.2%]
  • South Africa’s state capture inquiry continues

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

  • Congo’s top court excludes opposition leader Bemba from presidential election
  • Facebook blocked in Tripoli and other cities s fighting rages – residents
  • Congo’s top court excludes one ex-PM from presidential race, reinstates another
  • Over $2 billion pledged to drought-stricken Lake Chad region
  • ExxonMobil says blockade threatens production at Nigeria oil facilities
  • Uganda charges lawmaker with treason but lets him travel abroad
  • South Africa’s rand weaker on EM sell-off, stocks flat
  • Africa Crude – Nigerian bid higher, brisk demand for Angolan
  • Kenyan fuel tax causes anger, petrol dealers strike
  • Eight killed in blast at South African munitions depot
  • No safe haven for girls in crisis-hit Lake Chad region – survey
  • Zimbabwe to donate 10 white rhinos to Congo
  • White South African workers protest against Sasol’s black share scheme
  • Nigerian military denies reports of deadly Islamist attack on troops
  • UN official sees over $1 bln in fresh aid for Lake Chad region
  • Lonmin’s largest shareholder backs takeover by Sibanye-Stillwater
  • Ghana considering $50 bln century bond, president says
  • Eni says activities in Libya running as normal, no expats in Tripoli
  • Algeria’s Bouteflika eases grip of military with dismissal of generals
  • Kenya independent petroleum dealers strike against new tax
  • Safaricom faces $4.5 mln fine for failing to connect small firms
  • South Africa’s Sun International close to exiting Nigeria
  • China’s Xi offers another $60 bln to Africa, but says no to “vanity” projects
  • Kenyan shilling steady on remittances, NGO dollar flows
  • South Africa’s Absa PMI falls to 13-mth low in August
  • South Africa’s Sun International H1 earnings fall 46 pct on one-off costs

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

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