#Africa #Markets | 5 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks sag, dollar broadly higher with trade in focus
  • MSCI Asia-Pacific index down 0.2 pct, Nikkei sheds 0.25 pct
  • Safe-haven dollar broadly higher amid trade woes
  • Immediate focus on US-Canada trade talks resuming Wednesday

Oil Markets

  • Oil prices drop as storm threat eases on US Gulf coast
  • Dozens of rigs shut ahead of storm hitting US Gulf coast
  • Tropical storm Gordon’s impact weaker than expected, turns east
  • Typhoon hits Japan’s coast, but refinery damage is limited
  • Oil markets still tense ahead of US oil sanctions against Iran
  • Brent crude oil futures down 0.4 pct at $77.83 a barrel (0036GMT)
  • US WTI crude futures down 0.8 pct at $69.34 per barrel

Precious metals

  • Gold near 1-wk lows as trade, emerging market concerns boost dollar
  • Spot gold little changed at $1,191.45 (0102GMT)
  • US gold futures down 0.1 pct at $1,197.90

Grains

  • Wheat prices fall for second session as global supply fears ease
  • Most active CBOT wheat futures down 0.2 pct at $5.30-1/2 per bushel (0026GMT)
  • Most active corn futures up 0.1 pct at $3.68-3/4 per bushel
  • Most active soy futures up 0.1 pct at $8.44-3/4 per bushel
  • Most active rice futures unchanged at $10.84 per hundredweight

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

  • South Africa PMI data for August expected [prev. 49.3]
  • 3-day banking sector probe by Ghana parliament starts today

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

  • UN says has reached ceasefire for Libyan capital as jailed migrants escape
  • Egypt cancels 3 and 7-year treasury bond auction
  • Emerging market portfolio inflows shrivel to $2.2 bln in August
  • South African rand plunges on recession shock, stocks falter
  • Africa Crude – Nigerian differentials rise after BP bids for swaps-linked grades
  • Ethiopia opens logistics sector to foreign investment
  • South Africa’s Discovery strikes FirstRand deal to pay way for bank
  • Man held after backpack fire near US embassy in Cairo – statement
  • Bank of Kigali sells 30 pct of insurance arm to Mauritius’ Swan
  • Mali’s Keita promises to tackle rising violence in inaugrual address
  • Nigeria says whistleblower triggered MTN $8.1 bln probe – official
  • In latest clash, Nigeria hands South Africa’s MTN $2 billion tax bill
  • Rebels ambush South African peacekeepers in Congo ebola zone
  • Ugandan shilling weaker on uptick in interbank dollar demand
  • South Africa in recession for first time since 2009; rand slumps
  • South African fixed capital formation down 0.5 pct in Q2 – stats office
  • Egypt targets narrower budget deficit of 8.4 pct in 2018/19 – minister
  • South Africa’s economy contracts 0.7 pct in Q2 – stats office
  • Steinhoff agrees sale of POCO to Seifert for $312 mln
  • Moody’s says Mozambique’s private creditors face substantial losses
  • South Africa’s Sibanye launches $400 mln bond buyback
  • South African insurer Discovery lifts FY profit by 16 pct

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

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