#Africa #Markets | 6 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares extend losses on trade, emerging market anxiety
  • MSCI Asia ex-Japan down 0.26 pct, Nikkei off 0.58 pct
  • Investors wary about escalation in US-China trade war
  • Dollar index retreats from 2-week highs

Oil Markets

  • Oil prices fall on emerging market woes, looming tariff deadline
  • Brent crude futures down 0.4 pct at $77 a barrel (0031GMT)
  • US WTI crude futures down 0.4 pct at $68.47 per barrel

Precious metals

  • Gold holds gains on dollar weakness; Sino-US trade in focus
  • Spot gold up 0.3 pct at $1,199.21 (0025GMT)
  • US gold futures up 0.3 pct at $1,204.90 an ounce

Grains

  • Wheat firms for first time in three sessions
  • Most active CBOT wheat futures up 0.2 pct at $5.22-3/4 per bushel (0031GMT)
  • Most active corn futures up 0.3 pct at $3.66-1/4 per bushel
  • Most active soy futures up 0.2 pct at $8.40 per bushel
  • Most active rice futures up 0.5 pct at $10.86 per hundredweight

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

  • South Africa current account balance data for Q2 2018 expected [fcst. -3.1% of GDP, prev. -4.8%]

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

  • Cholera ruled out after suspect case in Algeria-France flight
  • Danone CEO seeks to reassure Morocco consumers amid boycott
  • NHC says 70 pct chance of cyclone near Cape Verde islands
  • UN inquiry says Burundi still committing crimes against humanity
  • Suspected Boko Haram militants kidnap at least 10 people in northeast Nigeria
  • Ugandan lawmakers appeal law allowing Museveni re-election bid
  • White unionised workers protest at Sasol plant over black share scheme
  • Bond sell-off to deepen as South Africa slips into recession
  • Two opposition lawmakers elected in Rwanda for the first time
  • Wheat extend slide as Egypt buys Russian supplies; corn, soy weak
  • South African rand tumbles as recession dims investor sentiment, stocks falter
  • Africa Crude – Nigerian differentials steady after active bidding by BP
  • Ship docks, road upgrade planned as Eritrea, Ethiopia ties strengthen
  • Ghana signs preliminary deal with China’s Sinotruck for assembly plant
  • US designates al Qaeda affiliate in Mali as terrorist organization
  • Congo records first ebola death in major eastern trade hub
  • Africa’s farmers need political support more than ‘seeds, weather and soil’
  • Egypt ‘taking steps’ over $2 bln payment to Union Fenosa Gas – statement
  • Libya to reopen Tripoli airport within two days after ceasefire
  • Eritrea plans to upgrade key road to Ethiopia – state tv
  • MTN’s Ghana unit up 4 pct on stock market debut – traders
  • Women raped in Mauritania risk jail for seeking justice – report
  • Czech PM lauds work of Libyan coast guard, urges closer cooperation
  • South Sudan expects to return to peak oil output of 350k bpd by mid-2019
  • Angola’s net reserves fall to $12.7 billion in August
  • Steinhoff’s former CEO rues joint venture with Austrian businessman Seifert
  • Egypt’s net reserves rise to $44.42 bln
  • Somali militants kill soldiers, kidnap scores of elders
  • African gas output could make up 10 pct of global total by 2040 – official
  • South Africa, Indonesia CDS at over 1-1/2 yr highs as EM selloff extends
  • Steinhoff’s former CEO says not aware of accounting irregularities at company
  • Ugandan shilling weakens as energy, manufacturing demand weighs
  • UN inquiry says Burundi still committing crimes against humanity
  • Kenyan shilling little-changed amid horticulture inflows
  • Rand rout extends South Africa dollar debt selloff, 2044 bond at record low
  • Egypt to finalise rules for short selling of shares by end of September
  • Kenya 428 km power line complete, to add 310MW to grid by December
  • Emerging market portfolio inflows shrivel to $2.2 bln in August
  • Landslide kills 12 in southern Ethiopia, media report says

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

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