#Africa #Markets | 10 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares on slippery slope as Trump ups ante in trade war
  • Asian shares down for the eight straight day
  • Dour mood follows from losses in US, Europe on Friday
  • Trade tensions a major worry for share investors
  • US Fed widely expected to raise rates later this month

Oil Markets

  • Oil prices climb as US energy firms cut rigs, Iran sanctions loom
  • US sanctions against Iran’s oil sector tighten market – FGE
  • Brent crude futures up 0.6 pct at $77.25 a barrel (0055GMT)
  • US WTI crude futures up 0.5 pct at $68.09 per barrel

Precious metals

  • Gold inches down on rate hike views, trade worries
  • Spot gold down 0.1 pct at $1,194.01 an ounce (0030GMT)
  • US gold futures down 0.1 pct at $1,199.80 an ounce

Grains

  • Soybeans fall as US-China trade war threatens to escalate
  • Most active CBOT wheat futures down 0.2 pct at $5.10 per bushel (0058GMT)
  • Most active corn futures down 0.4 pct at $3.65-1/2 per bushel
  • Most active soy futures down 0.3 pct at $8.41-1/4 per bushel
  • Most active rice futures down 0.2 pct at $10.93 per hundredweight

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

  • New Zimbabwe cabinet to be sworn-in today
  • ITU Telecoms World 2018 conference to start today in Durban, South Africa
  • South Africa’s finance minister Nhlanhla Nene and acting SARS commissioner Mark Kingon to give keynote at annual tax gathering 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]

  • Mali’s Keita names new defence and mines ministers for second term
  • Sudanese President Bashir dissolves govt, appoints new PM
  • Uganda warns against interference as pressure mounts on US to cut military support
  • Egypt set to release Lebanese tourist jailed over Facebook post
  • UN rights boss Bachelet urges Egypt to overturn mass death sentences
  • Comoros seeks to arrest ex-VP who opposed president’s term limit move
  • Armed groups agree to maintain Tripoli ceasefire – UN
  • South Africa’s ANC rejects reports of party officials’ plot to oust Ramaphosa
  • Egypt set to release Lebanese tourist jailed over Facebook post
  • At least 19 killed in South Sudan plane crash
  • Uber rival Careem expands services into Sudan
  • Egypt’s foreign debt rises to $92.64 bln at end-June, PM tells paper
  • UNHCR says Tripoli facility ready to help refugees caught up in fighting
  • Angola’s Lourenco appointed leader of ruling MPLA party
  • Egypt sentences 75 to death, hundreds to jail over 2013 sit-in
  • Botswana says China agreed to extend loan, cancel debt
  • Many feared dead after Islamist attack in northeast Nigeria – witnesses
  • Equatorial Guinea to crack down on oil services companies over local jobs
  • Africa Crude – Angola’s Cabinda crude weakens, Nigeria supported by BP bidding
  • Zimbabwe’s Mnangagwa names ex-banker Mthuli Ncube finance minister
  • South Africa’s Nedbank warns land expropriation could spark banking crisis
  • Manager of Ethiopia’s $4 bln Nile dam project committed suicide – police
  • Pest-proof bags and bins slim Tanzania’s ‘lean season’
  • Amid trade row, China to allow soybean imports from Ethiopia
  • Kenya economic growth to be curbed by new tax on fuel – industry
  • Egypt says Zohr gas field output reaches 2 bln cubic feet per day
  • Zimbabwe’s Mugabe says now accepts Mnangagwa as legitimate president
  • Kenya shilling steady amid inflows from charities
  • Tunisia’s inflation stabilizes at 7.5 pct in August
  • South Africa’s ARM full-year profit soars 50 pct on debt restructuring
  • South Africa’s net foreign reserves fall to $42.35 bln in August
  • South Africa Northam Platinum’s full-year loss widens
  • US should suspend military aid to Uganda – lawyer for critic of Museveni

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

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