#Africa #Markets | 11 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares can’t shake trade stress, pound up on Brexit talk
  • Asia shares ex Japan hit another 14-mth low, Nikkei firms
  • Break in tariff hostilities welcome, but seen as temporary
  • Sterling holds gains on hopes for a Brexit deal with EU

Oil Markets

  • Oil firm as Iran sanctions loom, but US seeks to prevent supply shortfall
  • US sanctions to target Iran oil exports from November
  • Washington wants other producers replace falling Iran exports
  • Asian refiners buy American oil to make up for Iranian supply
  • Brent crude futures up 11 cents to $77.48 a barrel (0112GMT)
  • US WTI crude futures up 7 cents at $67.61 a barrel

Precious metals

  • Gold slips as dollar firms on Sino-US trade tensions
  • Spot gold down 0.1 pct at $1,194.30 an ounce (0106GMT)
  • US gold futures mostly steady at $1,199.60 an ounce

Grains

  • Wheat hits near 1-week high as global supply tightens
  • Most active CBOT wheat futures up 0.7 pct at $5.31-3/4 per bushel (0059GMT)
  • Most active corn futures up 0.3 pct at $3.68-1/2 per bushel
  • Most active soy futures up 0.4 pct at $8.48-1/2 per bushel
  • Most active rice futures unchanged at $10.92 per hundredweight

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

  • South Africa’s Ramaphosa to answer questions in the National Council of Provinces (NCOP) today
  • ITU Telecom conference continues in Durban, South Africa, today
  • South Africa manufacturing data for July expected [fcst. 0.7% yy, prev. 0.7%]
  • 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]

  • Hurricane Helene, west of Cape Verde, forecast to strengthen next 12-24 hours – NHC
  • Nigerian gas tanker explosion kills at least 35
  • US ‘gravely concerned’ by reports of abuse by Ugandan security forces – official
  • Egypt cancels second consecutive t-bond sale due to high yields
  • Interpol rescues 85 child slaves from Sudan’s streets and gold mines
  • Rich nations must act to avoid ‘refugee catastrophe’ in East Africa – aid agencies
  • Tanzania tells short-stay accomodation operators to register or face arrest
  • African Crude – Nigerian again bid by BP; Angolan mostly sold
  • South Africa ready to intervene in MTN-Nigeria dispute – minister
  • Ebola fight has new science but faces old hurdles in restive Congo
  • Cash-strapped Sudan to form leaner new govt in two days
  • South Africa’s rand recovering, stocks falter on local economic pressure
  • New Zimbabwe finance minister wants to clear World Bank arrears
  • Gunemn attack headquarters of Libya’s state oil firm, two staff killed
  • Egypt says 11 suspected militants killed in Sinai
  • MTN seeks court order to protect Nigeria assets over dispute
  • Egypt’s inflation edges up in August after subsidy cuts
  • Bain changes South Africa management after conceding lapses in tax agency work
  • Djibouti nationalises Port of Djibouti’s shares in Doraleh Container terminal
  • South Sudan signs, extends oil exploration, production deals for 3 blocks
  • Egypt’s core inflation increases to 8.83 pct y/y in August – cenbank
  • South African govt to accelerate licensing of new radio spectrum – Ramaphosa
  • Congo mining revenue triple in H1; oil revenue fall by a third
  • Slingshots in hand, Kenyans work to replant vanishing forests
  • Souty Africa may miss tax target over recession – finmin
  • Pest-proof bags and bins slim Tanzania’s ‘lean season’
  • Ugandan shilling seen edging lower due to importer demand
  • Suicide car bomb kills at least six in Somali capital
  • Chairman of Libya state oil firm safely evacuated from headquarters – witness
  • Kenyan shilling steady; horticultures export inflows meet dollar demand
  • Egypt’s annual urban consumer inflation rises to 14.2 pct in August – CAPMAS
  • South Africa’s African Oxygen profit rises on LPG, gases boost

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

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