#Africa #Markets | 12 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks wobble near 14-mth lows on simmering trade worries
  • MSCI Asia-Pacific index down 0.05 pct, Nikkei loses 0.25 pct
  • China to request WTO slap duties on US goods
  • Brent crude oil stretches gains after rallying more than 2 pct

Oil Markets

  • Oil prices rise on lower US crude inventories, looming Iran sanctions
  • API reports 8.6 mln barrel decline in crude inventories
  • Hurricane Florence to hit US East Coast on Friday
  • Storm has caused fuel shortages amid evacuations
  • Brent crude futures up 0.3 pct at $79.30 a barrel (0047GMT)
  • US WTI crude futures up 0.8 pct at $69.81 a barrel

Precious metals

  • Gold prices on US-Sino trade war fears
  • Spot gold down 0.1 pct at $1,196.21 an ounce (0102GMT)
  • US gold futures mostly steady at $1,202.40 an ounce

Grains

  • Soybean prices edge down, mark lowest in nearly 2 weeks
  • Most active CBOT wheat futures up 0.1 pct at $5.19-1/4 per bushel (0152GMT)
  • Most active corn futures down 0.2 pct at $3.66 per bushel
  • Most active soy futures down 0.1 pct at $8.31 per bushel
  • Most active rice futures up 0.5 pct at $10.80 per hundredweight

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

  • 33rd session of IGAD assembly of heads of state and govt starts in Addis Ababa today; South Sudan warring parties to sign peace agreement
  • Nigeria’s Buhari to submit party’s expression of interest form for rerun today
  • South Africa retail sales data for July expected [fcst. 0.8% yy, prev. 0.7%]
  • South Africa SACCI business confidence data for August to be released [prev. 94.7]

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

  • Flight from Egypt to Tripoli diverts to Misrata
  • Rockets fired towards airport in Libya’s capital
  • South Africa’s Aspen in talks to sell infant formula unit
  • Islamic State claims shooting attack on Libyan oil – group’s news agency
  • Burundi under fire at UN for expelling UN human rights team
  • Manufacturing data lifts South Africa rand, stocks track metal prices lower
  • Africa Crude – BP scoops up Nigerian cargoes; Angolan selling out
  • Trafigura loses last big Angolan oil deal as new president shakes up sector
  • Zimbabwe opposition leader plans mock inauguration in challenge to president
  • Zimbabwe declares cholera emergency in capital after death toll rises to 20
  • Former Nigerian leader Obasanjo urges West African govts to decriminalise drugs
  • South Africa’s telecoms watchdog mulls regulating internet data prices
  • Ethiopia, Eritrea reopen border points for first time in 20 years
  • Ramaphosa doesn’t belive South Africa will face sanctions over land reform
  • Ethiopia PM says Ethiopia, Eritrea forces to move away from border
  • South Africa’s manufacturing up but economy not out of the woods
  • Ghana resurrects LNG import terminal with Chinese deals
  • South Africa’s Transnet to deepen Durban port berths to accommodate larger ships
  • Africa is not ready for super fast 5G network – MTN’s CEO
  • Uganda shilling weakens on strong demand from banks, importers
  • South Africa’s manufacturing output up 2.9 pct
  • South African busineess confidence slips in Q3 – survey
  • Union Fenosa ‘in conversations’ to restart Egypt gas plant – statement

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.