#Africa #Markets | 13 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares win reprieve on Sino-US trade talk hopes
  • Asian shares bounce back from 14-mth low
  • Report of US outreach to China raise hopes of policy shift
  • Turkish lira in focus as central bank seen raising rates

Oil Markets

  • Oil prices dip, but US crude remians above $70 on falling inventories
  • US crude inventories drop below 400 mln barrels – EIA
  • Looming US sanctions against Iran keep Brent near $80
  • Brent crude futures down 11 cents to $79.63 a barrel (0024GMT)
  • US WTI crude futures down 18 cents at $70.19 per barrel

Precious metals

  • Gold near 1-wk highs as Sino-US trade talk hopes hurt dollar
  • Spot gold firm at $1,205.66 an ounce (0055GMT)
  • US gold futures mostly steady at $1,211.10 an ounce

Grains

  • Corn prices edge up, but near 2-mth low on USDA estimate
  • Most active CBOT wheat futures up 0.4 pct at $5.09 per bushel (0013GMT)
  • Most active corn futures up 0.7 pct at $3.55 per bushel
  • Most active soy futures nearly unchanged at $8.39-3/4 per bushel
  • Most active rice futures up 0.2 pct at $10.77 per hundredweight

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

  • State funeral for former UN Secretary-General Kofi Annan in Accra, Ghana, today
  • South Africa mining production data for July expected [fcst. 2.9% yy, prev. 2.8%]
  • Final day of ITU Telecoms World 2018 conference in Durban, South Africa

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

  • Libya agrees to impose fees on foreign currency transactions
  • At least 20 killed in Mali after truck falls into river
  • South Sudan’s president, rebel leader sign peace deal
  • NOC says Libyan oil ouput normal despite attack on its headquarters
  • MTN says $10.1 bln Nigeria demand makes local listing challenging
  • Zimbabwe police ban public gatherings in capital to contain cholera outbreak
  • Egypt imposes new tariffs on consumer goods
  • New Moroccan law fails to protect women from forced marriage – activists
  • Wife of former UN chief Kofi Annan joins mourners around husband’s casket
  • Egypt prosecutor says e-coli was factor in deaths of British tourists
  • US sanctions Libyan militia leader over oil facility attacks
  • Stone in South African cave boasts oldest-known human drawing
  • South Africa’s rand firmer on positive retail data; stocks fall
  • Thomas Cook says has not seen full report from Egypt prosecutor on resort deaths
  • Africa Crude – Nigerian diffs edge lower but supported by BP bids
  • Kenyan central bank fines five banks a total of $3.89 mln over suspect transactions
  • France presses close ally Egypt to suspend mass death sentences
  • Algeria blighted by youth unemployment despite recovering oil prices
  • Libya closes Tripoli airport again after rocket fire
  • South Africa to probe whether kickback was paid for SAP contract
  • South Africa’s Clover triples FY profit, impairment hurts shares
  • Uganda’s shilling edges down against the dollar
  • Kenyan shilling weakens against the dollar
  • South Africa retail sales up 1.3 pct y/y in July
  • Congo mines minister insists on no compromise on new mining code
  • Many parts of the world not ready for super fast 5G network – MTN’s CEO
  • Libya’s PM says conditions for elections not yet ripe – paper
  • South Africa’s business confidence index falls in August
  • EU’s Juncker eyes free trade pact with Africa
  • South Africa’s iron ore railway to be shut down for annual maintenance

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

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