By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian stocks extend recovery as trade worries take back seat
• Nikkei hits 8-month high
• Strong earnings outlook outweigh immediate worries on trade
• Euro at 2 1/2-mth high vs dollar

Oil Markets

• Oil prices mixed as Trump calls on OPEC to lower prices
• US president Trump urges OPEC to lower prices
• OPEC, its allies to gather on Sunday in Algeria
• They are unlikely to discuss crude output increases
• Brent crude futures up 5 cents at $78.75 a barrel (0424GMT)
• US WTI crude futures down 8 cents to $70.24 a barrel

Precious metals

• Gold rises on weaker dollar, heads for 1^st weekly gain in four
• Spot gold up 0.2 pct at $1,209.38 per ounce (0036GMT)
• US gold futures up 0.3 pct at $1,214.30 an ounce

Grains

• Soybeans edge lower, but set for biggest weekly gain in 5 weeks
• Most active CBOT wheat futures down 0.4 pct at $5.22 per bushel (0109GMT)
• Most active corn futures up 0.4 pct at $3.54 per bushel
• Most active soy futures down 0.6 pct at $8.45-1/2 per bushel
• Most active rice futures down 0.3 pct at $9.85 per hundredweight

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

• South Africa’s Ramaphosa to announce economic stimulus package today
• 4^th Bank of Uganda lecture today: “Beyond manufacturing: Structural change in Africa reconsidered”

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

• Tunisia’s main public sector union calls nationwide strike
• Ugandan musician turned MP vows to continue “fight for freedom” against govt
• At least 42 drowned in Tanzania’s Lake Victoria ferry sinking, death toll could top 200 – officials
• Trump to meet Israel, Egypt, Japan leaders at UN next week – White House
• Split South African central bank holds rates, exposing wider tensions
• World bank disburses $500 mln loan to support Tunisia budget
• Libyan oil firm to resume flights to Wafa oilfield after protest ends – field worker
• Zambia says donor witholding nearly $34 mln over mismanagment
• Ghana’s govt pulls planned 5-yr local currency bond
• Uganda to deploy ebola vaccine if virus spreads from Congo
• Eastern Libya follow Tripoli with quasi-devaluation to tackle black market
• Gupta brother denies threatening to kill South African former minister
• Egypt court frees Mubarak’s sons on bail in share-dealing case
• South Africa’s ruling ANC retracts statement on monetary policy
• Africa Crude – Nigerian diffs ease ahead of rising crude supply
• METALS-Copper pulls back as economic growth worries return
• Kenya assembly backs halving of fuel tax amid anger at living costs
• Ghana’s Cocobod signs $1.3 bln syndicated loan for 2018/19 cocoa buying
• Tanzania suspends US-funded family planning ads on radio, television
• South Africa’s ANC economic head criticises statement issued by party on rate decision
• Egypt inks $352 mln deal with Siemens to manage power stations
• World Bank revises Zambia’s 2018 economic growth forecasts downwards; now sees it below 4 pct
• Kenya speaker upholds parliament’s approval of 8 pct tax on fuel
• Libya sets fee on currency transactions to tackle black market
• South Africa’s ruling party urges central bank to help poor
• Morocco’s Attijariwafa Bank first half net profit up 6.35 pct
• Police take Ugandan opposition leader Kyagulanyi home after he returns from abroad
• South Africa’s central bank leaves repo rate at 6.5 pct
• Italian judge jails two in Nigerian oil graft case
• Liberia passes landmark law to secure ancestral land rights
• Oil and gas company SDX Energy confirms talks with BP to buy assets in Egypt
• Ghana’s Cocobod in talks with international lenders for $300 mln medium-term loan
• Africa-focused buyout firm DPI buy irrigation company CMGP for $100 mln
• South Africa’s cabinet approves new mining charter
• Plot, poison, or curse? Ebola rumours spread in Congo
• Rocket Internet prepares IPO for African platform Jumia – sources
• OPEC unlikely to agree official output increase in Algeria, but pressure mounts
• South Africa’s Pick n Pay sees jump in HY profits
• Ghana’s market women score win against forced eviction
• Guards shut airport at Libyan Wafa oilfield – NOC
• Mali eyes 3.4 pct budget rise for 2019 to tackle security problems
• South Africa’s state pension fund invests $100 mln in Afreximbank
• Kenyan shilling unchanged, expected strengthen
• Uganda shilling unchanged as demand from energy, manufacturing slows
• MTN shares rise after Nigeria says reviewing information to resolve $8.1 bln dispute
• South Africa has no plans to return to international bond markets in 2019
• South African man arrested for racist rant at Ramaphosa

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