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 1st 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
- 4th 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