#Africa #Markets | 4 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks rally again on expected Fed rate cuts; euro on defensive
  • Major Wall St indexes at record highs on rising cut hopes
  • Global bond rally continues; Treasury yield hits 32-mth low
  • Trade subdued, US financial mkts closed for holiday

Oil Markets

  • Oil prices edge down, pressured by US supply
  • Brent down 0.4% at $63.60 per barrel (0112GMT)
  • WTI down 0.3% at $57.18 per barrel

Precious metals

  • Gold steady as firm equities offset support from weak dollar, rate cut hopes
  • Spot gold largely unchanged at $1,418.60 per ounce (0119GMT)
  • US gold futures up 0.1% at $1,421.7 an ounce

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

  • 35th ordinary session of AU executive council in Niamey, Niger; 4-5 Jul
  • 25th Rwanda liberation anniversary in Kigali; African heads of state or representatives attending
  • Africa Airtel IPO on Nigerian Stock Exchange in Lagos
  • Manufacturing-themed 7th Transform Kenya Forum #TransformKenyaSG in Nairobi; Kenyatta to open
  • South Africa state capture inquiry continues
  • South Africa’s Ramaphosa on working visit to Lesotho

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

  • At least 44 die as air strike hits Libya migrant detention centre – UN
  • Libya’s Tripoli Mitiga airport resumes air traffic following air strike
  • Algeria interim leader says dialogue and elections only democratic solutions
  • Nigeria’s NNPC says it paid debts owed to Mobil Producing Nigeria
  • Industry doubts remain over Ivory Coast, Ghana cocoa floor price
  • Eastern Libya forces attack drone control room at Tripoli base
  • Sudan’s military rulers and opposition alliance meet for talks in Khartoum
  • Burkina Faso urged to avoid curbs on security reporting
  • Nigeria sex traffickers fleeing hotspot for new havens, activists warn
  • South Africa’s rand steady as trade woes hit EM currencies, stocks dip
  • Morocco’s Q2 economic growth slows to 2.6% – planning agency
  • Sudan’s military rulers pardon 235 detained members of Darfur rebel group – state tv
  • Africa Oil – Nigerian diffs firm on US imports of European gasoline
  • Mozambique says militants kill 11 in attack near Tanzania border
  • Wanted militant blows himself up in Tunisian capital
  • UN’s Bachelet says Sudan protests biggest yet, time for transition
  • More than 100 civilians killed in South Sudan violence after peace deal – UN report
  • South Africa weighs new support measures for struggling Eskom
  • Kenya private sector activity jumps in June – PMI
  • Uganda shilling unchanged as banks’ and importer demand flat
  • Zimbabwe runs out of passports, adding to long list of shortages
  • Premium prices attract small farmers back to coffee growing in Zimbabwe
  • South African business confidence slightly higher in June
  • Naspers picks Mahanyele-Dabengwa as CEO for South Africa
  • Zimbabwe president says needs to import 800k tonnes of maize – media
  • At least 30 killed in hit on Tripoli migrant centre – UN
  • Egypt non-oil private sector slows for second month – PMI

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

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