#Africa #Markets | 15 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares pull ahead after encouraging Chinese data
  • MSCI ex-Japan reverse losses; Chinese, HK shares bounce off lows
  • MSCI ex-Japan fell 1% last week after 5 straight weekly gains
  • Chinese Q2 GDP in-line with consensus, monthly activity data upbeat
  • Morgan Stanley says re-enters short USD/JPY trade

Oil Markets

  • Oil prices edge down ahead of expected weak China data
  • Concerns of slowing China growth weigh on oil prices
  • Storm cuts Gulf of Mexico output by 73% – US govt
  • Brent down 6 cents at $66.66 a barrel (0022GMT)
  • WTI down 5 cents at $60.16

Precious metals

  • Gold trades steady ahead of China GDP data
  • Spot gold flat at $1,415.34 per ounce (0100GMT)
  • US gold futures up 0.3% at $1,416.50/oz

Grains

  • US corn jumps 1% to hit 5-yr high; soy firms
  • Most active CBOT wheat futures up 0.4% at $5.25 per bushel (0002GMT)
  • Most active corn futures up 1.2% at $4.64-3/4 per bushel
  • Most active soy futures up 0.5% at $9.36 per bushel
  • Most active rice futures down 0.1% at $11.89 per hundredweight

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

  • South Africa state capture inquiry resumes; former president Zuma to testify
  • South Africa PIC inquiry resumes
  • Gambia’s Barrow in UAE for 3-day state visit
  • Afro-Asia Fintech Festival in Nairobi, Kenya; Kenyatta & Njoroge attending
  • Nigeria inflation Jun-19 [fcst. 11.1% yy, prev. 11.4%]

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

  • As fuel prices rise, firewood rustlers vex rural Kenya
  • Why the cobalt market needs Congo’s “illegal” miners: Andy Home
  • Sudan man shot dead during protest as sides wrangle over transition
  • First ebola case in Congo city of Goma detected
  • Burundi names head of ruling party militia to lead state broadcaster
  • Kenyan blames high-doping offence figures on participation numbers
  • Tanzania’s central bank sacks CEO of state-run bank
  • Final death toll in boat migrant accident off Tunisia rises to 82
  • Thousands demonstrate in Sudan to mark 40 days since deadly crackdown
  • Egypt opens Sneferu’s “Bent” Pyramid in Dahshur to public
  • Tanzania says elephant, rhino populations rebounding after anti-poaching crackdown
  • South Africa confirms plans to block extradition of ex-Mozambique finmin
  • Tanzania central bank fines lender for breaching rules
  • Zimbabwe hikes fuel price again after minister says it’s still cheap
  • Somalia security forces end militant attack on hotel that killed 13 – police officer
  • Algerian protesters push for reforms, man tries to burn himself
  • Congo Republic IMF deal expected to unlock $2 bln in AfDB funds
  • Morocco’s budget deficit grows to 21.8 bln dirhams in first half
  • Africa Oil – Total awarded IOC tender with Suezmax
  • Kenya betting firms say payment systems suspended following govt order
  • More bodies found in Tunisia migrant ship sinking feared to have killed more than 80
  • Ivory Coast bitumen maker SMB expects to double sales in 2 years
  • Italy court says Eritrean in migrant case was victim of mistaken identity
  • Congo rules out using additional trial vaccines to combat ebola
  • South Africa to deploy army to quell violent crime in Cape Town
  • Uganda shilling flat amid limited offshore investor flows
  • Kenya shilling expected to weaken due to importer demand, excess liquidity
  • UN chief calls for more support for cyclone-hit Mozambique
  • South Africa court finds Zuma’s son not guilty over car crash death
  • South Africa’s Sasol opens new chemical plant in east China

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.