#Africa #Markets | 16 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares inch up as cautious investors await US data, earnings
  • MSCI Asia ex-Japan +0.17%; Nikkei -0.74%
  • US retail sales data in focus
  • Citigroup interest margin decline highlights headwinds for banks

Oil Markets

  • Oil down for a second day as US Gulf of Mexico output returns
  • Brent down 0.2% at $66.38 a barrel (0028GMT)
  • WTI down 0.2% at $59.48

Precious metals

  • Gold steady as investors eye US retail sales data
  • Markets price in 25bp cut by the US Fed
  • Platinum hovers near a 2-mth high
  • Spot gold remains neutral in $1,404-$1,421/oz range – techs
  • Spot gold up 0.1% at $1,415.19 per ounce (0521GMT)
  • US gold futures up 0.2% at $1,416.60 an ounce

Grains

  • Corn eases 1% as USDA tempers fears over crop condition
  • Most active CBOT wheat futures down 0.6% at $5.04-1/2 per bushel (0043GMT)
  • Most active corn futures down 0.9% at $4.43 per bushel
  • Most active soy futures down 0.6% at $9.14-1/2 per bushel
  • Most active rice futures down 0.4% at $11.84 per hundredweight

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

  • Kenya trade week 2019 in Nairobi; 15-21 Jul
  • South Africa state capture inquiry continues; Zuma to continue testimony
  • South Africa PIC inquiry continues
  • Gambia’s Barrow in UAE for 3-day state visit
  • Afro-Asia fintech festival in Nairobi, Kenya; day 2
  • Nigeria presidential election petitions tribunal continues

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

  • Nigeria’s state oil firm awards oil-for-fuel swap deals – sources
  • Africa Oil – Traders await September programmes
  • Egypt revamps law curbing NGOs, critics unimpressed
  • South Africa’s rand, stocks boosted by global risk-on settlement
  • Egypt opens musuem commemorating Nobel laureate Naguib Mahfouz
  • Libya’s H1 oil revenue dips to $10.2 bln
  • Ethiopia premier’s aide named to lead restive Amhara region
  • Ebola spread to east Congo’s Goma massively raises risk – UN
  • Algeria suspends grain agency head in corruption probe – govt sources
  • Abruptly appointed Zambia finance minister to review sales tax plan
  • Defiant at inquiry, South Africa’s Zuma denies breaking law with business
  • Zimbabwe inflation almost doubles, stirring memories of economic chaos
  • With hip hop and bumper home loans, big banks target South Africa’s youth
  • Zambia dollar bonds soar after president swaps finance minister
  • Algeria suspends grains agency head over corruption allegations – govt sources
  • Nigeria consumer inflation falls to 11.22% in June – stats office
  • Treasurer of South Africa’s Eskom quits in latest high-profile departure
  • Jailed Zimbabwe lawmaker facing subversion charges freed on bail
  • South Africa’s Zuma denies having broken law with Gupta family
  • UN calls for hundreds of millions in more aid to fight ebola
  • EM debt soars to record $69.1 trln in Q1 on falling interest rates – IIF
  • Uganda shilling unchanged as tax payments trims demand
  • South Africa’s Zuma tells corruption inquiry there is conspiracy against him
  • 2 ebola health workers killed in eastern Congo
  • Zimbabwe’s annual inflation hits 10-yr high of 175.66%
  • Zambia president removes finmin, appoints central bank deputy governor

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

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