#Africa #Markets | 23 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Hopes of ECB, Fed rate cuts boost stocks, British pound sags
  • MSCI Asia-Pacific index gains 0.15%, Nikkei adds 0.95%
  • Prospect of Fed, ECB easing support global equities
  • Pound sags with eurosceptic Johnson seen becoming new UK PM

Oil Markets

  • Oil prices ease as traders weigh Middle East tensions, demand
  • Brent down 2 cents at $63.24 a barrel (0121GMT)
  • WTI down 6 cents at $56.16 a barrel

Precious metals

  • Gold dips as dollar hits near 1-wk high
  • Spot gold down 0.5% at $1,417.11 per ounce (0120GMT)
  • US gold futures down 0.5% at $1,419.30 an ounce

Grains

  • Corn edges up from 19-day low on USDA crop report
  • Most active CBOT wheat futures up 0.4% at $4.89-1/4 per bushel (0039GMT)
  • Most active corn futures up 0.6% at $4.29-1/4 per bushel
  • Most active soy futures up 0.3% at $9.08-3/4 per bushel
  • Most active rice futures unchanged at $11.92 per hundredweight

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

  • Nigeria central bank interest rate decision [fcst. 13.0%, prev. 13.5%]
  • South Africa’s Ramaphosa to open “25 years of democracy” conference at University of Johannesburg; 23-24 Jul
  • Kenya cabinet reshuffle, finimin et al. arraignment expected
  • 9th session of Namibia-Zimbabwe joint commission in Windhoek; 22-34 Jul
  • Botswana’s Masisi in Kenya for 3-day state visit; arrived yesterday
  • West Africa ports & rail evolution forum in Lagos; 22-23 Jul
  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues

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

  • Morocco lawmakers vote to bolster French in education system
  • ‘This is our land’: Uncertain futures for Ugandans facing eviction from wildlife reserve
  • Nigeria police, Shi’ite group clash in capital, at least 3 dead
  • Libya’s Mitiga airport halts air traffic after air strike – statement
  • Nigeria police say senior officer killed as Shi’ite protest turns violent
  • Congo minister’s resignation over ebola snub could unblock new vaccine
  • Guinea seeks developers for Simandou iron ore deposit
  • Africa Oil – Activity slow despite OSP price drop
  • South African rand firmer as carry trade trumps political wrangling
  • Eastern Libya forces warplane makes emergency landing in Tunisia, pilot held – LNA
  • Zimbabwe vice president in China to receive treatment for unknown illness
  • Kenya finance minister arrested on graft charges
  • South African court ruling could undermine public protector
  • Congo health minister resigns in protest over govt handling of ebola response
  • Nigeria agrees plan with Siemens to nearly triple power supply by 2023
  • At least 17 killed in bomb attack in Somalia capital
  • South Africa allcoates extra $4.2 bln for cash-trapped Eskom
  • South Africa’s top court says public protector acted in bad faith
  • Libya warplane lands on road in southern Tunisia
  • Uganda shilling little-changed amid limited importer demand
  • Kenya shilling weakens against the dollar
  • UK to send 250 troops to Mali for peacekeeping operations
  • Libya’s Sharara oilfield resumes output after brief outage
  • Zimbabwe’s Econet weighs drastic measures over ‘untenable’ power cuts
  • Kenya police arrest finmin on corruption charges, official says
  • Kenya dollar bonds slip after finmin to be arrested and charged over graft
  • Morocco’s CPI slows to 0.2% in June – Planning agency
  • Zimbabwe increases fuel prices again, but pumps remain dry
  • Kenya’s TransCentury, EA Cables say complete debt restructuring
  • Kenya’s Consolidated Bank extends its bond maturity by 3 months

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

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