#Africa #Markets | 25 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares edge up before ECB decision, euro near 2-mth lows
  • Nikkei, Australian shares hit multi-month highs
  • China shares rise on trade talk hopes
  • Euro near 2-mth lows after weak eurozone PMI
  • Market focus on ECB rate decision later in the day

Oil Markets

  • Oil steadies after global demand worries spark fall
  • Brent up 6 cents at $63.24 a barrel (0053GMT)
  • WTI up 12 cents at $55.99

Precious metals

  • Gold prices ease amid firmer dollar; markets eye ECB meet
  • Spot gold down 0.2% at $1,422.31 per ounce (0120GMT)
  • US gold futures steady at $1,423.50 an ounce

Grains

  • Wheat edges lower, global production concerns limit losses
  • Most active CBOT wheat futures down 0.3% at $4.96-1/4 per bushel (0107GMT)
  • Most active corn futures down about 0.1% at $4.30-1/2 per bushel
  • Most active soy futures nearly unchanged at $9.08-1/2 per bushel
  • Most active rice futures up 0.2% at $12.06 per hundredweight

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

  • Kenya central bank governor Njoroge post-MPC briefing
  • South Africa deputy president Mabuza to answer questions in parliament
  • Kenya’s Kenyatta to launch Bidco Industrial Park in Ruiru, Kiambu county
  • 23rd EAC monetary affairs sub-committee meeting in Kigali; 24-28 Jul
  • South Africa producer inflation Jun-19 [fcst. 5.9% yy, prev. 6.4%]
  • Nigeria’s Buhari cabinet screening by Senate; day 2
  • Zimbabwe’s Mnangagwa in Namibia for state visit; 24-26 Jul
  • Policy dialogue by Nigeria’s ruling APC party (24-25 Jul); day 2
  • South Africa’s Malema in Mpumalanga ahead of EFF 6th anniversary on 27 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]

  • Tunisia president hospitalized after health scare – president’s son
  • Nigeria state oil firm has not paid Eni’s cash call payments for 3 months
  • MTN shakes up Nigeria board, appoints ex-telecoms regulatory chief as next chair
  • Namibia plans to add 220MW to electricity grid by 2023
  • Sudan military says it thwarts coup attempt, arrests senior officers
  • Algeria’s state power firm to seek foreign loans to fund projects
  • Suicide attack kills six at Mogadishu govt HQ – official
  • Sudan military says it thwarts coup attempt, arrests senior officers
  • IMF to disburse final $2 bln tranche of Egypt loan – cbank
  • Africa Oil – Glut of light sweet crude lowers Nigerian prompt prices
  • China firms to build gold smelter, refineries in Tanzania
  • Zimbabwe cbank eases forex rules for some in bid to improve dollar flows
  • South African rand firmer as markets eye ECB, Fed meetings
  • Mayor of Mogadishu, other officals hurt in Somalia suicide blast – relative
  • Negative yields see record euro borrowing from EMs
  • World Bank readies $300 mln to cover half of new ebola response
  • Google goes Nigerian with local content, ‘informal’ transit routes
  • Kenya central bank holds main lending rate at 9.0 pct
  • Kenya appoints Yatani acting finmin after Rotich graft charges
  • South Africa’s Sanlam appoints finance director as CEO of Sanlam Emerging Markets
  • South Africa’s Kganyago calls central bank ownership debate ‘damaging’
  • Uganda shilling unchanged as interbank and importer appetite ebbs
  • UK Supreme Court to hear Nigerians’ case for pursuing Shell spill claim in England
  • South Africa’s June inflation flat at 4.5%, bolstering case for rate cuts
  • Kenya shilling holds steady against dollar

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

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