#Africa #Markets | 26 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slip on mixed US earnings, ECB rate hold
  • S&P 500 slips from record high after earnings disappointment
  • Alphabet, Intel jump in after-hour trade
  • Bond yields off lows after ECB holds off rate cuts
  • ECB widely seen easing its policy in Sept

Oil Markets

  • Oil drops after poll points to slower global growth
  • Brent down 0.4% at $63.15 a barrel (0049GMT)
  • WTI down 0.1% at $55.97

Precious metals

  • Gold ticks up ahead of US GDP data; set for weekly drop
  • Spot gold up 0.2% at $1,417.55 per ounce (0130GMT)
  • US gold futures up 0.2% at $1,417.10


  • Soybeans set for weekly drop of 2% as China demand stalls
  • Most active CBOT soybean futures down more than 2% so far this week
  • Most active corn futures down nearly 2% for the week
  • Most active wheat futures slipped nearly 1% on-week
  • Most active wheat futures down 0.1% at $4.99 per bushel (0400GMT)
  • Most active corn futures down about 0.1% at $4.27-1/4 per bushel
  • Most active soy futures up about 0.1% at $9.00-1/4 per bushel
  • Most active rice futures down 0.3% at $12.10 per hundredweight

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

  • Liberia independence day; Nigeria’s Buhari attending celebrations in Monrovia
  • South Africa’s EFF 6th anniversary activities; main event on 27 Jul
  • South Africa’s ruling ANC executives to meet
  • Zimbabwe’s Mnangagwa in Namibia for state visit; 24-26 Jul
  • Screening of Nigeria’s Buhari cabinet nominees continues; day 3
  • South Africa central bank annual general meeting
  • Tanzania’s Magufuli to kick off $3 bln 2,115MW hydropower project
  • South Africa state capture 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’s Essebsi, leading figure in shift to democracy, dies at 92
  • Deployment of second ebola vaccine would not be quick fix, experts warn
  • Algeria names panel to oversee dialogue, hold presidential election
  • Islamic State says it kidnapped 6 aid workers in northeast Nigeria
  • Tunisia presidential election to take place on Sept 15 – Electoral Comm
  • Act now to avert disaster in drought-hit East Africa, aid agencies say
  • South Africa’s rand hits 2-wk low on Moody’s warning over Eskom
  • Africa Oil – Angolan sales up on Asian margins
  • Somalia – Mogadishu mayor, once a London councillor, wounded in a blast
  • Tunisia parliament speaker sworn in as new president
  • IMF says ready to aid Congo in ebola crisis if needed
  • South Africa sees new LNG import terminal ready by 2024
  • Kenya’s central bank chief plays down impact of Rotich charges
  • South Africa’s Momentum Metropolitan to buy Alexander Forbes’ short-term insurance unit
  • UNHCR says up to 150 people may have died in shipwreck off Libya
  • Africa FX – Kenya currency seen on back foot, Tanzania, Uganda, Zambia’s firm; in week ahead
  • Zambia finance minister sees 2019 GDP growth at 2.5%
  • Deployment of second ebola vaccine would not be quick fix, experts warn
  • After a long journey, 16 rare black rhinos make a new home in eSwatini
  • Uganda shilling trades unchanged, charity flows offer support
  • Zimbabwe tourism minister detained by new anti-corruption agency
  • Kenya’s central bank says no target rate for the shilling
  • South Africa’s rand wobbled by Moody’s warning over Eskom bailout
  • China exports gasoline to Mexico, Nigeria amid overflowing output
  • Kenya shilling drops to its lowest level in nearly 2 years
  • Kenya central bank governor says growth predicted to hit 6% in 2019
  • Moodys’s says new Eskom support credit negative for South Africa
  • South Africa committee could get March 2020 deadline for land reform
  • South Africa’s Vodacom Q1 revenue rises on international business
  • CNOOC halts field work at western Uganda project over ebola fears
  • South Africa’s Sasol forecasts higher annual core earnings

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

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