#Africa #Markets | 30 Jul

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks gain ahead of Fed, pound pressured by fresh Brexit pain
  • MSCI Asia-Pacific index up 0.35%, Nikkei climbs 0.7%
  • Pound hits 28-mth low on heightened no-deal Brexit woes

Oil Markets

  • Oil prices rise ahead of expected US interest rate cut
  • Brent up 0.5% at $64.01 a barrel (0013GMT)
  • WTI up 0.6% at $57.21

Precious metals

  • Gold dips on stronger dollar, Fed meet in focus
  • Spot gold down 0.3% at $1,422.81 per ounce (0128GMT)
  • US gold futures up 0.2% at $1,422.50

Grains

  • Corn falls for fifth session on USDA crop report
  • Most active CBOT wheat futures down 0.3% at $5.02 per bushel (0048GMT)
  • Most active corn futures down 0.3% at $4.25-3/4 per bushel
  • Most active soy futures down 0.1% at $9.05 per bushel
  • Most active rice futures down 0.2% at $12.29 per hundredweight

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

  • East African Community central bank governors to meet in Kigali, Rwanda
  • India president Kovind state visit to The Gambia
  • South Africa’s ruling ANC post-NEC media briefing
  • Kenya inflation Jul-19 [fcst. 7.0% yy, prev. 5.7%]
  • Uganda inflation Jul-19 [fcst. 3.4% yy, prev. 3.4%]

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

  • Chaos and fear in Libya’s Mitiga airport after missiles halt air traffic
  • Morocco’s king seeks new development model, urges govt reshuffle
  • 4 school children shot dead at Sudan protest – opposition campaigners
  • Nigeria’s central bank awards financial services license to MTN subsidiary
  • Morocco economy falls short of meeting social demands, central bank says
  • Ramaphosa is “last hope” for South Africa, Chinese diplomat says
  • South Africa’s rand regains ground; Eskom bonds fall
  • UN calls for Eid truce in Libya, warns foreign support fueling conflict
  • Oil unit of Nigeria’s Dangote refinery sets sail from China – Sinopec
  • Africa Oil – Nigerian market long; Angolan steady
  • South African utility Eskom’s chairman adds on interim CEO role
  • Uganda to start new vehicle production by June 2022
  • Senegal to crack down on huge plastic waste by enforcing law
  • South Africa’s Eskom dollar bonds slip as hunt for CEO continues
  • Kenya ruling that corruption suspect must step down seen having wider impact
  • Nigeria court adjourns bail hearing for leader of banned Shi’ite group
  • South Africa’s Gordhan wins reprieve from public protector’s orders
  • South Africa court suspends public protector’s orders against Gordhan
  • Uganda shilling holds steady against the dollar
  • Kenya shilling under pressure from end month dollar demand
  • African cattle investing – the new cash cow?
  • South Africa’s rand steady; focus on unemployment, trade data
  • South African credit demand growth slows to 6.91% in June

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

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