#Africa #Markets | 2 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Trump’s tariffs jolt global stocks, trigger rush to safety
  • Trump to impose 10% tariffs on rest of US imports from China
  • Interest rate futures price on Fed rate cut in Sept
  • Yen marks biggest gain in 2 years, gold near 6-yr high
  • US stock futures down 0.4%, European futures down 1.9%

Oil Markets

  • Oil prices steady after Trump trade tariffs spark plunge
  • Brent up 1.1% at $61.17 a barrel (0049GMT)
  • WTI up 0.9% at $54.45

Precious metals

  • Gold prices retreat from 2-wk high, but head for weekly gain
  • Spot gold down 0.9% at $1,432.15 per ounce (0139GMT)
  • US gold futures up 1% at $1,445.90

Grains

  • Soybeans edge higher, but set for biggest weekly drop in 3 mths
  • Most active CBOT wheat futures up 0.6% at $4.78-3/4 per bushel (0034GMT)
  • Most active corn futures up 0.6% at $4.04-3/4 per bushel
  • Most active soy futures up 0.1% at $8.66-1/4 per bushel
  • Most active rice futures down 0.1% at $11.94 per hundredweight

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

  • 2019 AGOA forum in Abidjan, Ivory Coast; 3-6 Aug

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

  • Rwanda border with ebola-hit Congo fully open after slowdowns – minister
  • Zimbabwe’s GDP to shrink as power price hikes pile on economic misery
  • Egypt’s Fawry raises $22 mln in private placing ahead of IPO
  • Mozambique sues Privinvest CEO for fraud after debt scandal
  • Ethiopia’s PM says “people from abroad” had role in June twin attacks
  • At least 4 killed by gunfire in Sudan protest – opposition medics
  • South Africa – Fashion retailer Truworths forecasts lower annual core earnings
  • Kenya’s Equity Bank boosted by loan growth, sees rate cap removed
  • Egypt’s Fawry private offering 15.9 times oversubscribed on stock exchange – statement
  • Africa Oil – Angolan clearing amid strong margins
  • Rwanda says its border with Congo remains open
  • South Africa’s rand slides as lengthy Fed easing ruled out, stocks rise
  • Power crisis turns night into day for Zimbabwe’s firms and families
  • Somalia – Mogadishu mayor dies in Qatar while getting treatment for wounds
  • Zimbabwe to replace empowerment law – finmin
  • South Africa’s treasury increases weekly bond issuance
  • ‘Peace here to stay’ Mozambique president, opposition say on signing ceasefire
  • Zimbabwe hikes electricity tariffs with immediate effect
  • Zimbabwe’s economy to contract in 2019 – finmin
  • Nigeria central bank intervening to prop up naira, trader says
  • Nigeria oil union threatens industrial action in Chevron dispute
  • South Africa – Woolworths sees annual profit hit, writes down Australian business
  • Libya’s NOC, Italy’s Eni boost production at gas field
  • Kenya’s shilling strengthens after central bank sells dollars – media
  • Uganda shilling holds steady against the dollar
  • Third ebola case confirmed in East Congo city of Goma
  • Congo says Rwanda has closed border near Goma
  • South Africa’s Absa PMI expands for first time in 7 mths
  • Sudan army commander says security force at a bank killed protesting children – SUNA
  • South Africa’s Sappi buys Canadian paper mill, Q3 profit falls
  • ArcelorMittal South Africa to buy steel manufacturer, swings into H1 loss
  • South Africa’s Liberty posts 53% gain HY profit as turnaround strategy pays off
  • Athletics – IAAF hails South Africa’s Semenya decision as victory for ‘parity’

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

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