#Africa #Markets | 6 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stock losses deepen as US puts yuan in crosshairs
  • MSCI Asia-Pacific index down 0.85%, Nikkei loses 1.2%
  • Washington determines China a currency manipulator
  • Yuan still weak but retreat stalls on firmer-than-expected fix
  • US treasury 10-yr yield drops to lowest since Oct 2016

Oil Markets

  • Oil pirces edge up but US-China trade war drags
  • Brent up 0.17% at $59.91 a barrel (0149GMT)
  • WTI up 0.13% at $54.76

Precious metals

  • Gold firms near 6-yr peak as trade tensions trigger safe-haven bets
  • SPDR Gold holdings up 0.5% on Monday
  • Dollar slips to 2-wk low
  • Spot gold may fall into $1,441-$1,449/oz range – techs
  • Spot gold steady at $1,462.50 per ounce (0445GMT)
  • US gold futures down 0.1% at $1,475.30/oz

Grains

  • US soybeans fall on USDA crop report
  • Most active CBOT wheat futures down 0.5% at $4.92-1/4 per bushel (0103GMT)
  • Most active corn futures unchanged at $4.14-3/4 per bushel
  • Most active soy futures down 0.1% at $8.67-1/2 per bushel
  • Most active rice futures down 0.2% at $11.41 per hundredweight

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

  • Mozambique election peace pledge agreement signing in Maputo; Namibia’s Geingob attending
  • SADC industrial week & exhibition in Tanzania; 5-9 Aug
  • 2019 AGOA forum in Abidjan, Ivory Coast; 3-6 Aug
  • Malawi opposition mass protest to demand resignation of electoral commission chair

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

  • South Africa’s Royal Bafokeng Platinum H1 loss widens
  • South Africa’s Nedbank posts higher half-year profit
  • Eastern Libya force strikes Misrata air college – source, witness
  • Drone strike on town in southern Libya kills at least 43 – official
  • Nigeria to allow Shi’ite leader to seek medical treatment abroad
  • Uganda presidential hopeful says ally dead after abduction, torture
  • Algeria court orders former ministers held over corruption allegation – state TV
  • Uganda says starts its largest-ever ebola vaccine trial
  • Nigeria’s Access, Union Bank tap local bond market, issue 30 bln naira bonds, as yields fall
  • Tunisia annual inflation eases to 6.5% in July
  • Egypt digital payments company Fawry IPO oversubscribed 30 times
  • Africa Oil – Higher fuel oil margin buoys Angolan, IOC takes Nigerian
  • Gambia to release 3 hitmen who confessed to high-profile killings – minister
  • Tanzania charges journalist, rights groups say case politically motivated
  • South Africa’s rand hits 7-wk low as trade tensions heat up
  • Zimbabwe secures more electricity imports to ease outages
  • Libya’s NOC completes Bouri oil field maintenance – statement
  • Kosmos Energy sees Mauritania, Senegal deal by year-end
  • South Africa’s private-sector activity slips further in July – PMI
  • Kenya shilling holds steady against the dollar
  • Egypt’s non-oil private sector grows for the second time in 2019 – PMI
  • Egypt – 17 dead in car explosion in central Cairo – health ministry

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

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