#Africa #Markets | 7 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Fragile calm returns to stock markets as yuan steadies
  • Asian stocks on course to post first gains in nine sessions
  • Yuan steadies for now, off record-low hit on Tuesday
  • Gold hits 6-yr high, US treasuries row hits global economy

Oil Markets

  • Oil prices drop as US-China trade dispute stokes demand worries
  • Brent down 0.4% at $58.70 a barrel (0039GMT)
  • WTI down 0.4% at $53.43

Precious metals

  • Gold inches up on sustained trade war concerns
  • Spot gold up 0.2% at $1,476.91/oz. (0114GMT)
  • US gold futures up 0.2% at $1,487.60

Grains

  • Corn edges higher, weather outlook and trade war cap gains
  • Most active CBOT wheat futures up 0.4% at $4.85-3/4 per bushel (0142GMT)
  • Most active corn futures up 0.2% at $4.13-1/2 per bushel
  • Most active soy futures up 0.1% at $8.66-1/4 per bushel
  • Most active rice futures unchanged at $11.34 per hundredweight

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

  • SADC industrial week & exhibition in Tanzania; 5-9 Aug
  • Kenya’s Kenyatta in Jamaica on state visit
  • South Africa FX reserves Jul-19 [prev. $49.1B]
  • South Africa SACCI business confidence Jul-19 [prev. 93.3]

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

  • Tunisia’s moderate Ennahda VP Mourou to run in presidential elections
  • Zimbabwe to legalise growing of industrial hemp
  • Libya’s UN-backed govt steps up defence spending as war drags on
  • UN raises aid appeal for Zimbabwe to $331.5 mln, many face starvation
  • Ebola outbreak in east Congo’s main city tests flexibility of response
  • South African rand hits 2-mth low after Moody’s comments on Eskom
  • South African regulator punishes Bank of Baroda
  • African Oil – Angolan clearing on European, Asian distillate demand
  • Egypt’s net foreign reserves rise to $44.917 bln in July – cenbank
  • South Africa’s Eskom urgently needs turnaround plan – Moody’s
  • Zimbabwe opposition plans demonstrations over economy next week
  • Nigeria naira quoted weaker as funds exit bonds
  • GSK ends development of ebola vaccine, hands work to US institute
  • Guinea delays deadline in Simandou iron ore deposit tender
  • Uganda’s Stanbic Bank says pretax up 37% as credit demand grows
  • Smart gas cooking seeks to break African cities’ dirty charcoal habit
  • Water bankruptcy looms for one in four people worldwide, researchers warn
  • Uganda shilling trades flat on thin demand
  • Pact is reached in Mozambique but prospects for peace still uncertain
  • Nedbank demands action on economy as South African profit stagnates
  • Sierra Leone community’s suit against diamond miner shows activist trend
  • On cusp of pan-African trade deal, giant Nigeria clings to protection
  • South Africa’s Royal Bafokeng Platinum posts wider H1 loss

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

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