#Africa #Markets | 9 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks inch up but gains capped by fresh Sino-US trade worries
  • MSCI APAC ex-Japan up 0.2% but still down 2.3% for week
  • Report on Huawei licenses casts new shadow on US-China trade war
  • US treasury yields rise
  • Oil jumps on hopes of more OPEC cuts; Gold holds near 6 yr high

Oil Markets

  • Oil prices rise on expectations of more OPEC output cuts
  • Brent up 0.4% at $57.61 a barrel (0009GMT)
  • WTI up 0.5% at $52.79 a barrel

Precious metals

  • Gold firms above $1,500/oz., on track for second weekly rise
  • Spot gold up 0.3% at $1,504.22 per ounce (0124GMT)
  • US gold futures up 0.4% at $1,515.10 /oz.

Grains

  • Corn, soybeans set for weekly gains ahead of USDA report
  • Most active CBOT wheat futures down 0.2% at $4.97-3/4 per bushel (0109GMT)
  • Most active corn futures down 0.1% at $4.17-3/4 per bushel
  • Most active soy futures up 0.1% at $8.83-1/2 per bushel
  • Most active rice futures unchanged at $11.36 per hundredweight

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

  • Kenya’s Kenyatta on Carribean tour
  • South Africa’s national women day 2019; Ramaphosa to give speech in NorthWest province

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

  • Egypt identifies perpetrator behind Monday’s hospital car bombing
  • Zimbabwe’s Mnangagwa fires minister for “inappropriate behaviour” after corruption charge
  • Uganda says starts its largest-ever ebola vaccine trial
  • Libya restarts production at El Sharara oilfield – engineers
  • Gunmen kill family of seven in restive Ethiopia state
  • South Africa’s rand hits new 11-mth low, stocks firm
  • Sudan’s annual inflation rate climbs to 52.59% in July
  • African Oil – Nigerian August cargoes set to clear
  • Uganda to register, monitor social media influencers
  • Nigeria’s huge Dangote oil refinery delayed until end of 2020
  • South Africa puts initial universal healthcare cost at $17 bln
  • Congo copper output rises 12.5% in Jan-June – central bank
  • African telecoms group MTN says divestment plan on track after first-half sales
  • Zambian currency seen bearish, Nigeria, Kenya and Uganda’s stable
  • Ethiopia grants first financial services license to foreign firm
  • Central African Republic sees sharp decline in violence
  • Glencore Zambia unit closes 2 mine shafts; opposition sees 1,400 job cuts
  • Egypt’s unemployment rate falls to 7.5% in Q2 2019
  • Kenya regulator says shareholders will decide if bank merger goes ahead
  • South Africa’s Ramaphosa wins court case against anti-graft watchdog
  • Egypt headline inflation slows to 4-yr low of 8.7% in July
  • Standard Bank to look at West Africa expansion
  • Kenya’s KCB takeover of National Bank requires 75% acceptance – regulator
  • South Africa’s manufacturing down 3.2% y/y in June
  • Uganda shilling weakens a touch on uptick in interbank demand
  • Kenya shilling holds steady against the dollar
  • South Africa – Sibanye-Stillwater flags improved operating performance
  • South Africa’s Standard Bank first-half earnings rise 5%
  • Seeking to save money, Sierra Leone village gives up FGM

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

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