#Africa #Markets | 13 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares tumble as Hong Kong unrest, Argentine peso crash unnerve investors
  • Hong Kong protests unsettle markets
  • Sentiment already weak due to US-China trade war
  • Risk-off trades supports safe-haven assets

Oil Markets

  • Oil prices edge down as traders weigh slowing demand against supply curbs
  • Brent down 0.2% at $58.46 a barrel (0108GMT)
  • WTI down 0.2% at $54.81

Precious metals

  • Gold firms near 6-yr peak on risk-off sentiment
  • Spot gold up 0.3% at $1,515.21/oz. (0116GMT)
  • US gold futures up 0.5% at $1,525.10


  • Chicago corn prices fall near 3-mth low on US crop outlook
  • Most active CBOT wheat futures down 0.4% at $4.70 per bushel (0011GMT)
  • Most active corn futures down 2% at $3.85 per bushel
  • Most active soy futures down 0.1% at $8.78-1/4 per bushel
  • Most active rice futures nearly unchanged at $11.57 per hundredweight

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

  • Botswana’s Masisi working visit to Angola
  • Ghana Karpowership to be off power grid (up to 17 days) during move to Western Region in 13-16 Aug
  • Guinea’s Conde cultural visit to Nigeria continues
  • South Africa PIC inquiry continues
  • South Africa state capture inquiry continues

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

  • Scientists hail promise of first effective ebola treatments in Congo trial
  • Congo Republic oil find could quadruple national output – company
  • Africa Oil – Indian tender helps mop up Nigerian overhang
  • South Africa’s rand slips to near 11-mth worst as local politics weigh
  • South Africa’s Absa bank says has found new CEO, to be named in due course
  • South Africa’s Northam Platinum expects FY profits to rise by over 100%
  • Geneve prosecutors indict billionaire Steinmetz in Guinea corruption case
  • Congo trial of ebola treatments switches to focus on two drugs
  • Uganda shilling unchanged amid some commodity flows, flat importer demand
  • ‘Green gold’: Kenya farmers abandon food crops to grow herbal stimulant
  • South Africa’s Ramaphosa wins latest round of legal fight with anti-corruption watchdog
  • South Africa’s rand weaker as local politics weigh

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

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