#Africa #Markets | 14 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks bounce in relief as Trump delays China tariffs
  • MSCI Asia-Pacific index up 0.9%, Nikkei rises 0.6%
  • Trump delays tariffs on some China imports, boosts sentiment

Oil Markets

  • Oil prices drop as data shows surprise climb in US inventories
  • Brent down 0.6% at $60.95 per barrel (0116GMT)
  • WTI down 0.8% at $56.64 a barrel

Precious metals

  • Gold holds steady as political, trade woes persist
  • Spot gold steady at $1,501.73 per ounce (0251GMT)
  • US gold futures down 0.1% at $1,512.10 an ounce

Grains

  • Soybean prices rise on US-China trade hopes
  • Most active CBOT wheat futures up 1.1% at $4.77-1/4 per bushel (0108GMT)
  • Most active corn futures up 0.7% at $3.79-1/4 per bushel
  • Most active soy futures up 0.1% at $8.89-1/2 per bushel
  • Most active rice futures up 1.6% at $11.64 per hundredweight

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

  • 39th SADC summit council of ministers meeting; 13-14 Aug
  • Kenya public workers’ strike action
  • South Africa retail sales Jun-19 [fcst. 3.2% yy, prev. 2.2%]
  • South Africa PIC inquiry continues
  • South Africa state capture inquiry continues [Tentative]

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

  • Battle of Carthage: Tunisia demolishes homes to protect ancient site
  • Nigeria’s president tells cenbank to stop providing FX for food
  • Africa Oil – Nigerian crude overhang slow to clear
  • South Africa’s rand firms on easing trade tensions, stocks down
  • Burundi Youtube child star’s death spotlights malaria epidemic
  • British American Tobacco’s takeover of Twisp wins South Africa approval
  • Ebola “no longer incurable” as Congo trial finds drugs boost survival
  • Ethiopia grants first financial services licence to foreign firm
  • Zambia court adjourns ex-minister graft case that prompted aid freeze
  • South Africa’s AMCU union disappointed by Lonmin wage offer
  • South Africa – Absa’s profit rise clouded by mixed results underneath
  • Uganda shilling steady; traders await central bank rate decision
  • Kenya shilling steady against the dollar
  • South Africa – Steinhoff’s $10 bln debt “too high” – chief executive
  • French troops in Mali anti-jihadist campaign mired in mud and mistrust

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

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