#Africa #Markets | 19 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks rise as stimulus, policy hopes calm nervous investors
  • MSCI Asia-Pacific index up 0.25%, Nikkei gains 0.7%
  • Equities up amid hopes for German stimulus, China rate steps
  • Safe-havens such as US treasuries, yen fall back
  • Oil gains along with equities, OPEC still bearish in outlook

Oil Markets

  • Oil rises after Saudi oilfield attack, but recession worries cap gains
  • Yemen’s Houthi drone attack on Saudi oilfield causes gas fire
  • OPEC see bearish oil market for rest of 2019
  • US drillers add oil rigs for 1st week since June – Baker Hughes
  • Brent up 0.8% at $59.09 a barrel (0035GMT)
  • WTI up 0.7% at $55.26

Precious metals

  • Gold prices fall on stronger dollar, equities
  • Spot gold down 0.5% at $1,506/oz. (0114GMT)
  • US gold futures down 0.4% at $1,517.60

Grains

  • Corn prices drop on ample US production
  • Most active CBOT wheat futures down 0.8% at $4.73-1/2 per bushel (0117GMT)
  • Most active corn futures down 1.3% at $3.75-3/4 per bushel
  • Most active soy futures down 0.6% at $8.74-1/2 per bushel
  • Most active rice futures unchanged at $11.20 per hundredweight

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

  • Rwanda’s Kagame state visit to Namibia; 19-21 Aug
  • Ghana’s Akufo-Addo to open AfCFTA conference in Accra; 19-21 Aug
  • South Africa’s state capture inquiry resumes
  • Nigeria federal revenue allocation committee meeting

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

  • With reservoirs at risk, Sierra Leone capital confronts water crisis
  • Nigeria awards crude-for-product swap deals to 15 firms
  • Zimbabwe police ban opposition protest planned for Monday
  • Sudan opposition coalition appoints five civilian members of sovereign council
  • Africa development bank says risks to growth ‘increasing by the day’
  • Eastern Libya forces damaged civilian airport in western Libya – UN
  • Egypt’s Sisi promotes Suez deputy chairman to head Canal Authority
  • Sudan army and civilians seal interim power-sharing deal
  • Sudan military names 3 members for sovereign council – Sky News Arabia
  • Libya reopens southern airport closed since 2014
  • Zimbabwe opposition backs down from protest to avoid “blood in the streets”
  • Leader of Kenya drug organization sentenced to 25 years in US
  • UK judge to allow firm to try to seize $9 bln Nigeria assets in gas dispute
  • Ebola spread to new Congo area shows flawed response – aid workers
  • Africa Oil – Angola October programmes begin to emerge
  • China’s Huayou pulls out of Congo cobalt mine investment after price slump
  • South Africa’s 3-mth t-bill average yield slips at 7.13%
  • Nigeria annual inflation at 11.08% in July – stats office
  • Zimbabwe opposition calls off protest after failed court bid to lift ban

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

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