#Africa #Markets | 20 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares nudge higher on stimulus hopes, recession fears ease
  • Risk aversion eases on stimulus hopes
  • Stocks get a boost, bond yields rebound
  • Chinese shares choppy after loan prime rate cut
  • Traders look to policymakers for stimulus clues

Oil Markets

  • Oil prices slip, but supported by hopes trade tensions could ease
  • OPEC sees bearish oil market for rest of 2019
  • Brent down about 0.1% at $59.71 a barrel (0147GMT)
  • WTI down 0.3% at $56.06

Precious metals

  • Gold firms below $1,500 after slide
  • Spot gold up 0.1% at $1,496.80/oz. (0050GMT)
  • US gold futures down 0.4% at $1,505.90


  • Corn firms on USDA crop condition report
  • Most active CBOT wheat futures up 0.2% at $4.73-1/4 per bushel (0043GMT)
  • Most active corn futures up 0.6% at $3.76-3/4 per bushel
  • Most active soy futures up 0.4% at $8.70-1/4 per bushel
  • Most active rice futures up about 0.1% at $11.04 per hundredweight

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

  • Nigeria’s Buhari retreat for new cabinet; day 2
  • South Africa’s Ramaphosa coordinating council (PCC) inaugural meeting
  • WHO Africa regional conference in Brazzaville; 19-23 Aug
  • 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]

  • Regional Somali airport refues to allow Ethiopian plane to land
  • Pompeo, in call with Egypt’s Shoukry, urges political solution in Libya
  • South Sudan president replaces foreign minister
  • At least 10 Burkina Faso soldiers killed in militant attack
  • Police, soldiers patrol Zimbabwe’s Bulawayo as opposition protest thwarted
  • Africa Oil – Angolan preliminary programme shows slight export drop
  • Chad declares state of emergency in 3 regions due to security problems
  • South Africa’s rand falls as investors weigh local, global risks
  • Egypt to reopen historic Baron Empain Palace after $6 mln restoration
  • Egypt sells 610 mln euros in euro-denominated t-bills – central bank
  • Nigeria c.bank to defend reserves in wake of UK $9 bln court ruling
  • Ex-Sudan president got millions from Saudis, court hears
  • Nigerian dealers seek 1-yr t-bills at 14% as naira weakens – traders
  • Tourism revenue in Tunisia grows 44% y/y
  • Sudan’s ousted Bashir told investigators he got millions from Saudi Arabia – court witness
  • UK $9 bln court ruling impacted Nigeria’s monetary policy – cenbank head
  • Nigeria cbank head meets London fund managers – sources
  • At least 19 dead after fuel truck crash in western Uganda – police
  • Uganda shilling unchanged amid sluggish importer demand
  • Ebola spreads to remote, militia-run Congo territory
  • Egypt’s bourse chairman says he expects IPO of private company this year
  • With reservoirs at risk Sierra Leone capital confronts water crisis

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

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