#Africa #Markets | 21 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Caution grips Asian shares before Fed minutes, seminar
  • MSCI ex-Japan near flat; Nikkei falls 0.4%
  • Trump says he had to ‘take China on’
  • Eyes on Fed minutes, Jackson Hole meeting for rate outlook

Oil Markets

  • Brent oil rises above $60, buoyed by US inventory drawdown
  • API data shows bigger-than-expected drop in US crude inventory
  • US warns Iran tanker not to deliver oil to Syria
  • Weekly EIA inventory at 1430 GMT
  • Brent up 0.2% at $60.16 a barrel (0136GMT)
  • WTI up 0.2% at $56.25

Precious metals

  • Gold prices hold firm above $1,500, Fed minutes in focus
  • Spot gold down 0.1% at $1,505.42/oz. (0116GMT)
  • US gold futures flat at $1,516.20

Grains

  • Corn firms after 2 days of losses, US crop tour in focus
  • Most active CBOT wheat futures down 0.2% at $4.65-3/4 per bushel (0121GMT)
  • Most active corn futures up 0.1% at $3.69-1/4 per bushel
  • Most active soy futures up 0.2% at $8.69-3/4 per bushel
  • Most active rice futures up 0.1% at $11.29 per hundredweight

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

  • Angola, DRC, Congo & Uganda leaders to meet in Luanda
  • Nigeria’s Buhari to inaugurate new cabinet
  • Sudan’s new joint military & civilian sovereign council to be inaugurated
  • Zambia’s Lungu in India for 3-day state visit
  • South Africa state capture inquiry continues
  • South Africa inflation Jul-19 [fcst. 3.9% yy, prev. 4.5%]

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

  • Solar-irrigated farms face an unexpected threat in Zimbabwe: hungry elephants
  • Sudan forms 11-member sovereign council, headed by military leader
  • Southern Somali state shutters main city, airport ahead of election – senior local official
  • More than a hundred migrants feared dead off Libya coast
  • Zambia says no meeting planned with Vedanta over Konkola mine
  • Africa Oil – Nigerian programmes expected as Angolan diffs set to rise
  • Burkina Faso leader laments “dark stain” after attack kills 24 soldiers
  • Egypt security forces kill 11 suspected militants in Sinai
  • South Africa’s rand pauses recent slide, stocks down
  • Zimbabwe opposition to review strategy in face of “political asphyxiation”
  • Cameroon seperatist leaders condemned to life in prison
  • Libya sends mobile petrol stations to conflict-hit west
  • South Africa to consider new nuclear energy in affordable way
  • Egypt’s Banque du Caire expects to seel minority stake by early 2020
  • Cash-strapped South Africa state arms firm ordered to hand over taxes – union
  • Ghana cashes in on slave heritage tourism
  • South Africa’s Harmony Gold eyes potential in AngloGold Ashanti assets
  • South Africa High Court rules against Denel – union
  • Uganda shilling unchanged as commodity flows match importer appetite
  • Qatar to build new port in Somalia’s Hobyo
  • South Africa will look into modular nuclear technology – energy minister
  • Kenya shilling holds steady against the dollar
  • Zimbabwe police deploy hundreds in Gweru, MDC challenges another protest ban
  • Annual earnings at South Africa’s Shoprite miss estimates
  • Vedanta and Zambia President Lungu to discuss KCM in India
  • South Africa’s Harmony Gold full-year earnings rise 19%

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

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