#Africa #Markets | 23 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks shaky before Powell’s speech as growth woes weigh
  • Traders await Fed chair Powell’s Jackson Hole speech
  • Yuan remains at over decade-lows vs dlr, fans trade worries
  • Sterling jumps as traders cling to Merkel’s backstop comments
  • Better than expected European manufacturing PMIs are little help

Oil Markets

  • Oil prices eke out small gains ahead of Fed chair speech
  • Oil prices on track for 2nd weekly gain
  • Brent up 10 cents at $60.02 a barrel (0118GMT)
  • WTI up 3 cents at $55.38

 
Grains

  • Corn set for second straight weekly loss
  • Most active CBOT wheat futures up 0.1% at $4.72 per bushel (0034GMT)
  • Most active corn futures unchanged at $3.71 per bushel
  • Most active soy futures up 0.2% at $8.70-1/4 per bushel
  • Most active rice futures up 0.2% at $11.20 per hundredweight

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

  • Kenya population census; 24-25 Aug (continues for 7 days)
  • Nigeria banking sector statistics expected

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

  • Algeria – Five people killed in stampede at Algiers rap concert
  • WHO says eradicating malaria “can be done”, but first aim is to control it
  • US EXIM Bank seeks vote on $5 bln loan to Mozambique LNG project
  • Leader of Somalia’s Jubbaland, at odds with Mogadishu, wins new term
  • Egypt’s central bank cuts rates by 150 bps after inflation slows
  • Zimbabwe arrests senior opposition official over demonstration
  • Tunisia PM delegates his powers to focus on presidential race
  • Somalia president replaces security chiefs and Mogadishu mayor
  • Algeria court detains former justice minister over alleged corruption
  • South Africa’s Ramaphosa calls for discussion on utilising pension funds for projects
  • South Africa rand gains fade as investors left on edge over Fed
  • Mali’s new mining code ends tax exemptions, shortens regulatory stability
  • Africa Oil – Angolan heavier sweet oil offered at high prices
  • South Sudan makes minor oil discovery, first since independence
  • Zambia determined to find another investor for Konkola mine – mines minister
  • Moody’s sees budget cuts as option for South Africa to absorb Eskom costs
  • Rosneft signs memorandum to develop offshore gas fields in Mozambique – ifax
  • Uganda demands financial records, donor lists of NGOs
  • West African oil hits sweet spot as shipping upgrades to cleaner fuel
  • Egypt raises Sinai investment by 75% in 2019-20
  • President of Somali state of Jubbaland re-elected in divisive vote
  • South Africa’s Exxaro buoyed by equity investments as core profit falls
  • No pot of gold for locals as China mines Sierra Leone
  • South Africa – Budget retailer Mr Price posts lower comparable sales

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.