By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian shares slugged, bonds bought amid trade gloom
• Nikkei fall 2.3%, Asia shares ex-Japan -2%
• Yields, emerging currencies dive amid safe-haven rush
• Yuan under pressure as trade war escalates
• Gold jumps to highest since Apr 2013, oil skids

Oil Markets

• Oil down nearly 2% as trade war shakes confidence
• Brent down 1.5% at $58.45 a barrel (0044GMT)
• WTI down 1.8% at $53.17

Precious metals

• Gold touches over 6-yr peak as risk-off appetite stoked
• Spot gold up 1.2% at $1,544/oz. (0141GMT)
• US gold futures up 1.1% at $1,554.90

Grains

• Soybeans rebound from 3-wk low, fresh round of China tariffs cap gains
• Most active CBOT soybean futures up 0.6% at $8.61-1/2 per bushel (0225GMT)
• Most active corn futures up 0.3% at $3.69 a bushel
• Most active wheat futures down 0.2% at $4.77 a bushel

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

• G7 summit rounds up in France; South Africa’s Ramaphosa, Rwanda’s Kagame, & Senegal’s Sall attending
• 7^th Tokyo International Conference for African Development (#TICAD7); 28-30 Aug [Leaders of Nigeria, South Africa, Mali, Zambia & Senegal to attend]
• South Africa state capture inquiry resumes

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

• Sudan’s sovereign council declares state of emergency in Port Sudan
• African Finance Corporation approves $230 mln loan for Nigeria’s 9mobile
• Algeria’s annual inflation falls to 2.7% in July
• Congo has given over 200,000 people Merck ebola vaccine – govt
• Zambia introduces maize price cap to keep it affordable
• Rate cut to save Telecom Egypt 20% on financing costs – official
• Tanzania central bank threatens hefty fines for lenders over data compliance
• South Africa court impounds Tanzania plane in compensation case – lawyer
• Ethiopia’s opposition parties criticise election law changes
• Tunisia’s Karoui still presidential candidate despite arrest – electoral commission
• Sudan’s ex-president Bashir’s corruption trial to seek bail
• South Africa sets up task team to prevent spread of African swine fever
• Libya – Missile hits Tripoli airport car park, grounding flights for 3 hours
• South Africa to publish Eskom plans in next few weeks
• Ethiopia’s parliament approves electoral, political parties draft bill – Fana
• Tanzania say South Africa impounds Airbus plane
• Zimbabwe police arrest 10 union officials as clampdown deepens
• Zimbabwe offers bigger wage hike for civil servants – unions group
• Splitting South African power firm could take 4 years
• Ebola appears contained in Goma, but flares in other parts of Congo – WHO
• South Africa’s rand firms on weaker dollar after Fed chair speech
• South Africa’s Naspers gets shareholder approval to list unit
• South Africa to roll out out sweeping health reform in stages
• Mali’s new mining code shortens stability period to 10 years – ministry
• Africa Oil – Nigerian October programmes show roughly steady exports
• Zambia will avoid debt default and new loans – finmin
• Tunisia’s Nawara gas field starts, ups national output by 50%
• China Molybdenum’s Congo mine blames mining tax, low metal prices for loss
• South African court denies Zambia leave to appeal in Vedanta case
• Nigeria stocks rally to 3-wk high as investors eye reforms
• Libya’s state oil firm demands pay rise for workers
• Zimbabwe police arrest 10 union officials as clampdown deepens
• Uganda blocks online access to Rwanda newspaper, casting shadow over pact to end tensions
• Uganda shilling trades little-changed amid thin volumes
• Mauritius ends fuel purchase deal with India’s MRPL – sources
• South Africa’s 3-mth t-bill average yield falls to 7.09%
• WHO says eradicating malaria “can be done”, but first aim is to control it
• South Africa to take responsible approach to health reform – presidential aide
• South Africa’s rand firms as deficit fears ease
• South Africa’s Northam Platinum FY profit soars on higher metal prices, solid performance

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