#Africa #Markets | 27 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks, bond yields climb as trade war fears ebb
  • MSCI Asia-Pacific index up 0.3%, Nikkei gains 1.1%
  • Trump predicts trade deal after positive gestures by China
  • Dollar lifted as safe-haven bond yields rise

Oil Markets

  • Oil rises after Trump says China trade deal likely
  • Brent up 0.5% at $58.97 a barrel (0024GMT)
  • WTI up 0.4% at $53.87

Precious metals

  • Gold steady as markets seek clarity on trade war direction
  • Spot gold up 0.1% at $1,528.10 per ounce (0125GMT)
  • US gold futures flat at $1,537.50/oz.

Grains

  • Wheat extends fall on ample supplies; corn struggles
  • Most active CBOT wheat futures down 0.2% at $4.74-1/4 per bushel (0057GMT)
  • Most active corn futures down 0.1% at $3.68 per bushel
  • Most active soy futures down 0.2% at $8.65-1/4 per bushel
  • Most active rice futures unchanged at $11.53 per hundredweight

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

  • 7th Tokyo International Conference for African Development (#TICAD7); 28-30 Aug [Nigeria’s Buhari, et al. already in Tokyo]
  • 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]

  • Africa’s biggest bank targets its smallest shops in fintech deal
  • US increasingly disappointed with Zimbabwe govt – US official
  • US to keep up pressure on Sudan as it discusses lifting sanctions – official
  • Egypt Sawiris eyes mining opportunities at home with new law
  • Eastern Libya forces kill 8 in advance south of Tripoli
  • G7 summit statement issued on trade, Iran, Libya Ukraine & Hong Kong
  • South African rand firms on easing trade tensions, equities down
  • South Africa – Naspers’ Prosus Q2 profit up 31% on Tencent stake – prospectus
  • Zimbabwe state doctors threaten strike over pay
  • New Congo govt shows influence of former president
  • South Africa’s Sasol lowers LCCP earnings, delays start-up dates for units
  • CEO of South Africa firm linked to graft allegations killed in car crash
  • Kenya’s first crude oil export sparks demands over revenue sharing
  • Zimbabwe bails senior opposition official arrested over protest
  • Maroc Telecom signs $1 bln investment deal with Morocco govt
  • Kenya shilling trading in tight range amid excess money mkt liquidity
  • South Africa risks tax revolt, bailouts over govt graft
  • Congo president, PM name govt for 1st time since Dec poll win

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

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