By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian stocks find modest support on firmer US futures
- Shares stabilise but risks to global economy remain
- Treasury yield curve inversion gets deeper
- Policymakers being forced to support economic growth
Oil Markets
- Oil gains as inventory decline eases recession concerns
- Brent up 0.7% at $59.92 a barrel (0121GMT)
- WTI up 1.0% at $55.50
Precious metals
- Gold holds near 6-yr high on economic gloom
- Spot gold steady at $1,542.90/oz. (0100GMT)
- US gold futures up 0.1% at $1,553.30/oz.
Grains
- Soybeans edge higher, gains checked by US-China trade war
- Most active CBOT soybean futures up 0.2% at $8.60-3/4 per bushel (0058GMT)
- Most active corn futures up 0.1% at $3.66-1/2 per bushel
- Most active wheat futures up 0.2% at $4.77-3/4 per bushel
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- 7th Tokyo International Conference for African Development (#TICAD7) in Yokohama, Japan; 28-30 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]
- Noble Energy makes oil discovery off Equatorial Guinea – minister
- South Africa’s Eskom says first power produced at Medupi’s last unit
- Gambia’s first post-independence president Jawara dies at 95
- Namibia’s central bank forecasts deeper economic contraction in 2019
- Group of Mozambique eurobond creditors to support govt eurobond
- Africa Oil – Spot market muted, Pertamina issues tender
- Zambia court suspends KCM wind-up hearing pending appeal ruling
- Amid safety fears, Burundi to repatriate 200,000 refugees from Tanzania
- Namibia considers withdrawal from wildlife convention unless rhino trade eased
- South Africa’s rand weaker in cautious trade, stocks up
- South Africa’s Eskom could sell coal-fired power plants – finance ministry study
- Nigeria’s central bank stops credit payments for milk imports
- Thousands flee deadly violence in Cameroon’s separatist regions – sources
- UK urges Zambia to fight corruption to unlock aid
- South Africa – Strike action pushes miner Sibanye into the red in first half
- Mozambique eurobond creditor group GGBM to participate in govt debt swap
- Kenya Airways’ problems continue as first-half losses double
- UNHCR says at least 40 feared dead or missing in shipwreck off Libya
- Imperial to exit South Africa consumer business by Sept, mulls Europe shipping unit
- Kenya Airways says H1 pretax loss at 8.56 bln shillings vs 3.99 bln shillings last year
- Nigeria says it will not relinquish assets in $9 bln gas project dispute
- Relaunched Uganda Airlines hopes to win slice of East African travel
- Kenya shilling weakens against the dollar on end-month demand
- Mozambique formally launches restructuring offer for 2023 eurobond
- Africa’s biggest bank targets its smallest shops in fintech deal
N.B. Full stories of above headlines are available on Reuters
