#Africa #Markets | 29 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Bond yields near record lows, shares struggle on darkening global outlook
  • Yields on US 30-yr bonds, 10-yr German bunds at record low
  • Gold near 6-yr high, silver shines
  • Stocks in Asia flat in early trade

Oil Markets

  • Oil prices hold gains after US inventory drawdown
  • Brent down 0.1% at $60.42 a barrel (0011GMT)
  • WTI up 0.1% at $55.84 a barrel

Precious metals

  • Gold prices rise on economic political turmoil
  • Spot gold up 0.2% to $1,542.35/oz. (0142GMT)
  • US gold futures up 0.1% at $1,550.50/oz.

Grains

  • Corn firms, lingers near 1-wk high on weather outlook
  • Most active CBOT wheat futures up 0.1% at $4.75-3/4 per bushel (0045GMT)
  • Most active corn futures up 0.7% at $3.73-3/4 per bushel
  • Most active soy futures up 0.2% at $8.67-1/4 per bushel
  • Most active rice futures unchanged at $11.65 per hundredweight

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

  • South Africa producer inflation Jul-2019 [fcst. 5.6% yy, prev. 5.8%]
  • 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]

  • At least 7 people die in flash floods in southern Morocco
  • More than 50 abducted on attack on northwest Nigerian village – residents
  • From Yemen to South Sudan, climate & water stress seen worsening conflict
  • Nigeria closes part of border with Benin to check rice smuggling
  • South Africa’s Aveng delays release of full-year results until Aug 29
  • Africa – More people, less water? Scientists see risks on upper Nile
  • Africa Oil – Angolan offers pared back
  • South Africa’s rand dips as investors tread cautiously, stocks up
  • South Africa’s Eskom may need more bailouts if funding plan fails
  • Zambia opposition leader arrested, accused of defaming president – lawyer
  • US gives Tunisia $335 mln in financial aid over 5 years
  • Congo intelligence service orders audit of interim govt spending
  • Tunisia’s Zbidi says he will amend constitution if elected president
  • Kenya anti-graft body halts Telkom, Airtel merger to conduct probe
  • Kenya shilling under pressure amid end-mth dollar demand
  • Uganda rejects planned power plant at Murchison Falls
  • South African drugstore Dis-Chem benefits from medicine price hike
  • Uganda shilling unchanged amid thin trading volumes
  • Russia state-controlled grain trader looks to sell grain to Egypt
  • Kenya anti-graft body EACC suspends planned merger of Telkom Kenya, Airtel Kenya – spokesman
  • South Africa’s Eskom may need more bailouts by end-March – Treasury
  • Kenya’s Nation Media Group first-half profit falls 24%
  • South Africa’s Adcock Ingram posts higher FY profit, unloads Ghana investment
  • South Africa’s Bidcorp full-year profit rises 12.5%
  • Noble Energy makes oil discovery off Equatorial Guinea – minister

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

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