#Africa #Markets | 30 Aug

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares at 1-wk top on conciliatory trade tone, stimulus hopes
  • MSCI ex-Japan up 1%, E-minis rise 0.2%
  • US, China to have face-to-face trade talk in September
  • Analysts remained cautious about prospect of trade deal
  • Currencies muted; gold, silver off recent highs

Oil Markets

  • Oil dips after 3 days of gains
  • Brent down 0.2% at $60.98 a barrel (0050GMT)
  • WTI down 0.1% at $56.65 a barrel

Precious metals

  • Gold prices inch down on positive signs for trade talks
  • Spot gold down 0.2% at $1,525.06/oz. (0112GMT)
  • US gold futures down 0.2% at $1,534.50/oz.

Grains

  • Corn faces biggest monthly loss in 5 years; wheat, soybeans ease
  • Most active CBOT wheat futures down 0.9% at $4.68-1/2 per bushel (0011GMT)
  • Most active corn futures down 0.5% at $3.69-1/2 per bushel
  • Most active soy futures down 0.1% at $8.67-1/2 per bushel
  • Most active rice futures unchanged at $11.86 per hundredweight

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

  • South Africa PSCE Jul-19 [fcst. 6.9% yy, prev. 6.9%]
  • South Africa M3 Jul-19 [fcst. 9.1% yy, prev. 9.0%]
  • Kenya inflation Aug-19 [fcst. 6.2% yy, prev. 6.3%]
  • Uganda inflation Aug-19 [fcst. 1.9% yy, prev. 2.6%]
  • 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]

  • African lender says China not trying to lead region into ‘debt trap’
  • Nigerian assets at risk worldwide in $9 bln arbitration case
  • Uganda confirms another ebola case
  • Egypt’s M2 money supply rises 12.1% y/y in July – cbank
  • South Africa – Sibanye-Stillwater in talks over AngloGold Ashanti’s Mponeng mine
  • Tunisia PM urges continued focus on economy after election
  • Ethiopia to hold autonomy referendum for ethnic Sidama in Nov – Fana
  • South Africa’s Aveng to complete asset sales next year
  • Africa Oil – Scarce Nigerian offers cloud price expectations
  • South Africa’s rand firms on improved risk appetite, stocks up
  • South Africa’s Massmart swings to first trading loss in 20 years
  • Tereos Commodities to shut sugar operations in Kenya, South Africa
  • Nigerian assets at risks worldwide in $9 bln arbitration case
  • Despite rosy economic data, Egyptians complain of harder living
  • Sierra Leoneans sue govt for alleged environmental failings at diamond mine
  • Egypt – Cairo candles workshop struggles to survive
  • MTN Nigeria launches money transfer service
  • Tullow Oil’s sale of stake in Uganda project to Total, CNOOC dropped
  • Ivory Coast signs agreement with Toyota to build assembly plant
  • Uganda’s shilling weaker, Kenya’s under pressure
  • Tanzania’s National Bank of Commerce hit with fine over data rules breach
  • Kenya shilling weakens against the dollar
  • Uganda shilling leans on stronger side as charity, commodity flows help
  • West Africa’s historic slave sites bear witness to brutal trade
  • Losses more than double at South African construction group Aveng
  • South Africa’s Woolworths profit falls as Australia charge hurts
  • Designer death? South Africa struggles to bury inequality

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

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