#Africa #Markets | 3 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks dented by trade war, Brexit showdown paralyses pound
  • British pound rocked by Johnson’s election threats
  • US bond yields up slightly after sharp fall in Aug

Oil Markets

  • Oil falls as South Korea growth revision highlights trade war impact
  • Brent down 7 cents at $58.59 a barrel (0055GMT)
  • WTI down 32 cents at $54.78

Precious metals

  • Gold prices ease as firmer dollar weighs
  • Spot gold down 0.3% at $1,525.64/oz. (0111GMT)
  • US gold futures up 0.3% at $1,533.8/oz.

Grains

  • Wheat hovers near 4-mth low on global supply glut
  • Most active CBOT wheat futures down 0.1% at $4.62 per bushel (0038GMT)
  • Most active corn futures down 0.2% at $3.69 per bushel
  • Most active soy futures down 0.7% at $8.63-1/4 per bushel
  • Most active rice futures down 0.3% at $11.92 per hundredweight

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

  • South Africa GDP Q2-2019 [fcst. 2.0% qq saa, prev. -3.2%]
  • Nigeria GDP Q2-2019 [fcst. 2.5% yy, prev. 1.9%]
  • South Africa ABSA manufacturing PMI Aug-19 [prev. 52.1]
  • South Africa’s Ramaphosa to meet global leaders “The Elders”
  • Arrivals for WEF Africa 2019 in Cape Town; 4-6 Sep
  • 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]

  • Nigeria insecurity requires urgent attention, UN rapporteur warns
  • South Africa mining union says de-registration halted
  • Former Congo health minister questioned over ebola spending
  • Africa Oil – Nigerian August export volume to China spikes
  • South African rand flat as investors await GDP data
  • Burkina Faso coup leaders given lengthy jail sentences
  • Algeria army chief calls for elections this year
  • Kenya’s central bank approves Kenya’s KCB Group acquisition of NBK
  • Fifteen dead in building collapse in Mali’s capital
  • South African fuel prices inch up in Sept after rand slide
  • Egypt ending of monthly customs rate may raise inflation – analysts
  • South African police dozens after riots in Johannesburg
  • German minister calls colonial-era killings in Namibia “genocide”
  • Tunisia candidates start their presidential campaigns
  • Botswana to hold national & local elections on Oct. 23
  • Uganda shilling biased toward stronger side on flat importer appetite
  • Egypt’s natural gas production rises to 7 bln cubic feet per day – senior official
  • Kenya shilling weakens due to energy sector demand, excess liquidity
  • Egypt’s fuel subsidy bill falls to around $5.15 bln in FY 2018-2019 – senior official
  • South Africa’s RCL Foods reports 60.8% drop in full-year earnings
  • South Africa’s Old Mutual reports 10% rise in half-year profit

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

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