#Africa #Markets | 4 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks bounce on firmer Chinese lead, pound steadies
  • MSCI Asia-Pacific index up 0.5%, Shanghai stocks rise 0.45%
  • Benchmark US yields hover near 3-yr lows
  • Sterling regains some ground after Johnson setback in parliament

Oil Markets (3 Sep)

  • Oil sinks as manufacturing data feeds global economy worries
  • Brent down 0.7% at $58.26 a barrel
  • WTI down 2.1% at $53.94 a barrel

Precious metals

  • Gold prices steady as economic growth woes dent risk sentiment
  • Spot gold up 0.1% at $1,548.31/oz. (0121GMT)
  • US gold futures steady at $1,555.6/oz.

Grains

  • US wheat futures rebound as harvest pace lags
  • Most active CBOT wheat futures up 0.8% at $4.57-1/4 per bushel (0118GMT)
  • Most active corn futures up 0.3% at $3.62 per bushel
  • Most active soy futures down 0.1% at $8.67-1/2 per bushel
  • Most active rice futures nearly unchanged at $11.98 per hundredweight

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

  • World Economic Forum Africa 2019 in Cape Town; 4-6 Sep
  • South Africa Standard Bank PMI Aug-19 [prev. 48.4]
  • Nigeria Stanbic IBTC PMI Aug-19 [prev. 54.6]
  • Sudan PM to announce new cabinet
  • 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]

  • Bomb explodes under bus in Mali, at least 14 killed
  • Egypt sees lower budget deficit, higher primary surplus in FY 2019/20
  • Tunisia court upholds continued detention of presidential candidate
  • Africa Oil – Angolan diffs edge down
  • South Africa’s rand firms on positive GDP data, stocks flat
  • ‘No safe place’: South African women suffering ‘epidemic’ of violence, activists warn
  • South African police make more arrests as riots spread
  • Ethiopia opposition parties threaten election boycott
  • Sudan’s PM selects members of first cabinet since Bashir’s ouster
  • Zimbabwe state doctors strike over pay as economy struggles
  • Guinea-Bissau police say 1.8 tonnes of cocaine seized in biggest ever haul
  • Nigeria’s economic growth slows for second quarter
  • Tanzania lawmakers protest against expulsion from parliament of critic of president
  • Zambia mining firms say mineral royalties should be capped at 7.5%
  • Sudan’s PM chooses 14 members of first cabinet since Bashir’s ouster
  • South Africa’s gross domestic spending up 3% in second quarter
  • South African economy expands 3.1% in second quarter
  • Uganda shilling flat as commodity export flows help
  • Kenya’s shilling loses ground due to importer demand, liquidity
  • Nigeria’s economy grew 1.94% in Q2 – stats office
  • Engie buys African offgrid solar firm Mobisol
  • Zimbabwe state doctors go on strike over pay
  • Egypt’s non-oil business activity slips back into contraction in Aug – PMI

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

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