#Africa #Markets | 5 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Confirmation of US-China trade talks buoys shares, investor spirits
  • Brexit vote boosts global shares
  • HK tension eases for now, but concerns remain
  • Oil pulls back in Asia after strong rally overnight

Oil Markets

  • Oil prices slip after surprise build in US inventories
  • Brent down 0.3% at $60.52 a barrel (0040GMT)
  • WTI down 0.4% at $56.03

Precious metals

  • Gold eases as equities gain on Brexit, Hong Kong progress
  • Spot gold down 0.5% at $1,544.66/oz. (0133GMT)
  • US gold futures down 0.2% at $1,557.8/oz.

Grains

  • Corn rebounds from 4-mth low, US crop prospects cap gains
  • Most active CBOT wheat futures down 0.1% at $4.60-1/2 per bushel (0042GMT)
  • Most active corn futures up 0.1% at $3.59 per bushel
  • Most active soy futures down 0.1% at $8.74-1/2 per bushel
  • Most active rice futures down 0.2% at $11.96 per hundredweight

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

  • Nigeria special envoy due in South Africa for xenophobia violence fact-finding
  • South Africa EFF’s Malema press conference
  • World Economic Forum Africa 2019 in Cape Town, South Africa; 4-6 Sep
  • 2019 African Green Revolution Forum in Accra, Ghana; 3-6 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]

  • Ebola survivors face kidney problems and risk of premature death
  • Youngest son of Egypt’s ousted Islamist President Mursi dies
  • Nigeria uses tax credits for private firms to boost infrastructure
  • Ivory Coast president appoints new finance and agriculture ministers
  • Nigeria boycotts Africa economic summit over anti-foreign riots
  • Nigeria police says to boost security at embassies, foreign businesses
  • Business leaders urge South Africa’s Ramaphosa to reform faster
  • Nigeria vice president to boycott financial summit in South Africa – foreign minister
  • Africa Oil – Buyers wait for Nigerian offers to ease
  • Under siege in Nigeria, South African businesses shut stores
  • South Africa’s rand extends rally to 4-wk high, stocks up
  • Morocco, Spain to bolster cooperation to curb illegal migration
  • South African court orders release of impounded Tanzanian plane in compensation dispute
  • Uganda oil pipeline plan suspended due to collapse of Tullow-Total deal
  • UN warns of Burundi atrocities as “divine” ruler eyes 2020 election
  • Nigeria state oil company’s trading arm Duke leaves London for Dubai
  • South Africa’s ailing Eskom faces emissions violations, could shut plants
  • Russia’s VTB: Mozambique must restructure loan by year-end
  • Ramaphosa says South Africa must quell attacks on foreigners as summit starts
  • South African defence firm RDM’s turnover hurt by export headaches – CEO
  • Kenya shilling weakens against the dollar
  • Several Shoprite stores in South Africa, Nigeria & Zambia closed
  • Zimbabwe proposes designating health services as essential amid doctors’ strike
  • MTN Nigeria says all stores will be closed after anti-South African attacks
  • Uganda shilling unchanged, inclined on stronger side
  • Egypt net foreign reserves rise to nearly $45 bln in August – cenbank
  • South Africa’s Eskom cannot rule out more power cuts – acting CEO
  • Eastern Libya oil field al-Bayda closes due to maintenance – engineers
  • Kenya PMI falls to 52.9 in August
  • South Africa’s private sector activity contracts again in August – PMI
  • South Africa insurer Discovery reports 12% drop in FY profit
  • Solid core businesses boost South Africa’s Libstar H1 earnings

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

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