#Africa #Markets | 12 Sep

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks hit 6-wk high on trade war hopes ahead of ECB
  • US & China extend olive branches before trade talks
  • China stocks & yuan rise on renewed optimism
  • Focus on how far ECB will ease policy

Oil Markets

  • Oil rises as US, China swap concessions in trade war, inventories fall
  • Brent up 0.7% at $61.22 (0051GMT)
  • WTI up 0.7% at $56.16

Precious metals

  • Gold slips as thaw in Sino-US trade woes lift equities
  • Spot gold down 0.4% at $1,491.86/oz. (0117GMT)
  • US gold futures down 0.3% at $1,499.50/oz.

Grains

  • Soybeans gain; all eyes on USDA report
  • Wheat futures up 0.2% at $4.78-1/4 per bushel (0105GMT)
  • Corn futures up 0.4% at $3.61-1/2 per bushel
  • Soy futures up 0.7% at $8.72-1/2 per bushel
  • Rice futures down 0.1% at $12.09 per hundredweight

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

  • South Africa mining production Jul-19 [fcst. 4.2% yy, prev. -4.2%]
  • Gambia’s Barrow in Qatar
  • 5th Investing in Africa forum in Brazzaville; 10-12 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]

  • Germany aims to host Libya conference to stabilise oil producer
  • Nigeria tribunal rejects bid to overturn Buhari’s election
  • Mugabe’s body brought home but Zimbabweans unsure of his burial place
  • Mali jihadists say attack on passenger bus was targetting French troops
  • Africa Oil – Nigerian diffs robust on rare Asian demand
  • Sudan’s ruling council, rebel leaders agree on peace talks roadmap
  • Mozambique to continue debt restructuring talks despite ‘tuna bond’ court ruling
  • Egypt to start work on $2.4 bln telecom network for first phase of new capital city
  • South Africa’s rand falls on growth worries, Naspers slumps
  • Nigeria LNG says it moves closer to Train 7 investment decision
  • South Africa’s Aspen posts FY earnings decline, pays no dividend
  • Foreign investment in Egypt treasuries hits $20 bln at end of August – minister
  • South Sudan parties agree to form interim govt by Nov. 12
  • Zimbabwe sets up monetary policy committee to boost confidence
  • Britain agrees post-Brexit trade deal with southern Africa
  • Kenya lawmakers discuss court-ordered changes to rate cap law
  • Zambia central bank opposes bid to remove oversight of public debt
  • South Africa’s business confidence slumps to 2-decade low in third quarter
  • Ivory Coast, Ghana looking to regulate cocoa industry’s sustainability schemes – sources
  • ‘We just have to brave it’: Women face assault on Zimbabwe’s public buses
  • Uganda shilling expands gains amid depressed dollar appetite
  • Uganda leader calls for eye-for-an-eye sentences after nephew murdered

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

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