By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stocks rebound, hopes of more stimulus offset virus worries
- MSCI Asia-Pacific ex-Japan shares up 0.5%
- China shares up 1.1%
- Oil prices little changed
- Brent down 0.25% at $43.26
- WTI down 0.22% at $40.84
- Spot gold little changed at $1,797.24/oz.
Oil Markets
- Oil prices steady as clouds gather over fuel demand, looser supply curbs
- Brent steady at $43.37 a barrel (0204GMT)
- WTI up 1 cent at $40.76
Precious metals
- Gold steadies on rising virus fears, US-China tensions
- Spot gold little changed at $1,797.24/oz. (0045GMT)
- US gold futures mostly unchanged at $1,799.70/oz.
Grains
- Wheat firms, set for third straight weekly gain
- Wheat futures up more than 0.5% for the week
- Soybeans little changed for the week
- Corn up more than 0.5% for the week
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- CSIS hosts discussion with opposition leaders from Zambia, Zimbabwe & Tanzania on how covid-19 is impacting African politics
- Nelson Mandela Day (18 Jul)
- Nigeria inflation Jun-20 [fcst. 12.7% yy, prev. 12.4%]
- South Africa state capture inquiry continues
- Key African countries on lockdown or restricted; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- UN aid chief to G20 on coronavirus: ‘Step up now or pay price later’
- Tunisia protesters close main oil pumping station in the south
- Zambia rejects Glencore copper mine’s suspension plan
- Sisi says Egypt won’t stand idle in Libya if security is threatened
- US senior diplomat complains Europe not doing enough in Libya
- Villagers killed in central Mali as mediators seek to restore stability
- Nigeria hopes gold mining reforms can bring in $500 mln a year
- Public, private lending mash-up offers lifeline to virus-hit African firms
- Gabon appoints first woman prime minister amid govt shakeup
- Zimbabwe economy to shrink by 4.5% this year on covid-19, drought
- Egypt’s Sisi meets Libya tribesmen after eastern call to intervene
- Sudan says Ethiopia denies filling the Renaissance dam reservoir
- South Africa renewables firms look for debt savings to lower tariffs
- South Africa’s TFG prices rights issue at 41% discount
- Zambia health minister denies corruption charges in court
- Afreximbank finalises a $3.9 bln Egypt package
- South Africa’s Amplats platinum output fell 41% in Q2, warns FY guidance at risk
- South Africa commits to mobilise funds for SAA rescue
N.B. Full stories of above headlines are available on Reuters
