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