By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asian stocks drop after Wall Street’s tech rally stumbles
• Nikkei, ASX 200, Kospi all open lower
• Falls more muted than 5% Nasdaq plunge, MSCI AxJ -0.6%
• Dollar & bonds trade firmly, US payrolls eyed
• Brent down 0.5% at $43.83, gold steady at $1,933.28

Oil Markets

• Oil set to post weekly drop on lacklustre demand
• China’s crude import set to slow in Sept – Refinitiv
• High diesel inventory cap US refiners’ utilisation rates
• Brent down 0.4% at $43.88 a barrel (0034GMT)
• WTI down 0.5% at $41.17

Precious metals

• Gold gains as stocks pull back; US jobs data in focus
• Spot gold up 0.3% at $1,935.84/oz. (0304GMT)
• US gold futures up 0.2% at $1,941.80/oz.

Grains

• Soybeans fall from 2-yr high, on course for weekly gain of 1.5%
• Soybean futures up 1.5% for the week
• Corn down nearly 1.5% for the week
• Wheat up nearly 1% for the week

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

• Nigeria eases Covid-19 measures, international flights resume (5 Sep)
• Ivory Coast’s Ouattara meets France’s Macron in Paris
• South Africa’s Eskom reduces power cuts
• South Africa state capture inquiry continues
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

• Algeria’s Sonatrach says 2 oil leakages occurred at the OK1 pipeline due to bad weather
• South Africa telecoms regulator delays spectrum release until 2021
• Nigeria ‘no longer in the business of fixing’ fuel prices, oil minister says
• Libya interior minister restored to post after talks
• Nigeria authorities cite need for more Covid-19 test sample collections
• Nigeria authorities disturbed by low level of coronavirus test sample collection
• Ex-first daughter of Angola Neto say no wrongdoing by husband in Swiss corruption probe
• South Africa’s Eskom to reduce power cuts on Friday
• South Africa franchise restaurant chain Spur to further defer interim dividend payment
• Beyond Covid, Russia’s state grain trader UGC eyes Algeria & Iraq
• WHO aiming for 20% of Africa to get initial Covid jabs from access plan
• Macron to meet Ivory Coast President Ouattara after election u-turn
• Despite coup, France & allies push on with new Mali task force
• Ghana court dismisses MTN’s challenge against market regulator
• South Africa’s Implats earnings up nearly 400% on weak rand, costly metal
• South Africa’s Comair needs $72 mln and to cut 400 jobs, administrators say
• Africa-CDC says all countries should join global Covid-19 vaccine effort
• Long-missed pink flamingos return to Kenya’s Lake Nakuru
• Russia resumes international flights with Egypt, UAE & Maldives

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