#Africa #Markets | 2 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks start new quarter on front foot, dollar steady
  • MSCI Asia-Pacfic index up 0.3 pct, Nikkei rises 0.55 pct
  • Dollar little changed against euro, yen
  • Crude oil extends gains after drop in US drilling activity

Oil Markets

  • Oil prices rise on lower US drilling activity
  • US WTI crude futures at $65.21 a barrel, up 0.4 pct (0122GMT)
  • Brent crude futures at $69.71 per barrel, up 0.6 pct
  • Shanghai September crude futures at 415.6 yuan ($66.26) per barrel, up 0.9 pct

Precious metals

  • Gold rises on softer dollar, fresh trade worries
  • Spot gold up 0.3 pct at $1,327.71 per ounce (0105GMT)
  • US gold futures up 0.4 pct at $1,332.10 an ounce

Grains (29 Mar)

  • Corn, soy futures soar on bullish USDA plantings forecast
  • USDA sees reduced corn, soy acres in 2018
  • CBOT May wheat futures settled at $4.51 a bushel on Thursday, up 1.2 pct
  • Corn May futures settled at $3.87-3/4 a bushel, up 3.8 pct
  • Soybeans May futures settled at $10.44-3/4 a bushel, up 2.6 pct

Soft commodities (29 Mar)

  • Cocoa falls, raw sugar edges above 2-1/2-year low
  • May London cocoa settled down 2.4 pct at £1,753 per tonne on Thursday
  • May New York cocoa setteld down 1.6 pct at $2,556 per tonne
  • May raw sugar settled up 1.2 pct at 12.35 cents per lb
  • May white sugar settled up 1 pct at $351.20 per tonne
  • May robusta coffee settled down 0.2 pct at $1,725 per tonne
  • May arabica coffee settled up 0.3 pct at $1.1815 per lb

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

  • New Ethiopian prime minister to be sworn-in today
  • China-Namibia Business Forum in Shanghai today [Geingob presiding]
  • South Africa ABSA manufacturing PMI for Mar-18 [prev. 50.8]

Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Tough times, tough birds: Kenyan farmers swap back to hardy chickens
  • Al Shabaab attacks an African Union base in Somalia
  • The Islamic Development Bank to finance $185 mln projects in Tunisia
  • Zambia asks Cuba to recall ambassador for backing new opposition party
  • New president looks to wean Botswana off dependence on diamonds
  • Namibia president says China not colonizing Africa – China state media
  • Mali war crimes suspect in custody – ICC
  • Nigeria’s FX reserves up 9 pct in past month – c.bank
  • Tunisia raises fuel prices again to reduce budget deficit
  • Sierra Leone heads to the polls to seek successor to Koroma
  • At rhino’s memorial, Kenyan minister urges life sentences for ivory possession
  • Egypt to keep customs exchange rate at 16 pounds in April
  • Botswana’s Khama steps down as president after a decade at helm
  • South Korea deploys anti-piracy warship after hijack of fishing boat off Ghana
  • Mauritania jails slave-owner for 20 years in harshest ruling
  • Senegal opposition leader jailed 5 years for graft
  • South African tourism has “huge growth potential” – minister
  • Eight in ten Congolese disapprove of President Kabila – poll
  • Mauritius cuts 2018 growth forecasts, agriculture seen slowing

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

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