#Africa #Markets | 3 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks slide, yen rises in flight to safety on trade war anxiety
  • MSCI ex-Japan eases with tech shares leading losses
  • South Korea’s KOSPI index slips, Samsung off over 1 pct
  • Treasury yields near the lowest since early February
  • Dollar falls for a fourth straight day against the yen

Oil Markets

  • Oil prices higher albeit weighed by rising Russian output & escalating US-China trade dispute
  • Brent crude futures 16 cents higher at $67.80 a barrel
  • US WTI crude futures up 13 cents to $63.14 a barrel

Precious metals

  • Gold edges up on rising trade war fears
  • Spot gold up 0.1 pct to $1,341.68 an ounce (0045GMT)
  • US gold futures down 0.1 pct at $1,345.70 an ounce

Grains

  • Wheat rallies after USDA confirms damage from recent dry weather
  • Most active CBOT wheat futures up 0.8 pct at $4.49-1/2 a bushel (0105GMT)
  • Most active corn futures up 0.2 pct at $3.88 per bushel
  • Most active soybean futures up 0.6 pct at $10.41-1/4 a bushel
  • Most active rice futures unchanged at $12.31 per hundredweight

Soft commodities (2 Apr)

  • New York cocoa at 1-1/2-year high, arabica coffee lowest since June
  • May New York cocoa up 2.6 pct at $2,623 per tonne (1603GMT)
  • May arabica coffee fell 1.4 pct to $1.165 per lb
  • May raw sugar was up 1.4 pct at 12.52 cents per lb

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

  • 2-day MPC meeting of Nigeria’s central bank starts today [Expect rates unchanged]

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

  • UK to ban ivory items regardless of their age
  • South Africa’s Winnie Mandela, tainted anti-apartheid figurehead, dies at 81
  • Israel suspends new relocation deal for African migrants
  • Tunisia agrees $1.5 bln financing deal with Int’l Islamic Trade Finance Corp
  • Trump congratulates Egypt’s Sisi in call, affirms strategic partnership
  • Egypt’s Sisi wins 97 percent in election with no real opposition
  • Libyan forces launch operation against Islamic State
  • Sierra Leone opposition says wins presidential polls, ruling party disputes
  • Ethiopia’s new PM pledges reforms to end violence
  • Nigeria to probe alleged Cambridge Analytica involvement in elections – presidency
  • Egypt’s Sisi re-elected with 97 pct of votes, turnout 41 pct – election commission
  • Egypt net foreign reserves rise to $42.611 bln at end-March – c.bank
  • Suspected Boko Haram militants kill 15 in Nigeria’s Maiduguri – emergency services

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

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