#Africa #Markets | 5 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares bounce from 2-mth lows as US-China trade war fears ease
  • Markets see Trump’s tariffs as negotiation strategy, not final policy
  • MSCI Asia-Pacific shares outside Japan up 0.2 pct
  • Markets in mainland China, Hong Kong and Taiwan closed today (Thursday)

Oil Markets

  • Oil gains on surprise drawdown in US crude inventories
  • US WTI crude for May delivery up 0.3 pct at $63.56 a barrel (0140GMT)
  • Front-month London Brent crude for June delivery up 0.3 pct at $68.22 per barrel
  • Shanghai September crude futures untraded due to public holiday, down 0.8 pct on Wednesday

Precious metals

  • Gold edges lower as fears of all-out US-China trade war ease
  • Spot gold down 0.2 pct at $1,331 per ounce (0052GMT)
  • US gold futures down 0.4 pct at $1,335.10 per ounce

Grains

  • Soybeans edge higher, Chinese tariffs cap gains
  • Most active CBOT wheat futures up 0.9 pct at $4.59-3/4 a bushel (0033GMT)
  • Most active corn futures up 0.2 pct at $3.81-3/4 a bushel
  • Most active soybean futures up 0.3 pct at $10.18-1/4 a bushel
  • Most active rice futures unchanged at $12.42 per hundredweight

Soft commodities (4 Apr)

  • Arabica coffee comes off 9-mth low on position rolling
  • May arabica coffee settled up 0.3 pct at $1.169 per lb
  • May robusta coffee settled up 0.9 pct at $1,755 per tonne
  • May New York cocoa settled down 0.9 pct at $2,475 per tonne
  • May London cocoa settled down 0.5 pct at £1,725 per tonne
  • May raw sugar settled down 1.6 pct at 12.27 cents per lb
  • May white sugar settled down 1 pct at $351.20 per tonne

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

  • Zimbabwe’s Mnangagwa 5-day China trip continues
  • Nigeria’s Buhari slated to travel to London before end of the week
  • South Africa Standard Bank PMI for Mar-18 due (prev. 51.4)
  • Nigeria Stanbic IBTC Bank PMI for Mar-18 due (prev. 56.0)

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

  • Julius Maada Bio sworn in as new Sierra Leone president
  • Oppositions’s Maada Bio wins Sierra Leone presidency – election commission
  • Morocco mulls ‘all options’ over its Western Sahara truce threat claim – minister
  • European tourists were not kidnapped in Cameroon, tour operator says
  • Ghana to review corporate tax exemptions for resources sector
  • Social welfare has lifted 50 million out of poverty, World Bank says
  • South African court backs once empowered, always empowered principle
  • Nigeria’s central bank keeps main interest rate at record high 14 pct
  • Nigeria’s president approves release of $1 bln for military equipment – defence minister
  • Mali war crimes suspect appears before Hague war crimes judges
  • South Africa signs $4.7 bln of delayed renewable energy deals
  • Zambia withdraws military personnel deployed to fight cholera
  • Algeria’s Bouteflika names four ministers and leaves energy minister in place
  • Egypt to hold long-awaited local elections next year
  • Libyans to take part in public consultations to help end political deadlock
  • In Africa, scant data protection leaves internet users exposed
  • South African police arrest five over mine worker killings
  • Kenyan fund targets $15 mln green bond for water projects
  • Tight liquidity supports Kenyan shilling
  • Congo opposition leader held Italian citizenship for 16 years, town says
  • Cameroon security forces free 18 hostages in Anglophone region
  • Mauritius offers 5-year treasury bond worth 2 bln rupees
  • Ugandan shilling stable, dollar demand seen rising

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

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