#Africa #Markets | 6 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks drop, yen rises as Trump proposes more China tariffs
  • MSCI Asia-Pacific index down 0.25 pct, Nikkei dips 0.15 pct
  • S&P 500 futures slip more than 1 pct
  • Trump proposes $100 bln in additional tariffs on China
  • Stock futures drop, safe-haven yen up with trade woes revived
  • US jobs report awaited for additional cues

Oil Markets

  • Oil falls after US president Trump threatens new China tariffs
  • Brent crude for June delivery down 0.6 pct at $67.95 per barrel (0143GMT)
  • US WTI crude for May delivery down 0.7 pct at $63.11 a barrel
  • Shanghai September crude futures untraded due to China holidays; down 0.8 pct on Wednesday

Precious metals

  • Gold rises after Trump proposes more tariffs on China
  • Spot gold up 0.4 pct at $1,330.78 per ounce (0032GMT)
  • US gold futures up 0.4 pct to $1,334.10 an ounce

Grains

  • Soybeans slump as US considers escalating Chinese tariffs
  • Most active CBOT wheat futures down 0.6 pct at $4.62 per bushel (0027GMT)
  • Most active corn futures down 1.4 pct at $3.84-1/4 a bushel
  • Most active soybean futures down 1.9 pct at $10.11-3/4 a bushel
  • Most active rice futures down 0.4 pct at $12.35 per hundredweight

Soft commodities (5 Apr)

  • New York cocoa climbs on arbitrage buying
  • May New York cocoa settled up 1.3 pct at $2,508 per tonne
  • May London cocoa settled up 0.2 pct at £1,728 per tonne
  • May raw sugar settled up 0.7 pct at 12.35 cents per lb
  • August white sugar settled up 0.1 pct at $343.60 per tonne
  • May arabica coffee settled up 0.6 pct at $1.1755 per lb
  • May robusta coffee settled up 0.2 pct at $1,759 per tonne

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

  • Former South African president Jacob Zuma to appear in court today for graft charges
  • Nigeria’s Buhari to leave for the UK soon for a “private” visit [Probably for health reasons; he has kept a full work schedule for a while now, so his health is certainly better than the last time he visited the UK. When important events were cancelled, he made sure to appear for other ones on the same day.]

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

  • Zuma joins small club of African leaders in the dock
  • Egypt prosecutor orders website editor detained for 15 days – sources
  • Sierra Leone’s new president calls on rival to drop challenge
  • Ghana president says plan to host US troops will bolster regional peace
  • US military cancels training exercise near Djibouti after aircraft mishaps
  • Supporters to march in support of South Africa’s Zuma at court appearance
  • Nigeria’s ex-president unaware of any Cambridge Analytica involvement in elections – spokesman
  • Cholera kills 40 Congolese in overcrowded Uganda refugee camps
  • Tanzania’s PM revises GDP growth for 2017 to 7.1 pct from 7.0 pct
  • Soccer – Libya hope to have football ban lifted
  • South African rand eases as dollar edges up, stocks rise
  • Tanzania launches 240 MW power plant in bid to ease shortages
  • Yields on Kenya’s 182-day, 364-day t-bills dip at auction
  • Nigeria’s UAC plans 20 bln naira bond sale for real estate unit
  • Sudan plans sukuk worth almost $1 billion this year – finance minister
  • Africa Crude – Nigerian cargoes sail east, Angola offers cut
  • Tunisia annual inflation rate rises to 7.6 pct in March from 7.1 pct in Feb
  • Kenya marks rhinos in conservation drive
  • Egypt court orders re-trial of NGO foreign funding case
  • Africa FX: Kenyan shilling, Zambia’s kwacha to firm, Nigeria’s naira to hold; all next week
  • Solar power eclipsed fossil fuels in new 2017 generating capacity – UN
  • Zimbabwe wants mining companies to list on local exchange
  • Botswana’s power utility lifts tariffs by 10 pct
  • South Africa business confidence index down in March
  • Tunisia says to tender for $1 bln solar, wind projects
  • Algeria economy grew by 4 pct in first quarter – finance minister
  • French, Malian troops kill 30 insurgents in Mali gun battle
  • Kenyan shilling steady amid inflows from debt auction
  • Orange Egypt signs EGP 7 bln syndicated loan
  • Kenyan policeman jailed for 15 years for killing suspected phone thief
  • Ethiopia inflation inches down to 15.2 pct in March
  • Kenya to set up mortgage refinancing company to meet housing demand
  • Losing candidate in Sierra Leone election plans legal challenge to result
  • Mondo TV signs agreement with South African Broadcasting for airing of robot trains
  • Kenya’s central bank to hold its rate-setting meeting on May 28
  • Kenyan regulator fines ex-National Bank boss for loss of funds
  • South African rand eases as risk appetite ebbs
  • In Africa, scant data protection leaves internet users exposed
  • South African glassmaker Consol eyes Johannesburg IPO
  • Scatec Solar signs power purchase agreements for 258 MW in South Africa
  • AccorHotels signs 50 pct stake in South African conglomerate Mantis Group

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

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