#Africa #Markets | 10 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks rally as Xi calms jitters over US-China trade row
  • US S&P 500 E-mini futures rise 1.2 pct
  • MSCI’s broadest index of Asia-Pacific shares ex-Japan recovers early losses, up 0.8 pct
  • Dollar up 0.4 pct to 107.18 yen
  • Euro sets 4-week high against yen

Oil Markets

  • Oil markets firm on hopes that US trade spat with China may ease
  • Oil prices generally supported by OPEC-led supply restraint
  • Soaring US output undermines OPEC efforts to prop up prices
  • China seeks alternative to Saudi supplies
  • Brent crude futures up 0.5 pct at $69.02 a barrel (0225GMT)
  • US WTI crude futures up 0.7 pct at $63.84 per barrel

Precious metals

  • Gold prices edge up as dollar, Asian stocks ease
  • Spot gold up 0.1 pct at $1,337.11 an ounce (0045GMT)
  • US gold futures steady at $1,340.60 an ounce

Grains

  • Wheat dips from near 1-mth high, crop condition report caps losses
  • Most active CBOT wheat futures down 0.5 pct at $4.88-1/2 a bushel (0131GMT)
  • Most active corn futures down 0.1 pct at $3.90-1/4 per bushel
  • Most active soybean futures unchanged at $10.47 per bushel
  • Most active rice futures unchanged at $12.82 per hundredweight

Soft commodities (9 Apr)

  • Cocoa turns higher, arabica coffee jumps as dollar drops
  • July New York cocoa settled up 2.2 pct at $2,553 per tonne
  • July London cocoa closed up 2 pct at £1,755 a tonne
  • May arabica coffee settled up 1 pct at $1.1865 per lb
  • May robusta coffee settled up 0.8 pct at $1,743 per tonne
  • May raw sugar settled up 0.2 pct at 12.36 cents per lb
  • August white sugar settled down 0.4 pct at $341.10 per tonne

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

  • South Africa manufacturing production data for Mar-18 due [fcst. 2.1% yy, prev. 2.5%]

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

  • Vodacom Tanzania picks Safaricom executive as its new managing director
  • Somaliland elders approve historic law criminalising rape
  • Maroc Telecom to launch share buyback programme
  • Africa Crude – Angola under pressure from excess medium and heavy oil
  • Militiamen kill five park rangers, driver in east Congo’s Virunga
  • South Africa rand weaker as risk appetite wanes, stocks up
  • Alleged Angolan fraud scheme aimed to take $1.5 bln – finance ministry
  • South Sudan’s ex-military chief forms organisation to challenge Kiir
  • South Africa’s top court dismisses Pistorius’ bid to appeal murder sentence
  • Nigeria’s Buhari to seek re-election in 2019
  • Nigeria’s Buhari departs for Britain for talks – presidency
  • South African consumer group Libstar plans stock market listing
  • Egypt launches EUR2bn dual-tranche bond
  • Nigeria stocks drop to 3-month low after Buhari eyes re-election
  • Gunmen fire on UN base in Central African Republic
  • In Africa, costly data slows internet TV’s growth: Naspers’ Showmax
  • Shell says Nigeria payments and oil theft climb in 2017
  • Ugandan shilling steady after central bank holds key rate
  • Somalia parliament speaker quits as Gulf rivalries boil
  • Libyan sovereign wealth fund files lawsuit against JPMorgan Chase
  • China Petroleum engineering unit’s consortium signs contract worth $1.2 bln with Nigerian National Petroleum Corp
  • South Africa’s Eskom Holdings says Mark Lamberti resigned as a director
  • Uganda central bank leaves key rate unchanged at 9 pct, says inflation risk balanced
  • Tanzania year-on-year inflation at 3.9 pct in March – stats office
  • Offshore investors net buyers of South African stocks, sell bonds
  • Togo, Equatorial Guinea sign LNG deal, promote regional gas trade
  • South Africa may ask pharma firms for fee to clear drug review backlog
  • Kenyan shilling firm, to gain due to tight liquidity
  • In Kenyan refugee camp, hope of new life in US fades and suicide rate rises
  • South Africa’s net foreign reserves rise to $43.4 bln in March

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

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