#Africa #Markets | 11 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks firm as trade war fears ease, euro buoyant
  • MSCI Asia-Pacific index up 0.1 pct, Nikkei rise 0.15 pct
  • Asia stocks buoyed by Wall Street rally
  • Euro near 2-wk high, buoyant after ECB Nowotny’s policy comments
  • Crude oil extends gains after rallying more than 3 pct

Oil Markets

  • Oil prices near 2014 highs over warnings of western air strikes against Syria
  • Eurocontrol warns of possible air strikes in next 72 hours
  • Brent hit its highest level since 2014 late on Tuesday
  • Easing concerns over US/China trade spat also support prices
  • Rising US output still looms over oil markets
  • Brent crude futures up 7 cents to $71.09 per barrel (0104GMT)
  • US WTI crude futures up 12 cents at $65.63 a barrel

Precious metals

  • Gold up on a softer dollar; US CPI, Fed minutes in focus
  • Spot gold up 0.2 pct at $1,341.26 an ounce (0114GMT)
  • US gold futures unchanged at $1,346 an ounce

Grains (10 Apr)

  • Soybeans climb on USDA data; wheat ends firm
  • Most active CBOT wheat futures settled 0.3 pct up at $4.92 a bushel
  • Most active corn futures settled settled down 0.4 pct at $3.89-1/4 a bushel
  • Most active soybean futures settled up 0.3 pct at $10.50 per bushel

Soft commodities (10 Apr)

  • Sugar prices at 2-1/2-year lows as Brazil harvest speeds up
  • May raw sugar settled down 1.9 pct at 12.13 cents per lb
  • August white sugar settled down 1.5 pct at $336 per tonne
  • July London cocoa settled down 0.9 pct at £1,740 per tonne
  • July New York cocoa settled down 0.9 pct at $2,531 per tonne
  • May arabica coffee settled down 0.9 pct at $1.176 per lb
  • May robusta coffee settled down 2 pct at $1,709 per tonne

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

  • Namibia interest rate decision due [fcst. 6.5%, prev. 6.75%]

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

  • MRG Metals to acquire high potential heavy mineral sands projects in Mozambique
  • US lifts travel ban on Chad citizens – White House
  • Egypt military court refers 36 defendants to Mufti for death penalty
  • Africa Crude – Spot trading slows, Angolan diffs under pressure
  • South Africa’s growth recovery at risk from lack of policy clarity – central bank
  • Algeria agrees steel plant stake sale to UAE firm
  • Sudan’s Bashir orders release of all political prisoners
  • Congo lowers 2018 growth forecast to 4.8 pct – cenbank
  • South African rand, stocks in demand as global trade war fears ease
  • Kenyan election body sends top official on compulsory leave
  • Rare appearance fuels speculation Algeria’s Bouteflika will run again
  • Uganda signs agreement with investors to build oil refinery
  • UN says aid worker killed in South Sudan, demands release of others
  • Tunisia seeks to recover $2.72 billion of bad loans
  • UAE denounces Somalia seizure of its plan, cash
  • South Africa’s east platinum belt hit by over 400 social unrest incidents since 2016
  • Uganda shilling stable as commodity flows offer support
  • Egypt inflation rates falls to to lowest levels in almost 2 yrs
  • World Bank raises South Africa growth forecasts but warns of weak potential
  • South Africa’s Feb manufacturing output disappoints at 0.6 pct y/y on firmer rand, bottlenecks
  • Egypt plans deep cuts in energy subsidies, increases for food
  • South Africa’s MTN expects IPO of Nigerian unit this year
  • World Bank cuts Zambia growth forecasts, still seen at over 4 pct
  • Kenyan shilling firm, supported by tight liquidity
  • Telkom Kenya and Airtel seek merger to take on Safaricom – sources
  • Yields rise in weekly South African govt bond auction
  • Zimbabwe invites West to observe vote for first time since 2002
  • Rwanda’s y/y inflation edges up to 0.9 pct in March
  • MTN, Ecobank to form Africa mobile banking partnership
  • World Bank raises South Africa 2018 growth forecast to 1.4 pct
  • South Africa’s mines minister aims for new mining charter by May

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

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