#Africa #Markets | 12 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks on edge, oil soars on escalating Middle East tensions
  • MSCI Asia-Pacific index ex-Japan down 0.3 pct, Japan’s Nikkei down slightly
  • Oil at highest level since late 2014, gold in demand

Oil Markets

  • Oil markets tense on Middle East crisis, US-China trade spat
  • Escalating Syria crisis lifts crude to highest since late 2014
  • Trade dispute between US and China also keeps market on edge
  • US crude inventories rise to 428.64 million barrels
  • Brent crude futures up 0.3 pct at $72.25 per barrel (0250GMT)
  • US WTI crude futures up 0.4 pct at $67.01 a barrel
  • Shanghai crude futures up 9 yuan at 427.2 yuan per barrel

Precious metals

  • Gold off 11-week highs after Fed signals more rate hikes
  • Spot gold down 0.1 pct at $1,351.48 an ounce (0111GMT)
  • US gold futures down 0.4 pct at $1,355 an ounce

Grains

  • Wheat falls 1 pct as ample global supplies weigh
  • Most active CBOT wheat futures down 1.13 pct at $4.81-3/4 a bushel (0142GMT)
  • Most active corn futures unchanged at $3.87 a bushel
  • Most active soybean futures up 0.2 pct at $10.49-3/4 a bushel
  • Most active rice futures unchanged at $12.81 per hundredweight

Soft commodities (11 Apr)

  • Sugar prices fall to 2-1/2 year low, cocoa climbs
  • May raw sugar settled down 0.6 pct at 12.06 cents per lb
  • May white sugar closedup 0.2 pct at $346.20 per tonne
  • July London cocoa settled up 1.9 pct at £1,773 per tonne
  • July New York cocoa settled up 1.9 pct at $2,580 per tonne
  • July arabica coffee settled up 0.6 pct at $1.2025 per lb
  • May robusta coffee settled down 0.4 pct at $1,702 per tonne

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

  • South Africa mining production data for Mar-18 due [fcst. 2.2% yy, prev. 2.4%]
  • Nigeria inflation data for Mar-18 due [fcst. 13.2% yy, prev. 14.3%]

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

  • Libyan spokesman: No comment on reports of key commander being treated in Paris
  • German national kidnapped in western Niger – Niger attorney general
  • Nigerian regulator lifts suspension of shares in oil company Oando
  • Zimbabwe government buys Boeing planes, leases them to new airline
  • UN aims to eliminate yellow fever epidemics in Africa by 2026
  • Malawi cholera death toll rises to 30 after heavy rainfall hits capital
  • South Africa’s Steinhoff sells 6 percent of African unit
  • Zambia says its foreign debt is not more than officially stated
  • France to propose first UN targeted sanctions over Mali violence
  • South African power utility Eskom considers sale of mortgage business
  • Ghana to launch first exploration licensing round in Q4 2018 – minister
  • Central African Republic demonstrators lay corpses in front of UN mission
  • Mozambique’s central bank cuts key lending rate to 18 percent
  • Mauritius freezes funds linked to Angol’s sovereign wealth fund
  • Somalia disbands UAE programme to pay and train hundred of soldiers
  • South Africans pay tribute to late Winnie Mandela
  • Fitch says sub-Saharan African sovereign debt steadies but refinancing risk may rise
  • Congo lowers 2018 growth forecast to 4.3 cpt – central bank
  • Teleology has 90 days to complete Nigeria’s 9mobile takeover – regulator
  • African migrants in limbo as Israel seeks Uganda deportation deal
  • Ghana’s economy grew by 8.5 pct in 2017 – provisional estimate
  • Ethiopia’s new PM visits town that was centre of anti-govt protests
  • Mauritius’ 5-yr treasury bond yield rise to 4.87 pct
  • Egypt aims to issue dollar-denominated eurobonds worth $6-$7 in 2018/19 – minister
  • Mozambique to hold general election in October 2019 – presidency
  • Namibia central bank leaves lending rate unchanged at 6.75 pct
  • Mozambique inflation quickens to 3.05 pct y/y in March
  • Yield on Uganda’s 91-day treasury bills broadly stable at auction
  • Algerian military plane with more than 100 on board crashes, several deal – local media

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

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