#Africa #Markets | 13 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks bounce as Trump changes tack on Syria, earnings hopes
  • Global shares hit 3-week high as earnings season kicks off
  • Easing fear of imminent US attack on Syria soothes nerve
  • Bitcoin supported after biggest gains in 4 months

Oil Markets

  • Oil eases but set for highest weekly gain since July
  • NYMEX crude for May delivery down 0.3 pct at $66.84 a barrel (0148GMT)
  • London Brent crude down 0.3 pct at $71.77

Precious metals

  • Gold steadies, on track for second week of gains
  • Spot gold up 0.2 pct at $1,337.17 an ounce (0046GMT)
  • US gold futures down 0.2 pct at $1,339.90 an ounce

Grains

  • Wheat falls nearly 1 pct, still set to end week higher
  • Most active CBOT wheat futures down 0.7 pct at $4.77-1/2 per bushel (0113GMT)
  • Most active corn futures up 0.1 pct at $3.89 per bushel
  • Most active soybean futures up 0.4 pct at $10.64-1/2 a bushel
  • Most active rice futures up 1.3 pct at $13.05 per hundredweight

Soft commodities (12 Apr)

  • White sugar climbs off 2-1/2-year lows, cocoa edges lower
  • May raw sugar settled down 0.1 pct at 12.05 cents per lb
  • August white sugar settled up 0.7 pct at $337.60 per tonne
  • July New York cocoa settled down 0.6 pct at $2,564 per tonne
  • July London cocoa settled down 0.7 pct at £1,761 per tonne
  • July arabica coffee settled down 0.2 pct at $1.20 per lb
  • July robusta coffee settled up 0.1 pct at $1,736 per tonne

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

  • South Africa inflation data for Mar-18 next week [fcst. 3.9% yy, prev. 4.0%]
  • South Africa retail sales data for Feb-18 also due same day; 18 Apr

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

  • Nigeria’s Boko Haram has abducted more than 1,000 children since 2013 – UN
  • Civilians killed in Central African Republic were ‘manipulated’ – UN
  • Poor left out of mining profits as ‘resource curse’ hits Kenya
  • Sudan inflation rises to 55.6 pct in March
  • Egyptian prosecutor summons nine journalists over election coverage
  • Ivory Coast inaugurates new senate amid opposition criticism
  • Africa Crude – Muted trading on high Nigerian offers, limited demand
  • Ghana sells 809.89 mln cedis ($182 mln) of 7-yr bonds at 16.25 pct yield
  • Tanzania’s NMB ready to participate in banking sector consolidation
  • Yields on Kenya’s 91-day, 182-day t-bills dip at auction
  • South African rand falls as risk appetite wanes, stocks up
  • Silent, invisible malnutrition seen as threat to generations in Congo
  • Egypt expects lower fuel subsidy bill in 2017/18 – minister
  • Burkina Faso to end tycoon Frank Timis’ managanese mining contract
  • Uganda plans tax on social media use from July, rights activists cry foul
  • Zambian and Tanzanian currencies seen on back foot, Kenya’s firm next week
  • South Africa’s UNTU says signed wage agreement with Transnet
  • South Africa’s Competition Commission accepts withdrawal of complaint by PureGas against Shell downstream
  • Egypt’s former anti-graft chief referred to military trial – lawyer
  • Investment firm Quantum Global demands to know why Mauritius froze its funds
  • Gabon returns three suspects to Turkey over Gulen links, Erdogan says
  • Ugandan shilling unchanged, key psychological level offers support
  • Kenyan shilling stable, draws support from agricultural exporters
  • South Africa’s mining output up 3.1 pct y/y in February
  • Namibia’s inflation unchanged at 3.5 pct y/y in March
  • Nigeria annual inflation dips to 13.34 pct, lowest in two years in March
  • Egypt’s EFIC completes due diligence for potassium sulphate production line project
  • South Africa’s rand surrenders rally below 12/$ mark as risk-off resurfaces
  • Kenya to sell 15-yr, 20-yr treasury bonds this month – central bank
  • Steinhoff sells 6 pct of African unit at $18.75 per share to raise $314 mln to help cut debt

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

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