#Africa #Markets | 17 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks edge up on steady China GDP, earnings in focus
  • MSCI Asia-Pacific index up 0.05 pct, Nikkei flat
  • China Q1 GDP up 6.8 pct, slightly stronger than forecast
  • But China industrial output misses forecast, Q1 investment slows
  • Pound rises to post-Brexit referendum high
  • Crude oil bounces modestly after overnight slide

Oil Markets

  • Oil prices rises amid risk of supply disruptions from Iran to Venezuela
  • Syria conflict has also helped push up prices
  • Supply risks come amid OPEC-led production cuts
  • Brent crude futures up 0.5 pct at $71.80 per barrel (0120GMT)
  • US WTI crude futures up 0.6 pct at $66.61 a barrel

Precious metals

  • Gold gains as dollar weakens further
  • Spot gold up 0.2 pct at $1,348.82 an ounce (0102GMT)
  • US gold futures up 0.1 pct at $1,351.5 an ounce

Grains

  • Wheat gains capped on USDA crop condition report
  • Most active CBOT wheat futures up 0.2 pct at $4.63 per bushel (0127GMT)
  • Most active corn futures unchanged at $3.82-1/2 a bushel
  • Most active soybean futures up 0.2 pct at $10.44-1/2 a bushel
  • Most active rice futures down 0.2 pct at $13.03 per hundredweight

Soft commodities (16 Apr)

  • NY cocoa jumps to 1-1/2-year high; coffee, sugar drop
  • July New York cocoa settled up 4.97 pct at $2,704 per tonne
  • July London cocoa settled up 3.51 pct at £1,826 per tonne
  • July arabica coffee settled down 2.47 pct at $1.1655 per lb
  • July robusta coffee settled down 0.4 pct at $1,729 per tonne
  • May raw sugar settled down 0.8 pct at 11.98 cents per lb
  • August white sugar settled up 0.47 pct at $340.60 per tonne

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

  • April IMF World Economic Outlook report to be released
  • Kenya’s Kenyatta & Mozambique’s Nyusi to give speech at Chatham House

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

  • Zimbabwe in tight timeline to repay arrears, seek more funding
  • Ethiopian foreign exchange shortage will last years – new premier
  • Ramaphosa team to seek $8 bln investment for South Africa
  • Algeria’s Sonatrach to invest in digital technology, solar power – CEO
  • Africa Crude – Angolan June exports to slip, little spot trading
  • Zimbabwe nurses go on strike over allowances
  • South Africa’s PIC rejects ATON’s takeover offer for Murray & Roberts
  • “No amount of killing will stop us”: Nigerian police open fire to disperse Shi’ite protesters
  • Gunmen in Nigeria’s Kano state kill policeman and abduct German citizen
  • Guinea-Bissau’s Vaz names Aristides Gomes as new PM – decree
  • South Africa’s glass maker Consol tests South Africa optimism with up to $300 mln IPO
  • Zambia shortlists 5 firms for majority stake in oil refinery
  • South African authorities raid Gupta compound in Johannesburg
  • At least 9 dead in floods in Tanzania’s commercial capital
  • Morocco’s trade deficit widens 10.6 pct y/y in Jan-March
  • Egypt’s jobless rate dips to 11.8 pct, private sector growth remains elusive
  • South African utility Eskom asks to recover $5.5 bln via higher tariffs
  • Zimbabwe’s tax revenue up 29 pct to $1.1 billion in Q1
  • Ethiopia ends web blackout, raising hopes of reforms under new PM
  • Ugandan shilling stable, to draw support from tax payments
  • Shares in Nigeria’s Oando rise to 8-mth high
  • First LNG shipment from Cameroon delayed until late April – spokesman
  • Faberge owner Gemfields taken to court over alleged abuses in Mozambique
  • Offshore investors net buyers of South African stocks, sell bonds
  • Kenya election officials quit, pressure on chairman to go
  • Zimbabwe March inflation at 2.68 pct y/y – Zimstats
  • CMA CGM signs deal to operate container terminal in Nigeria
  • Rise in kidnappings shakes faith in Uganda’s police
  • China National complete plant import and export signs supplementary agreement on Kenyan project
  • Development Bank of Southern Africa appoints Boitumelo Mosako as CFO
  • Angolan inflation slows to 20.9 pct y/y in March – stats office
  • Egypt aims to raise tobacco tax revenues by $402 mln in 2018-19 budget
  • Vedanta names South African miner AngloGold Ashanti’s CEO to top job
  • Egypt’s Suez Canal revenues rise to $463 mln in March – Al-Borsa Newspaper
  • South African rand slightly stronger on hopes Syria attack a one-off
  • Papua New Guinea LNG project resumes exports

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

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