#Africa #Markets | 18 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares edge ahead with Wall St, but China lags
  • Nikkei leads Asia shares higher as earnings lift Wall St
  • China markets mixed as PBOC cuts bank reserve requirements
  • IMF sticks with global growth call but sees mounting risks
  • US yield curve flattens as investors fret on economic outlook

Oil Markets

  • Oil prices edges up on lower US crude inventories, global supply risks
  • US crude stocks down by 1 mln barrels at 428 mln barrels – API
  • Supply risks in Middle East, Venezuela also support crude
  • Brent crude oil futures up 0.5 pct at $71.90 per barrel (0117GMT)
  • US WTI crude futures up 0.5 pct at $66.85 a barrel

Precious metals

  • Gold slips as dollar steadies on positive US data
  • Spot gold down 0.2 pct at $1,344.20 per ounce (0107GMT)
  • US gold futures for June delivery down 0.2 pct at $1,347.50 per ounce

Grains

  • Wheat edges higher on worries over condition of US crops
  • Most active CBO wheat futures up 0.2 pct at $4.67-1/4 per bushel (0109GMT)
  • Most active corn futures unchanged at $3.80-1/4 a bushel
  • Most active soybean futures up 0.02 pct at $10.46-1/4 a bushel
  • Most active rice futures down 0.6 pct at $13.08 per hundredweight

Soft commodities (17 Apr)

  • Raw sugar drops to over 2-1/2 year low; arabica hits March 2016 low
  • May raw sugar settled down 2.8 pct at 11.65 cents per lb
  • August white sugar settled down 1.41 pct at $335.80 per tonne
  • Arabica coffee settled down 0.6 pct at $1.1585 per lb
  • July robusta coffee settled up 1.45 pct at $1,754 per tonne
  • July New York cocoa settled unchanged at $2,704 per tonne
  • July London cocoa settled down 0.22 pct at £1,822 per tonne

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

  • Commonwealth head of government meeting (CHOGM) in London continues (16-20 April)
  • Seychelles’ Faure and The Gambia’s Barrow to speak at Chatham House in London today
  • IMF meetings continue in Washington DC
  • South Africa inflation Mar-18 data due [fcst. 3.9% yy, prev. 4.0%]
  • South retail sales data for Feb-18 due [fcst. 2.4% yy, prev. 3.1%]

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

  • Kenyan officials resolute over land allocation despite machete attack
  • Congo govt setting up fund to manage all aid donations
  • Ethnic violence pushes Malians into Burkina Faso crisis zone
  • Algeria lifts imports ban on food industry raw materials
  • Kenya could scrap or modify interest rate cap law – President
  • South African rand firms as improving outlook spurs bull, stocks flat
  • Ramaphosa tem to seek $100 bln investment for South Africa
  • IMF lifts South Africa’s GDP forecast to 1.5 pct in 2018
  • South Africa’s auditor general cancels all contracts with KPMG
  • Uganda to borrow $412 mln from China and World Bank for health, education projects
  • Popular Tanzanian singer arrested in latest internet crackdown
  • Nigeria’s Senate seeks explanation of $462 mln to buy helicopters
  • Mozambique state accountable for debt but responsibility must be shared
  • Egypt to acution 10 or 11 oil and gas concessions in Mediterranean – minister
  • Police fire teargas at Shi’ite Muslim protesters in Nigerian capital
  • Malawi inflation quickens to 9.9 pct y/y in March
  • Yields lower at South African government bond auction
  • Kenyan shilling rises to strongest level in nearly two years
  • Ugandan shilling holds steady as demand for dollars falls
  • South Africa’s Eskom says facing coal shortages at 7 power plants
  • Italy’s Eni plans “billions” of investments in Algeria in next three years – CEO
  • Eni’s IEOC aims to increase gas production from Egypt’s Zohr field to 1.2 bcf/d in May

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

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