#Africa #Markets | 20 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares hit by tech warning, oil holds near highs
  • Tech shares follow Apple lower after chipmaker warning
  • Oil prices just off highs, supported as supply tightens
  • Inflation unease pushes up long-term bond yields
  • Sterling skids after BoE’s Carney sounds dovish

Oil Markets

  • Oil remains close to late-2014 highs as ongoing supply cuts reduce inventories
  • Brent, WTI this week reached highest levels since November 2014
  • Tighter crude market feeding into refined products
  • Rising US production is one of the few factors holding crude back
  • Brent crude futures down 9 cents at $73.69 per barrel (0129GM)
  • US WTI crude futures down 7 cents at $68.22 a barrel

Precious metals

  • Gold prices inch down as global political tensions ease
  • Spot gold down 0.1 pct at $1,344.20 an ounce (0044GMT)
  • US gold futures down 0.2 pct at $1,346.60 an ounce

Grains

  • Wheat edges lower, set to finish the week up nearly 4 percent
  • Most active CBOT wheat futures down 0.2 pct at $4.90 per bushel
  • Most active corn futures down 0.1 pct at $3.81-1/2 a bushel
  • Most active soybean futures down 0.1 pct at $10.48-1/4 a bushel
  • Most active rice futurues down 0.4 pct at $13.03 per hundredweight

Soft commodities (19 Apr)

  • Cocoa hovers below 2016 highs, NY premium over London at record
  • July New York cocoa settled down 0.04 pct at $2,799 per tonne
  • July London cocoa settled up 0.2 pct at £1,878 per tonne
  • July arabica coffee settled down 0.8 pct at $1.1625 per lb
  • July robusta coffee settled down 0.3 pct at $1,767 per tonne
  • July raw sugar settled upp 0.3 pct at 11.95 cents per lb
  • August white sugar settled up 0.6 pct at $343.20 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)
  • IMF spring meetings continue in Washington DC

Key African events or data releases yesterday & early a.m today

[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • UK, African ministers set to discuss Zimbabwe’s possible readmittance to Commonwealth
  • Rockets hit airport in Libya’s capital, damaging passenger jet
  • Ex-Liberian warlord ‘Jungle Jabbah’ gets 30 years in US prison
  • Sudan’s president sacks foreign minister – state news agency
  • Senegal capital erupts in protest over new election law
  • South African govt questions Transnet CFO’s resignation
  • South Africa’s Ramaphosa cuts short Britain trip to deal with protests at home
  • South Africa to charge Zuma’s son over car crash death
  • Kenya suspends land allocation as nine injured in attacks
  • Africa’s last absolute monarch renames Swaziland as “eSwatini”
  • Rockets hit Libya airport as UN, French officials visit to talk peace
  • Buhari remarks on young Nigerians’ work ethic stirs social media storm
  • Gabon to invest $277 million in fibre optic network
  • South Africa’s rand steady in quiet trade, stocks falter
  • Congo Republic still not ready for IMF deal despite pledged reforms
  • Africa Crude – More Nigerian programmes emerge, Vitol wins IOC tender
  • Yields on Kenya’s 182-day t-bill dips at auction
  • European Invesment Bank, AfDB back new Nigerian lender
  • South African bank Absa denies being liable for damages over Steinhoff
  • South Africa’s public servants union in wage dispute with govt
  • Mauritius 3-year treasury bond yield rises to 4.26 pct
  • Ethiopia’s new premier reshuffles cabinet as part of reform bid
  • South Africa must tame Zambia’s “brutal regime”, opposition leader says
  • Senegal capital erupts in protest over proposed election law
  • Average yields mixed on Egypt’s 6-mth, 1-yr t-bills
  • Congo Republic still not ready for IMF deal – Fund mission
  • Africa FX – Demand for dollars likely to weigh on Kenyan shilling
  • Court stops Kenya telecoms regulator’s fake mobile monitoring plan
  • Strike halts gold output at two Randgold mines in Mali – union
  • Kenya’s fresh produce export earnings jump 11 pct in 2017
  • Foreign investment in Tunisia rises by a quarter at start of 2018
  • African Development Bank, KCB Bank sign $100 million line of credit agreement
  • Britain’s Queen Elizabeth backs her son Charles to take on Commonwealth role
  • Congo Republic debt restructuring will not affect bondholders – PM
  • Nigeria plans power tariff overhaul by 2021 to attract investment
  • Ugandan shilling holds steady against the dollar
  • Acacia Mining’s first-quarter profit slumps after Tanzania tax row
  • Nigerian police recover stolen parliamentary mace
  • Kenyan shilling steady; to ease due to increased importer demand
  • Steinhoff Africa Retail expects unit to issue shares to help repay loans

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

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