#Africa #Markets | 25 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares spooked by rising US yields, cost worries
  • Ex-Japan Asia down 0.1 pct , Nikkei falls 0.6 pct
  • Caterpillar earnings highlight concerns about economic peak
  • US bond yields rise at 3 pct, Jan 2014 high in focus

Oil Markets

  • Oil falls away from late-2014 highs as rising US supplies cloud bull-run
  • Oil prices in April hit highest level since Q4 2014
  • Brent forward prices are above $70/bbl until end of 2018
  • OPEC-led cuts, political risk, strong demand have lifted oil
  • But rising US supplies dragging on markets
  • Brent crude oil futures down 12 cents to $73.74 per barrel (0238GMT)
  • US WTI futures down 7 cents at $67.63 per barrel

Precious metals

  • Gold prices inch up as equities slide
  • Spot gold up 0.1 pct at $1,330.96 per ounce (0058GMT)
  • US gold futures steady at $1,332.60 per ounce

Grains

  • Wheat up for 2nd day; soybean, corn prices face pressure from US weather
  • Most active CBOT wheat futures up 0.2 pct at $4.85-1/4 per bushel (0045GMT)
  • Most active corn futures unchanged at $3.90 per bushel
  • Most active soybean futures up 0.1 pct at $10.35 per bushel
  • Most active rice futures down 0.3 pct at $13.09 per hundredweight

Soft commodities (24 Apr)

  • New York cocoa surges, sugar falls to multi-year lows
  • July New York cocoa settled up 3.3 pct at $2,815 per tonne
  • July London cocoa settled up 1.9 pct at £1,863 per tonne
  • July raw sugar settled down 0.2 pct at 11.38 cents per lb
  • August white sugar settled down 1.4 pct at $324.50 per tonne
  • July arabica coffee settled up 1.3 pct at $1.2045 per lb
  • July robusta coffee settled up 0.7 pct at $1,782 per tonne

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

  • Nigeria’s ruling APC party begins sale of forms to contestants for the party’s executive positions (at its convention to be held on 14 May) today
  • Kenya’s 5th annual devolution conference continues today (23-27 Apr)
  • The South African Federation of Trade Unions (SAFTU) to embark on a general strike today over proposed national miniumum wage of R11-R20 an hour and changes to labour laws [SAFTU prefers a so-called living wage of R12,500]

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

  • Sixteen people killed in Nigerian church attack – police
  • Algeria says oil price of $75 a barrel will allow for investment
  • Egypt’s former anti-graft chief jailed for 5 years by military court – lawyer
  • Congo presidential hopeful rejects any deal with Kabila
  • Fuel shortage hits Sudan as dollar crisis hampers imports
  • Three Chinese tourists killed in traffic accident in Egypt – statement
  • Israel abandons plan to forcibly deport African migrants
  • French police grill tycoon Bollore after Africa graft allegations
  • Namibia may scrap black ownership requirements for mining companies – minister
  • Heavy rains, landslides kill 18 in Rwanda – govt
  • Papua New Guinea PM says country to launch first eurobond
  • Mauritius bank SBM to put $60 mln of extra capital into Kenya’s Chase
  • Ivory Coast bank assets up 11 pct in 2017 on solid economic growth
  • South Africa’s Libstar targets at least $692 mln valuation in IPO
  • Moroccan phosphate producer eyes bonds issue
  • Congo’s state miner seeks to dissolve Glencore venture over debts
  • South African Airways says it needs capital injection “now”
  • European nations urged to stop Libya’s trafficking gangs
  • Zimbabwe may launch $3.5 billion sovereign bond issue post election –deputy minister
  • Guinea says Bollore port concession complied with law
  • South African Airways in talks with banks, Treasury for “open credit line”
  • Ethiopia not ready for foreign investment in telecoms, banking – president
  • Wealtherly updates on agreement to purchase Kitumba project in Zambia
  • South Africa’s mines minister to challenge court ruling on black ownership theshold
  • Ugandan shilling unchanged as charity flows meet subdued demand
  • Algeria launches gas pipeline to boost supply to major southern city
  • Ethiopia says British museum must permanently return its artefacts
  • Congo’s Gecamines says debts require dissolution of Glencore venture
  • Yields mixed at weekly South Africa bond auction
  • Tanzania sets 2-week deadline for bloggers amid internet crackdown

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

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