#Africa #Markets | 30 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares climb as Korea tensions ease, earnings boom
  • MSCI Asia-ex Japan tad firmer, KOSPI up 0.5 pct
  • Stocks continue to be supported by strong Q1 earnings
  • Jitters over whether strong corporate earnings can continue
  • China-US trade talks, US data in focus this week

Oil Markets

  • Oil slips after US rig count rises; Iran concerns cap downside
  • US rig count rises to 825, highest since March 2015
  • Production dips in Angola, Venezuela support prices
  • Brent crude futures down 0.5 pct at $74.30 a barrel in early trading
  • US WTI crude futures down 0.2 pct at $67.98 a barrel

Precious metals

  • Gold inches up as dollar steadies after recent gains
  • Spot gold up 0.1 pct at $1,323.20 per ounce (0115GMT)
  • US gold futures for June delivery up 0.1 pct at $1,324.40 per ounce

Grains

  • Wheat jumps 1 pct, hits 7-week high on US dryness woes
  • Most active CBOT wheat futures up 1.1 pct at $5.03-3/4 a bushel (0151GMT)
  • Most active corn futures up 0.7 pct at $4.01-1/4 a bushel
  • Most active soybean futures up 0.7 pct at $10.63-3/4 per bushel
  • Most active rice futures down 0.04 pct at $13.00 per hundredweight

Soft commodities (27 Apr)

  • NY cocoa rises as speculators buy, sugar extends rebound
  • July New York cocoa settled up 1 pct at $2,832 per tonne
  • July London cocoa settled up 0.9 pct at £1,892 per tonne
  • May raw sugar finished up 2.3 pct at 11.22 cents per lb
  • August white sugar settled up 1.8 pct at $327.60 per tonne
  • July arabica coffee settled up 2.3 pct at $1.224 per lb
  • July robusta coffee settled down 0.5 pct at $1,762 per tonne

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

  • South Africa M3 data for Mar-18 due [fcst. 5.3% yy, prev. 6.9%]
  • South Africa PSCE data for Mar-18 due [est. 5.7% yy, prev. 5.7%]
  • South Africa trade balance data for Mar-18 expected [est. ZAR0.43B, prev. ZAR3.7B]
  • Nigeria FX reserves data for Apr-18 due [prev. $46.2B]

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

  • Egypt wants to speed up Ethiopia dam negotiations
  • Egypt, France see need for Libyan elections by year-end, after “relative progress”
  • Quantum Global cries foul as Angolan fund seeks more asset freezes
  • Three dead after transport plane crashes at Libya oilfield
  • Egypt says Kuwait agreed ‘in principle’ to renew $4 bln in deposits – agency
  • Transport plane crashes at Libya oilfield – oil official
  • National Bank of Egypt seeking to raise $600 mln club loan – sources
  • Saudi’s SABIC studying access African markets – CEO
  • Tanzania asks bank to finance hydropower project in heritage site
  • Egyptian court jails policemen over wages protest
  • Zimbabwe says will issue cannabis licences to growers
  • Former Malawi president Banda returns home, says ready to prove innocence
  • Egypt’s $15 billion Sinai development expected by 2022, presidential aide says
  • Moody’s says downgrades Angola’s ratings to B3 from B2, stable outlook
  • Moody’s affirms Botswana’s A2 rating
  • Angola’s wealth fund to sack asset manager, president consolidates power
  • S&P says Botswana ‘A-/A-2’ long- and short-term foreign and local currency ratings; affirmed outlook stable
  • Glencore’s Congo mining businesses face $3 bln for freezing orders
  • Ghana’s 91-day bill yield inches up to 13.35 pct
  • Angola’s president named to take helm of ruling party, cementing power
  • Mangroves and mapping help Mozambique tackle climate change
  • Zimbabwe teachers to strike over pay as labour unrest spreads
  • Guinea gives preliminary go-ahead for new bauxite project
  • At least 47 drown fleeing clashes in northwestern Congo
  • UN official in South Sudan says concerned about surge in violence
  • Tens of thousands of uprooted people in Somalia lose homes to flash floods
  • Nairobi stock exchange needs to attract more listings, regulator says
  • Total says first Kaombo FPSO vessel has arrived in Angola
  • Kenya orders electricity tariffs review after complaints
  • Guinea to collaborate with France in Bollore inquiry
  • Mauritius 91-day treasury bill yield falls to 3.56 pct
  • Hengbao to set up smart card related unit in Kenya
  • Ugandan shilling stable, charity flows offer support
  • Kenyan shilling weakens due to dollar demand from oil importers
  • Egypt says non-oil exports increase 15 pct in Q1 of 2018, trade volume grows
  • Vivendi, Orange sign cinema network partnership deal for Africa

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

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