#Africa #Markets | 1 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • US stock futures pare losses as Washington extends tariff exemptions
  • S&P mini futures pare 0.2 pct loss, Asian shares almost flat
  • Trump extends tariffs exemption by 1 month for many allies
  • Dollar supported by yield advantage, euro hurt by softer data

Oil Markets

  • Oil extends gains, buoyed by Iran sanction worries
  • US WTI crude for June delivery up 0.2 pct at $68.68 a barrel (0114GMT)
  • London Brent crude for new July delivery up 11 cents at $74.80

Precious metals

  • Gold inches down as dollar stays firm near 3-1/2-month peak
  • Spot gold down 0.1 pct at $1,314 per ounce (0106GMT)
  • US gold futures for June delivery down 0.3 pct to $1,315.10 per ounce

Grains

  • Corn falls from 9-mth high, planting delays cap losses
  • Most active CBOT wheat futures down 0.4 pct at $5.08-1/2 per bushel (0226GMT)
  • Most active corn futures down 0.1 pct at $4.00-1/2 a bushel
  • Most active soybean futures down 0.2 pct at $10.46-1/2 a bushel
  • Most active rice futures down 0.2 pct at $13.05 per hundredweight

Soft commodities (30 Apr)

  • NY cocoa pares sharp losses, raw sugar up ahead of expiry
  • July New York cocoa settled down 0.2 pct at $2,825 per tonne
  • July London cocoa settled up 0.7 pct at £1,905 per tonne
  • May raw sugar closed up 2.7 pct at 11.52 cents per lb
  • August white sugar settled up 1 pct at $330.80 per tonne
  • July arabica coffee settled up 0.3 pct at $1.228 per lb
  • July robusta coffee settled down 0.3 pct at $1,756 per tonne

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

  • South Africa ABSA Manufacturing PMI for Apr-18 due [prev. 46.9]
  • Labour day holidays across Africa; South Africa’s Ramaphosa speech to be keenly followed

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

  • Gabon court orders prime minister to resign, parliament dissolved
  • South Africa’s Paramount in talks to boost Saudi arms industry
  • IMF approves next disbursement under Ghana’s aid deal – sources
  • Burundi jails official for saying president’s foes should be thrown in lake
  • Chad parliament approves new constitution expanding president’s powers
  • Rwanda to boost spending by 15.5 pct in 2018/19
  • Angola central bank leaves main interest rate unchanged at 18 pct
  • Police fire tear gas at refugees in camp in western Rwanda
  • Icebergs could float to the rescue of Cape Town water crisis
  • Somalia’s former defence minister elected new speaker of parliament
  • Nigeria’s forex buffer up 2.9 pct from month ago to $47.4 bln on April 25 – central bank data
  • Algeria to end import ban on mobiles, food, home appliances – minister
  • Savannah Petroleum considers sell-down in Niger before first oil
  • Comoros to hold referendum on presidential term limits in July
  • Heavy rains, landslides kill at least 100 in Kenya: Red Cross
  • ICRC says 10 aid workers freed after going missin in South Sudan
  • Kenya inflation drops to 3.73 pct in April
  • Islamic State ally stakes out territory around Lake Chad
  • Algeria’s Sonatrach boosted gas output by 5 pct in 2017 – CEO
  • South Africa’s March budget balance swings to deficit y/y
  • Morocco’s CIH Bank to raise 1 bln dirhams in domestic bond issue
  • South Africa’s trade balance swings to 9.47 bln rand surplus in March
  • Egypt’s M2 money supply up 21.85 pct y/y in March – c.bank
  • World Bank approves $180 mln loan guarantee for Kenya’s energy sector
  • Botswana’s central bank holds lending rate at 5 pct
  • Ugandan inflation falls to 1.8 pct in April
  • Offshore investors net buyers of South African stocks, bonds
  • South Africa’s credit demand growth quickens to 5.96 pct in March

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

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