#Africa #Markets | 7 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares edge ahead, US crude tops $70
  • Asia share markets mostly firmer, Nikkei slips as yen gains
  • Oil prices firm ahead of White House call on Iran deal
  • Relief on US wages data tempered by emerging markets strains
  • Dollar uptrend pauses, supported by outlook for Fed hikes

Oil Markets

  • US oil rises above $70 for first time since Nov. 2014 on Venezuela, Iran worries
  • Economic crisis in Venezuela threatens its oil exports
  • US deadline over Iran looms on May 12
  • But highest US oil drilling since 2015 holds market back
  • US WTI crude futures up 0.7 pct at $70.18 per barrel (0242GMT)
  • Brent crude oil futures up 0.5 pct at $75.22 per barrel

Precious metals

  • Gold prices crawl up as dollar pauses rally
  • Spot gold up 0.2 pct at $1,316.62 per ounce (0034GMT)
  • US gold futures for June delivery up 0.2 pct at $1,317.20 per ounce


  • Wheat drops for 2nd day as US weather improves, soybean prices ease
  • Most active CBOT wheat futures down 1.6 pct at $5.18 per bushel (0029GMT)
  • Most active corn futures down 0.3 pct at $4.03-3/4 per bushel
  • Most active soybean futures down 0.5 pct at $10.31-3/4 per bushel
  • Most active rice futures up 0.4 pct at $12.98 per hundredweight

Soft commodities (4 May)

  • New York cocoa eases, raw sugar sees strongest week for 2018
  • July New York cocoa settled down 2.3 pct at $2,777 per tonne
  • July London cocoa settled down 0.4 pct at £1,932 per tonne
  • July raw sugar settled down 1.5 pct at 11.51 cents per lb
  • August white sugar settled down 0.7 pct at $321.10 per tonne
  • July arabica coffee settled down 1.4 pct at $1.226 per lb
  • July robusta coffee settled down 1 pct at $1,813 per tonne

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

  • Ethiopian PM starts official visit to Kenya today; arrived Nairobi on Sunday
  • AU consortium to stem illicit financial flows from Africa meets today
  • Botswana president in Malawi today for 1-day working visit

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

  • Kenyan herders turn to grazing app to cut drought risks
  • Tunisia’s Ennahda claims victory in landmark local poll
  • At least 45 dead in attack on Nigerian village, police say
  • No secret chamber behind ancient Egypt’s young king Tutankhamen – research
  • South Africa’s KPMG arm welcomes review and owns up to failings
  • King Tutankhamen’s military chariot moved to new Egyptian musuem
  • Khaled Mohieddin, last member of Egypt’s Revolutionary Command Council, dies
  • IMF says Egypt must deepen reforms to catch window of global growth
  • Tunisian annual inflation rises to 7.7 pct in April, record level
  • Final death toll at South African gold mine rises to seven
  • Gabon PM names new cabinet days after court dissolved government
  • Fitch affirms Rwanda at ‘B+’ outlook stable
  • Higher winter temperatures expected in South Africa’s drought-stricken southwest
  • Zambia 2018 maize output to fall about 34 pct – govt
  • Burundi bans the BBC, VOA two weeks before referendum
  • Ghana’s 91-day bill yield eases to 13.32 pct
  • South Africa’s FEDUSA says called on Steinhoff acting CEO Danie Van Der Merwe to resign
  • South African regulator to review KPMG’s local turnaround strategy
  • South African army deployed to provincial hospital after protests
  • Malawi makes it cheaper for women to run in 2019 election
  • No water? Parched Kenyans take up an unlikely new crop: fish
  • Despite violence, Somalia eyes a clean energy future – UN
  • Africa Crude – Angolan trades slowly, IOC issues tender
  • Thousands of rare tortoises rescued from dealers in Madagascar
  • Congo government makes no major concessions to major miners – draft
  • South Africa’s Sibanye to replace KPMG as auditor in 2019
  • Zimbabwe’s Mnangagwa urges party unity to deliver “thunderous” win
  • Angola’s net reserves fall to $12.733 billion in April
  • South Africa serves suspended revenue service head with disciplinary charges
  • Mauritius 91-day treasury bill yield falls to 3.33 pct
  • Egypt says sending troops to Syria a possibility – state newspaper
  • Uganda shilling trades stable as some players unwind positions
  • Malawi’s president says economy to grow by 6 pct in 2019
  • Madagascar opposition calls for govt to resign after court ruling
  • Togo willing to provide evidence to Bollore inquiry – minister
  • Tanzania bloggers win temporary court order against state crackdown
  • Kenya’s Java House aims to spread wings under Abraaj
  • Migrants trapped in Libyan detention centre in “critical” state – MSF
  • South Africa’s 3-mth t-bill average yield steady at 7.1 pct
  • Yields rise at South African CPI-linked bond auction
  • Russian, Egyptian foreign and defence ministers to meet on May 14
  • South Africa’s Libstar meets its $119 million IPO target
  • Vivo Energy, Vitol’s Africa venture, floats with £2 billion valuation
  • China denies US accusation of lasers pointed at planes in Djibouti

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

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