#Africa #Markets | 9 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Oil shines, shares rattled as Trump dumps Iran nuclear deal
  • Oil near 3 ½-year as Trump move threatens global supply
  • Asian shares on defensive amid heightened geopolitical risk
  • Emerging market currencies hit by prospects of higher US rates

Oil Markets

  • Oil prices push higher after US walks away from Iran nuclear deal
  • US plans “highest level” of sanctions against Iran – Trump
  • Most US allies oppose decision to abandon the deal
  • Move to cut Iran supplies amid tight market – analysts
  • Brent crude futures up 1.8 pct at $76.21 per barrel (0005GMT)
  • US WTI crude futures up 1.7 pct at $70.24 a barrel

Precious metals

  • Gold prices dip as dollar regains footing
  • Spot gold down 0.2 pct to $1,311.81 per ounce (0111GMT)
  • US gold futures for June delivery down 0.1 pct to $1,312.40 per ounce

Grains

  • Corn, soybean prices up for 2nd day on US planting delays
  • Most active CBOT wheat futures down 0.3 pct at $5.12-3/4 per bushel (0045GMT)
  • Most active corn futures up 0.1 pct at $4.03-1/2 per bushel
  • Most active soybean futures up 0.1 pct at $10.20-3/4 a bushel
  • Most active rice futures unchanged at $12.76 per hundredweight

Soft commodities (8 May)

  • London cocoa taps highest since 2016, raw sugar jumps
  • July London cocoa settled up 0.1 pct at £1,934 per tonne
  • July New York cocoa settled down 2.6 pct at $2,773 per tonne
  • July raw sugar settled up 2.1 pct at 11.56 cents per lb
  • August white sugar settled up 2 pct at $327.60 per tonne
  • July arabica coffee settled down 1 pct at $1.196 per lb
  • July robusta coffee settled down 1.1 pct at $1,794 per tonne

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

  • South Africa SACCI business confidence for Apr-18 due [prev. 97.6]

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

  • As teenagers die, Zimbabwean lawmakers call for abortion reform
  • Seized Western Sahara cargo released from South Africa after auction – OCP
  • Al Qaeda branch threatens attacks on Western companies in Africa
  • African Guarantee Fund targeting capital of $500 mln by 2021
  • US to review assistance to South Sudan – White House
  • 17 deaths reported in congo as ebola outbreak confirmed
  • Nigeria naira eases as investors repatriate dividend
  • IMF warns of rising African debt despite faster economic growth
  • Nigerian rights group files suit to revoke Malabu oilfield license
  • South Africa’s DA party says image sullied by dispute with Cape Town mayor
  • Congo court temporarily suspends dissolution of Glencore unit
  • Nigerian migrants sue Italy for aiding Libyan coast guard
  • Libya targets oil production capacity above 2 mln bpd by 2022 – NOC
  • South Africa’s Sun International to offer 25.9 million shares in rights offer
  • Glencore’s Congo woes throw spotlight on country’s cobalt dominance
  • Arcelormittal South Africa says CFO Dean Subramanian to leave
  • Zambia assesses debt trajectory as it courts new IMF programme
  • Mauritius 2017 FDI jumps 28 pct y/y – central bank
  • Zimbabwe parliament delays Mugabe’s questioning on diamond revenue
  • Tanzanian inflation dips to 3.8 pct y/y in April
  • South African airline SAA requires $400 mln bailout to stay afloat – treasury official
  • Zambia to complete 50MW World Bank solar project in September
  • Zimbabwe offers 10 pct salary hike to workers as elections approach
  • Union wage demands put South Africa’s spending cuts at risk – finmin
  • Mauritius inflation falls to 3.7 pct in April
  • Seychelles inflation slows to 4.18 pct in April
  • Anglogold maintains production guidance, in talks with Tanzania
  • South Africa’s net foreign reserves fall to $43.1 bln in April

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

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