#Africa #Markets | 14 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks up on US-China thaw, Malaysian shares bounce, ringgit falls
  • MSCI ex-Japan near 2 mth highs, Chinese shares jump
  • Trump says to help ZTE “get back into business, fast”
  • Malaysian Ringgit hits 4-mth lows after election outcome

Oil Markets

  • Oil cautious on rise in US drilling, Iran sanctions opposition
  • US rig count rises to its highest level since March 2015
  • Europe, Asia oppose US plans for new sanctions against Iran
  • Brent crude futures at $77.07 per barrel, down 5 cents (0010GMT)
  • US WTI crude futures down 4 cents to $70.66 a barrel

Precious metals

  • Gold prices rise as US rate hike view grounds dollar
  • Spot gold up 0.3 pct to $1,321.20 per ounce (0045GMT)
  • US gold futures for June delivery up 0.1 pct at $1,321.50 per ounce

Grains

  • Soybeans edge up from 5-wk low
  • Most active CBOT wheat futures down 0.4 pct at $4.96-3/4 a bushel (0109GMT)
  • Most active corn futures down 0.3 pct at $3.95-1/4 per bushel
  • Most active soybean futures up 0.6 pct at $10.09 per bushel
  • Most active rice futures up 0.2 pct at $12.68 per hundredweight

Soft commodities (11 May)

  • Raw sugar prices weaken on excess supplies, arabica eases
  • July raw sugar settled down 0.4 pct at 11.22 cents per lb
  • August white sugar settled down 0.8 pct at $320.70 per tonne
  • July arabica coffee settled down 0.1 pct at $1.194 per lb
  • July robusta coffee settled up 0.9 pct at $1,758 per tonne
  • July New York cocoa settled up 1.6 pct at $2,805 per tonne
  • July London cocoa settled up 0.8 pct at £1,946 per tonne

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

  • 51st session of the Economic Commission for Africa (“AfCFTA: Creating fiscal space for jobs and economic diversification”) continues in Addis Ababa (11-15 May)
  • Nigeria’s Buhari to visit northwestern Jigawa state today [in continuation of what is beginning to seem like a political campaign tour of states]

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

  • Sudan sets major cabinet reshuffle – state news agency
  • Congo, UN deploy specialists to tackle Ebola epidemic
  • WHO has 4,000 Ebola vaccines ready for Congo deployment
  • Suspected explosive device found at South Africa mosque
  • Algeria’s Sonatrach to sharpen focus on petrochemicals
  • Nigeria’s Abubakar to privatise parts of state oil firm if elected
  • New president calls on people to transform Sierra Leone
  • Tanzania cancels licence of Barrick, Glencore nickel project
  • Protests in Cairo over metro fare rises – social media
  • Russia Today removes poll on disputed territory after Egypt protest
  • Attackers kill 26 in northwest Burundi ahead of vote
  • Madagascar president lifts restrictions on opposition candidates
  • Congo army, park rangers search for kidnapped Britons [Found & released]
  • Ex-Congo Republic army chief, opposition figure jailed for 20 years
  • Activist held after posting video critical of Egyptian govt – Amnesty International
  • S&P raises Egypt’s sovereign credit rating to B from B-
  • Fitch affirms Cameroon at ‘B’; outlook stable
  • Ghana’s 91-day bill yield rose to 13.37 pct
  • Nigeria’s Buhari returns home after seeing doctor in the UK
  • Ranger killed, two British nationals kidnapped in Congo national park
  • Burst dam at Kenyan rose farm lacked permits, police investigate
  • South Sudan lifts subsidies, adding to high inflation
  • Northwest Congo hospital receives new suspected Ebola case
  • South African rand hits 3-week high vs dollar
  • UN reports 120 unexplained deaths in northeast Congo
  • Nigeria capital inflow hit $6.3 bln in Q1 driven by foreign investors
  • Zimbabwe’s Mnangagwa raises war veterans pensions ahead of election
  • UAE extends military reach to in Yemen and Somalia
  • WHO hopes to use Ebola vaccine to stem outbreak in remote area of Congo
  • France’s Total signs $1.5 bln Sonatrach deal for Algerian project
  • South Africa’s Competition Tribunal approves merger between Bayer and Monsanto with conditions
  • Kenya to sell 15-yr treasury bond this month – central bank
  • South Africa’s Solidarity union seeks at least 10 pct wage hikes in gold sector
  • Angola plans to privatise more than 70 companies in medium term – prospectus
  • Yields mixed at South African CPI-linked bond auction
  • Vodacom Tanzania eyes more spectrum after solid annual earnings growth
  • South Africa’s 3-mth t-bill average yield steady at 7.1 pct
  • Hungary defects fresh case of African swine fever in wild boar
  • Kenya shilling eases due to increased energy sector dollar demand
  • South Africa police probe “extremism” element in mosque attack
  • South Africa’s Impala Platinum seeks tenders for Marula tailings facility
  • Kenya’s top prosecutor orders dam disaster investigation

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

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