#Africa #Markets | 15 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks pull back as investors eye new risks; oil higher
  • MSCI Asia-Pacific index down 0.65 pct, Nikkei shade lower
  • Brent crude hovers just below 3-1/2-yr highs
  • Dollar mildly supported after bouncing on Fed Mester’s comments

Oil Markets

  • Oil near Nov. 2014 highs firm as markets tighten amid OPEC cuts, Iran sanctions
  • Tight supplies come amid strong global demand
  • Global supply overhang of 2014-2017 virtually eliminated – OPEC
  • Brent crude futures up 14 cents at $78.37 per barrel (0028GMT)
  • US WTI crude futures up 13 cents at $71.09 a barrel

Precious metals

  • Gold prices little changed amid firm dollar
  • Spot gold up 0.1 pct at $1,314.24 per ounce (0056GMT)
  • US gold futures for June delivery down 0.3 pct at $1,314.10 per ounce

Grains

  • Soybeans firm as China continues to buy US supplies
  • Most active CBOT wheat futures up 0.9 pct at $4.95-3/4 per bushel (0220GMT)
  • Most active corn futures up 0.8 pct at $3.99-3/4 per bushel
  • Most active soybean futures up 0.6 pct at $10.24-1/4 per bushel
  • Most active rice futures up 0.3 pct at $12.55 per hundredweight

Soft commodities (14 May)

  • Arabica coffee at 3-wk low, cocoa also drops
  • July arabica coffee settled down 1.5 pct at $1.176 per lb
  • July robusta coffee settled down 0.9 pct at $1,742 per tonne
  • July New York cocoa settled down 0.9 pct at $2,779 per tonne
  • July London cocoa settled down 1 pct at £1,927 per tonne
  • July raw sugar settled up 0.4 pct at 11.26 cents per lb
  • August white sugar settled up 0.1 pct at $321.10 per tonne

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

  • Nigeria inflation data for Apr-18 due [fcst. 12.2% y/y, prev. 13.3%]
  • Court judgement on embattled Cape Town mayor Patricia de Lille case today

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

  • Egypt orders 20 more alleged metro protesters detained
  • South Africa appoints interim board at troubled state firm Transnet
  • Four Egyptian workers killed by land mine near new capital – sources
  • Sudan reshuffles cabinet, replacing oil and foreign ministers
  • Kenya court rejects plea for equal property rights in divorce
  • Nigeria issues crude oil contracts expected to last 2 years
  • Sinosteel to invest $1 bln in Zimbabwe, lift ferrochrome output
  • Strike shuts off 1.2 mln T bauxite output at Guinea SMB mine
  • Shanta Gold to expand search in Tanzania, as new law deter others
  • Randgold says mining firms continue to engage with DRC govt at all levels
  • Africa Crude – Nigerian overhang persists, most of June programme still for sale
  • Kenyan doctors angered by move to hire Cuban doctors
  • Exiled Ethiopian opposition group holds talks with govt
  • Vodacom Tanzania eyes more spectrum after solid annual earnings growth
  • South Sudan conflict mediator warns against wasting talks
  • WHO gets approval to use Ebola vaccine in DRC
  • Egyptian Muslim leaders condemn US embassy move to Jerusalem
  • Thor Explorations aims to lead Nigeria’s new mining pack
  • Shell, Eni trial on Nigeria corruption re-adjourned to June
  • Glencore, Barrick expect prospecting license for Tanzania nickel project
  • WHO says 19 dead, 39 infected so far in Congo Ebola outbreak
  • TPG invests $47.5 mln in Kenyan digital payments firm Cellulant
  • Offshore investors net sellers of South African stocks, bonds
  • South African police confirm explosive device found at mosque
  • Tanzania invites bids for logging of Selous Game Reserve
  • Zimbabwe bans banks from processing payments for cryptocurrencies
  • Lonmin’s status as a going concern remains uncertain – CFO
  • South African hospital operator Netcare boosted by domestic market
  • Angola LNG plant sells mid-May cargo to Brazil’s Petrobas – sources
  • Egypt’s foreign inflows exceeded $120 billion since 2016 pound float – cbank

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

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