#Africa #Markets | 23 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares pressured as Trump tempers Sino-US trade optimism
  • Trump says not pleased by recent trade talks with China
  • Turkish lira tumbles after rating agency warnings
  • Oil prices near 3 1/2 –year high on supply concerns

Oil Markets

  • Oil dips after rally, OPEC may ease supply curbs
  • Brent futures down 4 cents to $79.53 a barrel (0006GMT)
  • US WTI crude futures down 2 cents to $72.18 a barrel

Precious metals

  • Gold rises, market eyes US-China trade talks, Fed minutes
  • Spot gold up 0.2 pct at $1,293.53 per ounce (0112GMT)
  • US gold futures for June delivery little changed at $1,292.50 per ounce

Grains

  • Wheat firms to linger near 18-day high on fears for global production
  • Most active CBOT wheat futures up 0.6 pct at $5.24-3/4 a bushel (0100GMT)
  • Most active corn futures up 0.2 pct at $4.05-1/2 per bushel
  • Most active soybean futures down 0.1 pct at $10.29-3/4 per bushel
  • Most active rice futures unchanged at $12.33 per hundredweight

Soft commodities (22 May)

  • Raw sugar at 5-wk high on India buffer stocks plan
  • July raw sugar settled up 0.4 pct at 12.15 cents per lb
  • August white sugar settled up 0.9 pct at $343 per tonne
  • July New York cocoa settled down 1 pct at $2,589 per tonne
  • July London cocoa settled down 0.3 pct at £1,857 per tonne
  • July arabica coffee settled up 0.5 pct at $1.2085 per lb
  • July robusta coffee settled down 0.3 pct at $1,790 per tonne

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

  • AfDB annual meetings continue in Busan, South Korea (21-25 May)
  • South African inflation data for Apr-18 due [fcst. 3.9% yy, prev. 3.8%]
  • South Africa’s Ramaphosa presents budget for presidency in parliament today
  • Zimbabwe’s Mugabe could testify before parliament today in $15 bln diamond revenue loss probe

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

  • Ghana president demands criminal probe into soccer body chief
  • Rights group accuses Egypt of mass demolition of homes in Sinai
  • Two more die of Ebola in Congo; seven new cases confirmed
  • UN criticizes Algeria for mass deportations of migrants
  • Clashes intensify in east Libya as car bomb kills two
  • Shell’s oil spill dispute with Nigeria’s Bodo villagers back in UK court
  • Former PM says Libya risks partition if it rushes to elections
  • Africa Crude – Nigeria market struggles with unsold cargoes
  • With Nigeria’s central bank holding rates, doubts arise over cuts
  • Nigeria’s central bank keeps benchmark lending rate at 14 pct.
  • Barry Callebaut to boost Ivory Coast cocoa grinding capacity
  • South Africa land reform unlikely to mean constitutional change – analysts
  • Burkina Faso forces kill 3 suspected Islamist militants in early morning raid
  • South Africa’s ANC to “test constitution” on land expropriation
  • Ivory Coast grinding up 2 percent by end-April – exporters
  • Yields rise in weekly South African govt bond auctions
  • South Africa’s finimin Nene says outlook for tax revenues unchanged
  • Kenyan shilling weakens on increased importer demand
  • Ugandan shilling unchanged, weakened by fuel importer demand
  • ATON raises stake in South African target Murray & Roberts to 40 pct
  • Egypt sets deadlines for oil and gas exploration bids
  • Africa’s green revolutions stumbles at Congo project to solve food shortages

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

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