#Africa #Markets | 24 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia markets lower on renewed US-China trade concerns
  • Trump says ‘different structure’ needed in US-China trade talks
  • US Federal Reserve minutes reassure on rate rises
  • Oil prices flat after Wednesday falls in US inventory build

Oil Markets

  • Oil prices drop on potential increase in OPEC output
  • Brent crude futures down 0.2 pct at $79.65 per barrel (0103GMT)
  • US WTI crude futures down 0.1 pct at $71.74 a barrel

Precious metals

  • Gold prices extend gains after dovish Fed stance
  • Spot gold up 0.1 pct at $1,294.58 per ounce (0046GMT)
  • US gold futures for June delivery up 0.3 pct at $1,294 per ounce


  • Soybeans firm, hit 20-day as China to buy US supplies
  • Most active CBOT wheat futures up 0.2 pct at $5.32-1/4 per bushel (0137GMT)
  • Most active corn futures up 0.1 pct at $4.09 per bushel
  • Most active soybean futures up 0.4 pct at $10.43-1/2 per bushel
  • Most active rice futures down 0.2 pct at $11.90 per hundredweight

Soft commodities (23 May)

  • Sugar extends gains to highest in more than 6 weeks
  • July raw sugar settled up 1.7 pct to 12.35 cents per lb
  • August white sugar settled up 1.9 pct at $349.90 per tonne
  • July New York cocoa settled up 1.1 pct at $2,618 per tonee
  • July London cocoa settled up 1.4 pct at £1,882 per tonne
  • July arabica coffee settled down 1.2 pct at $1.1935 per lb
  • July robusta coffee settled down 2.2 pct at $1,751 per tonne

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

  • AfDB annual meetings continues in Busan, South Korea (21-25 May)
  • South Africa’s central bank to decide interest rates [fcst. 6.25%, prev. 6.5%]

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

  • Nigeria’s military committed war crimes, crimes against humanity – Amnesty
  • Libya cuts oil output by up to 120,000 bpd due to power problems – official
  • Algeria to expel 105 Malians over Ansar Eddine militant group – source
  • South Sudan peace talks end without deal – mediators
  • US to send experimental ebola treatment to Congo – official
  • Voltalia signs power sale contract in Kenya
  • Egypt and Russia sign 50-yr industrial zone agreement
  • France to push Libya accord at new Paris meeting, diplomats say
  • South Africa’s Ramaphosa sets up inquiry into tax service under Zuma
  • Libyan oilfield suffers ‘distribution delay’ amid protest threat
  • Ebola patients slip out of a Congo hospital as medics try to control outbreak
  • Africa Crude – HPCL takes Nigerian, more programmes emerge
  • Kenya central bank 15-yr bond yield at 13.078 pct in auctions
  • Protesters urge workers at Libya’s eastern Wahan oilfield to stop production
  • Zimbabwe army won’t allow opposition to rule – minister
  • Nigeria’s Trans Forcados crude oil pipeline ramping back – sources
  • Irregular expenditure almost doubles at South African municipalities – Auditor General
  • Libya ships first cargo of propane gas to Italy in four years – NOC
  • Freeing Congo’s Mokoko must be condition for IMF deal – opposition lawyers
  • Zuma ally resigns after anti-graft protests in South African province
  • Guinea parliamentary majority rejects calls for Bollore inquiry
  • AngloGold plans 2,000 job cuts in South Africa
  • Egypt detains prominent blogger, latest in arrest series
  • Botswana court reverses ruling to end Tati Nickel’s liquidation
  • Ethiopia opens up telecoms sector to limited competition
  • Change policy to scale up climate-smart farming in Africa – experts
  • Royal Air Maroc, Alitalia sign code sharing deal
  • Shell says Nigeria’s Bonny Light crude still under force majeure
  • Rwanda signs tourism sponsorship deal with Arsenal
  • Algeria’s Sonatrach says no plans to buy more foreign refineries
  • South African provincial premier steps down after anti-graft protest
  • Ghana producer inflation rises to 6.4 pct in April
  • Storm in Somaliland kills dozens, wipes out farms, livestock
  • Crisis-hit Steinhoff repays $2.3 bln African debt
  • South Africa’s CPI jumps in April to 4.5 pct as VAT pain, fuel hikes kick-in
  • Cholera outbreak kills 12 in northeast Nigeria
  • South Africa kidnappers demand ransom in bitcoin to free teenager
  • Egypt tourism revenue jump 83 pct to $2.2 bln in Q1 – govt official
  • UK court convicts pensioner for raping girls in Kenya

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.