#Africa #Markets | 29 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Shares fall on Italian turmoil, euro, oil at multi-week lows
  • MSCI ex-Japan barely moved, hovers near 1-wk top
  • Brazil trucker strike could hurt Asian emerging markets
  • Euro near 6-1/2 month lows on political turmoil in Italy
  • Oil remains in downward spiral, gold flat

Oil Markets

  • Oil prices mixed but expected output increase drags
  • Brent crude futures up 0.8 pct at $75.87 a barrel (0028GMT)
  • US WTI crude futures down 1.2 pct at $67.08 a barrel

Precious metals

  • Gold prices inch up, but stronger dollar weighs
  • Spot gold up 0.2 pct at $1,300.20 per ounce (0057GMT)
  • US gold futures for June delivery down 0.3 pct at $1,300 per ounce

Grains

  • Wheat jumps 1 pct to hit more than 10-mth high
  • Most active CBOT wheat futures up 1.1 pct at $5.48-3/4 per bushel (0030GMT)
  • Most active corn futures up 0.6 pct at $4.08-1/2 a bushel
  • Most active soybean futures up 0.4 pct at $10.46 per bushel
  • Most active rice futures down 0.2 pct at $11.55 per hundredweight

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

  • South Africa’s Deputy President Mabuza to answer questions in parliament today
  • Nigeria celebrates “Democracy Day” today; Buhari to address nation
  • Eastern, southern African finance leaders to debate China’s yuan as a reserve currency today in Harare, Zimbabwe; under the aegis of the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)
  • Zambia inflation data for May expected [fcst. 7.9% yy, prev. 7.4%]

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

  • African finance leaders to debate China’s yuan as a reserve currency – Xinhua
  • Mali president confirms he will run for re-election
  • Soccer – Nigeria held to draw in World Cup warm-up
  • West Libya factions raise doubt on Paris talks
  • War crimes court due to start probes in Central African Republic – UN
  • France offers citizenship to Malian immigrant who scaled building to save child
  • Union may strike over black employees’ share plan at South Africa’s Sasol – state mediator
  • Croatia refuses to extradite Bosnian sought for murder by Tunisia
  • ArcelorMittal South Africa to sell stake in Macsteel, shares rise
  • Kenyan regulator could force Safaricom to share agents’ network
  • South Africa’s Telkom to counter revenue fall with mobile focus
  • South African court unfreezes Gupta family assets – EWN
  • S&P reprieve supports resurgence in South African bonds
  • Algeria annual inflation drops in April to 4.3 pct
  • Kenya central bank holds main lending rate at 9.5 pct
  • Kenya charges 54 people in graft investigation, plans to probe banks
  • Tunisia’s central bank holds key rate unchanged at 5.75 pct
  • South African sugar maker Tongaat eyes Angola for growth
  • South Africa weather service sees El Nino building
  • Kenya’s top prosecutor says will examine banks’ role in graft probe
  • Tunisia ruling coalition fails to agree on economic reforms, cabinet reshuffle
  • Madagascar top court orders president to dissolve govt, appoint unity prime minister
  • New Development Bank says approves six new projects
  • Egypt to sell up to 4 pct of Eastern Tobacco stake on Cairo exchange
  • South Africa’s Telkom FY earnings fall 18.4 pct on higher tax rate
  • Kenya arrests youth service chief after theft of funds – media
  • South Africa aims for ‘zero carbon’ buildings in green push

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

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