#Africa #Markets | 30 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks take battering as Italian crisis roils financial markets
  • Stocks extend selloff on Italian crisis; Asia follows Wall St slide
  • Edgy investors flee stocks, seek safety in bonds
  • Euro hits 10-mth low, dollar and yen rise
  • US moves on China trade also unnerve investors
  • Oil under pressure after big falls in last 3 days

Oil Markets

  • Oil prices mixed amid worries over growing supplies
  • Brent crude futures down 1 cent at $75.38 a barrel (0015GMT)
  • US WTI crdue futures up 0.2 pct at $66.86 a barrel

Precious metals

  • Gold gains as Italy crisis drives safe-haven buying
  • Spot gold up 0.3 pct at $1,301.98 per ounce (0125GMT)
  • US gold futures for June delivery up 0.2 pct at $1,301.50 per ounce

Grains

  • Wheat pulls back from 10 ½-mth peak; corn, soy also drop
  • Most active CBOT wheat contract down 1.5 pct at $5.28-1/4 a bushel (0127GMT)
  • Most active corn futures down 0.9 pct to $3.96-1/2 a bushel
  • Most active soybeans futures down 0.7 pct to $10.23 per bushel

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

  • South Africa M3 data for Apr-18 due [prev. 6.4% yy, est. 6.7%]
  • South Africa PSCE data for Apr-18 expected [prev. 6.0% yy, est. 6.1%]
  • Zambia inflation for May-18 due [fcst. 7.9% yy, prev. 7.4%]
  • Kenya inflation data for May-18 due [fcst. 3.9% yy, prev. 3.7%]
  • Uganda inflation data for May-18 due [fcst. 1.5% yy, prev. 1.8%]

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

  • Egypt’s Sisi to visit Sudan in October amid tensions
  • Tunisia PM accuses president’s son of destroying ruling party
  • War leaves one in four girls in South Sudan suicidal – report
  • Egyptian officials arrested on suspicion of taking bribes from commodity firms
  • Kenya civil servants brought to court in handcuffs to face theft charges
  • Africa Crude – Unipec offers Angolan, Pertamina issues new tender
  • MTN Ghana aims to raise nearly $750 million in IPO
  • Zimbabwe investigates bribe allegations after hunter indicted in US
  • Congo ruling party shows all signs of seeking Kabila third term
  • South African parliament approves national minimum wage bill
  • Tanzania govt wins court case to impose online regulations
  • Almost all in Congo city at immediate risk of Ebola now vaccinated – WHO
  • South Africa’s rand, stocks drop as Italy turmoil sparks emerging market retreat
  • Libyan factions agree to Dec. 10 elections at Paris talks
  • Kenya finance bill would emasculate central bank – bank governor
  • Tullow Oil picks Australia’s Worley Parsons for Kenya contract
  • At least 10 beheaded in Mozambique attack – state radio
  • Afreximbank to give Angola $2 billion in financing support
  • Angola names Bastos as suspect in fund investigation, state newspaper reports
  • WHO “cautiously optimistic” about ebola outbreak after vaccinations
  • South Africa’s Murray & Roberts rebuffs ATON takeover bid again
  • Steinhoff Africa Retail scraps H1 dividends, makes $40 mln provision
  • Kenya shilling firms, central bank dollar sales help
  • Somaliland authorities arrest demonstrators, journalists covering protest
  • WHO’s Congo ebola plan assumes 100-300 cases over 3 months
  • Kenya central bank working with police in graft investigation
  • Kenya Q1 growth estimated at 5.8 pct: central bank head
  • Kenya’s central bank governor calls for regulation of fintech lenders
  • African finance leaders to debate China’s yuan as a reserve currency – Xinhua

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

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