#Africa #Markets | 31 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks rebound, euro pulls off lows as Italy anxiety cools
  • MSCI Asia-Pacific index up 0.56 pct, Nikkei rises 0.5 pct
  • Euro pulls back from 10-mth lows
  • Crude dips after rallying on ebb in supply concerns

Oil Markets

  • Oil prices dip on unexpected growth in US crude stocks
  • Brent crude down 20 cents at $77.30 per barrel (0041GMT)
  • US WTI crude futures down 20 cents to $68.01 per barrel

Precious metals

  • Gold prices edge higher as the dollar slips
  • Spot gold up 0.2 pct at $1,303.30 per ounce (0053GMT)
  • US gold futures for June delivery up 0.2 pct at $1,304.30 per ounce


  • Wheat extends losses, lingers near 1-wk low
  • Most active CBOT wheat futures down 0.5 pct at $5.19-1/4 per bushel (0127GMT)
  • Most active corn futures up 0.3 pct at $3.94-3/4 a bushel
  • Most active soybean futures down 0.1 pct at $10.21-3/4 per bushel
  • Most active rice futures up 0.7 pct at $11.58 per hundredweight

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

  • United Nations to vote on new South Sudan sanctions today
  • Financial Times Nigeria Summit today in Lagos
  • South Africa producer inflation data for Apr-18 due [fcst. 3.4% yy, prev. 3.7%]
  • 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]

  • Ghana gold miners say welcome new govt export tests
  • Ceasefire monitors accuse South Sudan forces, rebels of civilian killings
  • Central African Republic approves war crimes court
  • Egypt prosecutor orders detention of commodities officials – judicial source
  • Libya’s December election goal faces political, legal, security hurdles
  • Zimbabwe sets first post-Mugabe elections for July 30
  • Miners threaten Congo with legal action over mining code
  • Suspected poachers shot dead in Kenyan national park
  • South Africa’s Nampak first-half profit up 10 pct
  • Africa Crude – Angolan grades firm a touch; Nigerian struggles to find buyers
  • Uganda’s telecoms regulator to probe MTN on mobile money policies
  • Coca-Cola Co’s Africa distributor to invest $100 mln in Kenya over next 5 years
  • Morocco consumer boycott has big business in its sights
  • Ethiopian govt and opposition start talks on amending anti-terrorism law
  • Egypt’s foreign debt rises to $82.9 bln as of end Dec
  • African migrants report torture, slavery in Algeria
  • Egypt to spend $1.4 bln over two years to develop electricity grid
  • Kenyan court blocks new online rules after free speech petition
  • Suspects in Kenya public fund theft case to stay in custody until June 4
  • South Africa’s SPAR Group eyes Sri Lanka expansion amid challenges at home
  • Tullow hires Wood to design Kenyan oil pipeline
  • Zimbabwe elections to be held on 30 July – govt document
  • Kenya shilling steady, end-month demand subsiding
  • South Africa’s credit demand growth slows to 5.1 pct in April
  • South Africa’s Spar Group H1 earnings up on European operations
  • Australia’s FAR cuts capital cost estimate for Senegalese oil project
  • Corridor to the future? Mauritania’s nomadic herders seek safe passage through drought

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

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