#Africa #Markets | 4 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares rise as upbeat US jobs data offsets trade worries
  • Ex-Japan Asia up 0.3 pct, Nikkei up 1.0 pct
  • Strong US job data confirms current economic momentum
  • Trade frictions still undermine investor confidence

Oil Markets

  • Crude oil prices ease on record US output, higher OPEC supplies
  • Brent down 0.2 pct at $76.67 barrel (0159GMT)
  • US WTI crude futures up 0.1 pct at $65.87 a barrel

Precious metals

  • Gold prices steady amid rate hike prospects
  • Spot gold nearly unchanged at $1,293.06 per ounce (0111GMT)
  • US gold futures for August delivery down 0.2 pct at $1,297.10 per ounce

Grains

  • Corn marks lowest in nearly 6 wks on crop-friendly US weather
  • Most active CBOT wheat futures down 0.8 pct at $5.19-1/4 per bushel (0039GMT)
  • Most active corn futures down 0.8 pct at $3.88-1/2 per bushel
  • Most active soybean futures down 0.7 pct at $10.14-1/2 per bushel
  • Most active rice futures unchanged at $11.45 per hundredweight

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

  • Zimbabwe’s Mnangagwa to open 3-day investment summit today
  • South Africa Q1 2018 GDP data due tomorrow [fcst. -1.2% qq saa, prev. 3.1%]

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

  • At least 48 migrants dead after boat sinks off Tunisian coast
  • Nigerian police invite Senate president for questioning over armed robberies
  • Lebanese tourist referred to criminal trial for insulting Egypt on Facebook
  • Ivory Coast’s Ouattara says he’s free to run again in 2020 – Jeune Afrique
  • Kenya launches pilot oil export scheme via Mombasa
  • Landlocked Ethiopia plans new navy as part of military reforms
  • Building collapes kills at least three in Kenyan capital
  • Egypt raises piped drinking water charges by up to 46.5 pct
  • Mali police fire teargas to break up banned opposition march
  • Sisi sworn in for second Egyptian presidential term amid crackdown on critics
  • Ethiopia to lift emergency rule two months early, declaring unrest over
  • Guinea Bissau’s economy to grow by 5.3 pct this year – IMF
  • Tanzania to issue mining licenses through cabinet approval
  • Nigeria’s IPO market shows signs of life after drought
  • Nigeria’s forex reserves up 0.27 pct m/m at $47.92 billion as of May 30
  • Zimbabwe’s Mnangagwa tells investors ZANU-PF will remain in power
  • Morocco warns consumer boycott will put off foreign investment
  • Kenya orders polygraph tests of public employees in graft crackdown
  • Malawian tax officials shut head office of critical media group
  • Nigeria’s Stanbic shares traded in block deal worth about $195 mln
  • King Leopolds’ ghost: Belgium’s Africa museum to reopen
  • South African fuel prices to rise by more than 5 pct in June
  • Ghana gold output up 10.2 pct to 2.805 mln oz in 2017 – Chamber of Mines
  • eSwatini says keeping Taiwan diplomatic relations despite Chinese pressure
  • Anglophone Cameroon’s seperatist conflict gets bloodier
  • South Africa’s new vehicle sales up 2.4 pct in May
  • Zimbabwe removes requirement for foreign mines to list
  • Congo Supreme Court rejects Glencore bid to move dissolution case
  • Barclays Africa to join Nigeria bourse in July as broker
  • Tycoon Bollore predicts his group would suffer from Africa graft allegations
  • South Africa’s ABSA PMI falls in May after new sales fall
  • South Africa to open bidding round for green energy contracts in November
  • South Africa’s Metair bids $350 mln for Slovenian car battery maker

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

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