#Africa #Markets | 5 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks edge down after rally, focus back on fundamentals
  • MSCI Asia-Pacific index down 0.1 pct, Nikkei climbs 0.2 pct
  • Focus back on economic fundamentals after strong US jobs data
  • US yields rise as risk appetite revives, supports dollar
  • Crude oil prices crawl up after 3 sessions of losses

Oil Markets

  • Oil climbs, but record US crude output, higher OPEC supplies drag
  • Brent crude futures up 0.2 pct at $75.44 a barrel (0020GMT)
  • US WTI crude futures up 0.4 pct at at $65.03 a barrel


  • Corn recovers from 6-week low on USDA condition report
  • Most active CBOT wheat futures up 0.9 pct at $5.10 per bushel (0117GMT)
  • Most active corn futures up 0.3 pct at $3.82 per bushel
  • Most active soybean futures up 0.3 pct at $10.04-1/2 a busel
  • Most active rice futures up 0.1 pct at $11.23 per bushel

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

  • SouthAfrica Q1 2018 GDP data due [fcst. -1.2% qq saa, prev. 3.1%]
  • Sahrawi Arab Democratic Republic president, Brahim Ghali, to begin working visit to South Africa today

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

  • At least 180 prisoners at large in Nigeria after jail raid
  • SocGen agrees to more than $1 bln in fines over Libya, Libor probes
  • Kenyan officials to face fresh vetting in graft clampdown
  • Golar’s Cameroon FLNG project starts commercial operations
  • UN aid chief backs stepping up sanctions on South Sudan
  • Tanzania sees GDP growth at 7.2 pct this year – finmin
  • Moroccan consumer boycott pushes Central Danone dairy firm into the red
  • Deutsche Bank scales back in South Africa in strategy shift
  • ILO official named Madagascar prime minister to prepare election
  • Africa Crude – Nigerian barrels struggle to find buyers
  • Medical workers in Congo city finish vaccinating contacts of Ebola patients
  • Kenya Airways seeks to run main Nairobi airport to boost earnings
  • Algeria hires US law firm to help with new energy law
  • KPMG to lay off 400 employees in South Africa in latest shake-up after scandal
  • Steinhoff International’s credit insurers withdraw cover
  • Congo’s Virunga to stay shut until next year after ambush
  • South Africa’s public servants to strike next week over wages
  • Egypt net foreign reserves rise to $44.14 bln at end-May – cbank
  • Two killed in abandoned mine in Morocco – agency
  • Kenyan shilling firm on offshore liquidity
  • South Africa’s Zuma behind backlash against Ramaphosa, ANC ally says
  • Kenyan ride-hailing happ Little sells stake of around 10 pct for $3 mln
  • CEO of South Africa’s Novus Holdings resigns
  • Lack of hope in South Sudan camps drives youth into gang crime
  • Emmerson raises cash for Moroccan potash project
  • Caffeine high? Climate-hit Ethiopia shifts coffee uphill
  • Kenya Airways eyes Cseries for short-haul order

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

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