#Africa #Markets | 6 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks edge up as techs lift Wall St, Italy still a worry
  • MSCI Asia-Pacific index up 0.1 pct, Nikkei dips 0.1 pct
  • Tech sector strength takes Nasdaq to record high
  • Euro supported as new Italy PM rules out euro zone exit
  • But new Italy PM also stirs debt concerns

Oil Markets

  • US oil prices inch up on fall in local crude stockpiles
  • Brent down 0.1 pct at $75.30 a barrel (0020GMT)
  • US WTI crude futures up 0.2 pct at $65.62 a barrel

Precious metals

  • Gold edges up as dollar, treasury yields ease
  • Spot gold up 0.2 pct at $1,297.64 per ounce (0106GMT)
  • US gold futures for August delivery steady at $1,301.80 per ounce

Grains

  • Wheat ticks higher, extends gains on crop condition concerns
  • Most active CBOT wheat futures up 0.3 pct at $5.11-3/4 per bushel (0113GMT)
  • Most active corn futures up 0.5 pct at $3.85-3/4 per bushel
  • Most active soybean futures up 0.4 pct at $10.04-3/4 a bushel
  • Most active rice futures down 0.1 pct at $10.93 per hundredweight

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

  • South Africa SACCI business confidence data for May-18 expected
  • Nigeria Q1 current account & trade data expected

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

  • Morocco’s Centrale Danone workers protest job losses due to boycott
  • Nigeria lawmakers issue demands to president amid strained relations
  • Algeria cabinet endorses higher customs duties
  • Ethiopia opens up telecoms, airline to private, foreign investors
  • Egypt’s cabinet submits resignation to President Sisi – statement
  • Kenya says plane on domestic flight missing, search halted until dawn
  • Ethiopia says will “fully accept, implement” 2000 deal with Eritrea
  • Libyan central bank governor says reforms will come this summer
  • Kenya court denies bail to suspects in $100 mln graft scandal
  • African Crude – West African crude market under pressure due to plentiful supply
  • Peugeot to start Nigeria assembly plant by Q1 – local partner
  • South Africa’s Harmony Gold says to sell up to $99 mln of new shares
  • South African rand falls to 2-wk low as economy slumps, stocks flat
  • Zimbabwe opposition rallies to demand election reform
  • South African police seize documents from MTN over Turkcell case
  • At least 60 dead after Tunisian migrant ship sinks – IOM
  • Ivory Coast banks struggle with fallout from 2016/17 cocoa crisis
  • US asks some OPEC producers to pump more oil, no specific future – sources
  • Egypt to begin importing rice after slashing its own cultivation
  • What’s in a name? Winnie fervour boils over at Cape Town airport meeting
  • Egypt’s parliament passes 2018-2019 budget
  • South Africa’s economy shrinks in Q1, dampening ‘Ramaphoria’
  • South Africa rejects Zuma’s request to delay Friday court hearing
  • Egypt’s non-oil business activity slows in May, PMI shows
  • Mainstream secures financing for two South African wind projects
  • Ugandan shilling holds steady as appetite tails off
  • South Africa’s gross spending down 2.5 pct in first quarter
  • South Africa’s Q1 GDP contracts 2.2 pct q/q
  • Ethiopia’s parliament approves government’s move to end emergency rule
  • Kenyan shilling appreciates against the dollar
  • Auditor casts doubts on Kenya’s ARM Cement’s viability after losses

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

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