#Africa #Markets | 8 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares wobbly as risk sentiment sours, euro buoyant
  • MSCI ex-Japan slip from 2-1/2 month highs
  • Euro near 3-wk highs as ECB seen tapering stimulus
  • US jobless claims drops, pointing to tightening labour market
  • Copper at 4-1/2 year highs, oil prices strong

Oil Markets

  • Oil prices rise on ongoing Venezuelan supply trouble
  • Venezuela struggling to get 24 mln barrels of oil to customers
  • South American nation’s woes come amid OPEC production cuts
  • Surging US output widens WTI crude spread to Brent
  • Brent crude futures up 0.2 pct at $77.45 per barrel (0051GMT)
  • US WTI crude futures up 0.3 pct at $66.14 a barrel

Precious metals

  • Gold steady as investors wait for next week’s Fed meeting
  • Spot gold steady at $1,296.60 per ounce (0052GMT)
  • US gold futures for August delivery down 0.2 pct at $1,301.10 per ounce


  • Soybean prices edge up, but still set for biggest weekly loss in 10 mths
  • Most active CBOT wheat futures up 0.9 pct at $5.31-1/2 a bushel (0140GMT)
  • Most active corn futures up 0.1 pct at $3.76-1/2 a bushel
  • Most active soybean futures up 0.1 pct at $9.75 a bushel
  • Most active rice futures down 1 pct at $11.10 per hundredweight

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

  • G7 summit starts in Canada today; Kenya’s Kenyatta attending

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

  • Armed with micro grants and training, rural Ugandans tackle poverty
  • South African fossils rewrite early history
  • Congo reports first confirmed Ebola case in over a week
  • UN sanctions six people on Libya human trafficking
  • Ghana to dissolve football association over bribery allegations
  • Land reform isn’t a threat, South Africa’s Ramaphosa tells white Afrikaners
  • Maasai clash with Tanzania in court over eviction from Serengeti
  • South Sudan and Sudan agree to repair damaged oil infrastructure
  • Ghana sells 477.6 mln cedis ($101.6 mln) worth of 10-yr bond
  • Algeria sees energy law amendments in early 2019
  • South African rand, bonds at 5-mth low in panic sell; shares up
  • Zimbabwe’s opposition MDC party vows to revive economy if it wins July election
  • Africa Crude – Nigerian overhang persists; Sonangol sells all July cargoes
  • Nigeria’s central bank to start auctioning Chinese yuan
  • Africans fleeing war top list of world’s most neglected, says charity
  • Burundi’s president says will not seek re-election, easing unrest fears
  • Egypt’s Sisi appoints housing minister as acting premier – state run media
  • Algeria’s Bouteflika stops reforms to assert authority amid health concerns
  • Kenyan lawmakers slash funding for scandal-ridden youth agency
  • Congo mining regulations to be signed into law on Friday – mines minister
  • South Africa’s Eskom plans foreign bond sale, cuts capex
  • Bank of Ghana sells dollars, expects local currency to recover
  • South Africa’s manufacturing inches up 1.1 pct y/y, points to slow economic recovery
  • South Africa’s bonds still a favourite despite GDP setback
  • Botswana Diamonds to buy BCL’s stake in exploration project
  • Moroccan minister resigns over consumer boycott move
  • Tunisia annual inflation rate stood at 7.7 pct in May – official data
  • Uganda shilling weakens further due to demand from oil companies, manufacturers
  • Wreckage of missing Kenyan plane on domestic flight located
  • South Africa’s net foreign reserves fall to $42.87 billion in May
  • After spring floods, Nairobi moves to cut disaster risks

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.