#Africa #Markets | 15 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares shaky as US readies China tariffs, euro at 2-wk low on ECB
  • ECB pledges to keep rates at least until mid-2019; euro dives
  • Trump to place $50 bln tariffs on China; China vows to confront

Oil Markets

  • Oil holds a narrow range as OPEC meeting looms
  • Brent crude down 3 cents at $75.91 a barrel (0104GMT)
  • US WTI crude up 0.1 pct at $66.95 a barrel

Precious metals

  • Gold steady below 1-mth high, heads for 2nd weekly gain
  • Spot gold unchanged at $1,301.31 per ounce (0047GMT)
  • US gold futures for August delivery down 0.2 pct at $1,305.10 per ounce

Grains

  • Corn prices fall, set for biggest weekly loss in a year
  • Most active CBOT wheat futures up 0.2 pct at $5.02-1/4 per bushel (0148GMT)
  • Most active corn futures down 0.2 pct at $3.62-1/4 per bushel
  • Most active soybean futures down 0.7 pct at $9.20-3/4 per bushel
  • Most active rice futures down 0.6 pct at $12.24 per hundredweight

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

  • Eid celebrations across Africa today; some countries on public holiday
  • Annual Bank Conference on Africa (ABCA 2018) continues today in California (14-15 Jun)

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

  • Nigeria urged to fix legal mess around female genital mutilation
  • Attach shuts major Libyan oil ports, slashing production
  • US air strike in Libya kills member of al Qaeda affiliate – military
  • Investor Benko strikes deal to buy South Africa’s Steinhoff Austrian unit
  • Sudan inflation above 60 pct in May – statistics agency
  • Wage protests lead to South African power outages
  • Child sex for a dollar on Kenya’s palm-fringed beaches
  • Zambia delays borrowing plans indefinitely – finmin
  • Two killed in knife attack at mosque in South Africa
  • Soccer-In Kenyan prison as in Moscow, Russia beats Saudi Arabia 5-0
  • Africa Crude – Nigerian delays mount, but supply still ample
  • South African rand falls as Eskom begins power outages
  • South Africa’s Eskom says has started controlled power outages
  • Forces under Libya’s Haftar say they’re close to taking eastern holdout
  • Soccer-Morocco to bid for 2030 World Cup after losing 2026 bid
  • Kenya to repal rate cap, introduce ‘Robin Hood’ tax
  • Union cleared to strike over black employees’ scheme at South Africa’s Sasol
  • Tanzania to raise 2018/19 spending by 2.4 pct, sees 7.2 pct GDP growth
  • Mauritius spending to rise 5 pct in 2018/19 – finmin
  • Rwanda’s overall spending to rise 16 pct in 2018/19, sees higher GDP growth
  • Congo miner Gecamines plans to renegotiate with foreign partners
  • Malawian telecoms company TNM’s 2017 profit up 60 pct
  • Kenya’s finmin proposes reforms to boost bank lending
  • Kenya finmin lowers 2018/19 budget deficit to 5.7 pct of GDP
  • Sierra Leone in fourth bid to launch oil sector with licensing round
  • Kenyan and Ugandan currencies could weaken in week ahead
  • Uganda to raise 2018/19 spending by 13 pct, sees higher GDP growth
  • South African regulator says Eskom can recover $2.5 bln through higher tariffs
  • Egypt replaces finmin in new cabinet – ministry of finance
  • Zimbabwe’s Mnangagwa, main rival sign up for first post-Mugabe election
  • South Sudan’s cabinet passes $63 mln budget for 2018-19
  • Kenyan shilling steady amid high liquidity in money markets
  • Ugandan shilling weaker due to strong demand for dollars from banks
  • South African labour unions picket Eskom office in wage dispute
  • Ugandan general arrested over police spokesman’s killing – state media
  • Soap maker PZ Cussons sees FY profit at lower end of previous view, hurt by Nigeria market
  • Egypt to increase gas production at Zohr to 1.75 bcf per day in August – minister
  • South Africa’s Sibanye confirms all five missing miners dead

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

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