#Africa #Markets | 18 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares fall as Sino-US trade spat intensifies
  • US stock futures down 0.4 pct
  • China markets on holiday
  • Oil pressured by output increase expectations, trade war

Oil Markets

  • Oil prices fall on expectation Russia, Saudi Arabia will raise output
  • Brent crude futures down 0.5 pct at $73.05 per barrel (0036GMT)
  • US WTI crude futures down 1.3 pct at $64.24 a barrel

Precious metals

  • Gold prices inch up on trade war concerns
  • Spot gold edged up 0.2 pct to $1,281.41 per ounce (0045GMT)
  • US gold futures for August delivery up 0.4 pct at $1,284.10 per ounce

Grains

  • Soybeans edge higher, but gains capped by US-China trade concerns
  • Most active CBOT wheat futures down 0.7 pct at $4.96 per bushel (0145GMT)
  • Most active corn futures down 0.4 pct at $3.60 per bushel
  • Most active soybean futures up 0.3 pct at $9.08 per bushel
  • Most active rice futures up 0.2 pct at $12.38 per hundredweight

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

  • Group of Egyptian lawmakers slam Sisi’s fiscal reforms
  • Blasts kill at least 20 in northeast Nigeria – police
  • South Africa’s Liberty Holdings suffers cyber attack
  • Term of South Africa’s acting tax chief extended – finance ministry
  • South African lobby group opposes parts of new draft mining charter
  • Eskom says full recovery of South Africa power system to take 10 days
  • Aquarius migrant rescue ship arrives in Spain
  • Egypt hikes fuel prices by 10 to 20 pct in IMF-backed austerity drive
  • Libya’s NOC calls on armed faction leader to withdraw from oil crescent
  • Sudan central bank governor dies of heart attack – family
  • Somalia, Ethiopia to jointly invest in four seaports on the Red Sea
  • South African power outages enter third day amid protests over wages
  • Egypt raising fuel prices by up to 50 pct, energy ministry says
  • South Africa proposes 30 pct black ownership for mining firms within 5 years
  • UAE to give Ethiopia $3 billion in aid and investments
  • Africa Crude – Nigerian weak, Angolan programme due
  • Egypt’s Sisi pardons 3,477 prisoners ahead of Eid holiday
  • Fitch affirms South African rating but doubtful on Ramaphosa boost
  • Congo cancels passport of exiled opposition leader
  • Kenya’s “budget for the rich” pushes poor to the brink – campaigners
  • South Africa to publish draft mining charter on Friday
  • Orange suspends new Ivory Coast network cable installation after vandalism
  • Ethiopia says UAE to deposit $1 billion in central bank to ease foreign currency shortages
  • Zambian health minister declares cholera epidemic over
  • Steinhoff Africa Retail plans to change name to Pepkor
  • Morocco’s OCP to acquire 20 pct stake in Spain’s Fertinagro Biotech
  • Nigeria’s Buhari will sign off 2018 budget on Tuesday, minister says
  • South African court declares Eskom strikes unlawful
  • Tanzania proposes tax amnesty, cuts corporate income tax to boost investment
  • South Sudan’s cabinet passes $584 mln budget for 2018-19
  • Nigeria urged to fix legal mess around female genital mutilation

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

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