#Africa #Markets | 19 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks slide to 4-mth low as Trump threatens more China tariffs; risk sentiment hurt
  • Spot gold up, 10-yr treasury yield lowest since June 1
  • Crude oil prices dip after overnight rally loses steam

Oil Markets

  • Oil falls on rising output, escalating China-US trade spat
  • US-China trade dispute threatens American oil exports
  • Brent crude futures down 0.6 pct at $74.90 per barrel (0241GMT)
  • US WTI crude futures down 0.5 pct at $65.55 a barrel

Precious metals

  • Gold prices gain as US-China trade spat stokes safe-haven buying
  • Spot gold up 0.5 pct at $1,283.62 an ounce (0336GMT)
  • US gold futures for August delivery up 0.5 pct at $1,286.10 per ounce

Grains

  • Soybeans hit over 2-yr low on weather, trade war concerns
  • Most active CBOT wheat futures unchanged at $4.90 per bushel (0054GMT)
  • Most active corn futures down 0.9 pct at $3.52-3/4 per bushel
  • Most active soybean futures down 3 pct at $8.99-3/4 per bushel
  • Most active rice futures unchanged at $12.75 per hundredweight

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

  • Botswana central bank to decide on interest rate [fcst. 5.0%, prev. 5.0%]

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

  • Libya’s coast guard recovers five bodies from migrant boat
  • Plane crashes in Madagascar, all five on board killed
  • Ethiopia appoints Dessie as new central bank governor
  • South African rand plunges to 6-mth low as EM selloff worsens, stocks down
  • Kenyan lawmaker says “pretty sure” move to repeal rate cap will be defeated
  • Ethiopia plans to split telecoms monopoly in two to spur competition
  • Nigeria power generation drops after ruptured gas pipe shuts six power stations
  • Africa Crude – Supply disruptions dampen trade in Nigerian crude
  • With eyes on election, Zimbabwe’s president queues for fried chicken
  • South Africa’s PPC full-year profit doubles, lifted by Zimbabwe
  • South Africa’s struggling arms firm Denel suspends CFO
  • South Africa’s information regulator seeks meeting with Liberty over cyber attack
  • At least eight Kenyan police killed by militants
  • CAR struggling to resume diamond exports, tax revenue lags
  • South African union open to inflation-linked pay deal at Eskom – source
  • Kenya’s Safaricom opposes planned tax increase on mobile cash transfers
  • Kenyan shilling firm on tightening liquidity
  • South Africa’s Liberty shares fall 5 pct after cyber attack
  • South Africa’s Capitec, Nedbank and PIC on shortlist to buy Mercantile Bank
  • South Africa’s NUM wants Eskom wage talks delayed to next week

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

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