#Africa #Markets | 22 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares flirt with 6-mth lows as signs of tariff effects appear
  • Daimler’s profit warning among first signs of tariff damage
  • Philly Fed survey falls unexpectedly
  • Emerging market shares at 6-mth low
  • Oil choppy ahead of crucial OPEC meeting

Oil Markets

  • Oil prices climb on uncertainty ahead of OPEC meeting
  • OPEC, Russia meet in Vienna on Friday to discuss output
  • Saudi Arabia, Russia want to raise supply
  • Escalating trade tensions keep market on edge
  • Brent crude oil futures up 1.4 pct at $74.04 per barrel (0308GMT)
  • US WTI crude futures up 1.5 pct at $66.49 per barrel

Precious metals

  • Gold prices edge up after sliding to 6-mth low
  • Spot gold up 0.1 pct at $1,268.24 per ounce (0057GMT)
  • US gold futures for August delivery nearly unchanged at $1,270.20 per ounce


  • Soybeans set for 4th week of losses, hit by US-China trade tensions
  • Most active CBOT wheat futures down 0.1 pct at $4.95 per bushel (0038GMT)
  • Most active corn futures up 0.4 pct at $3.58-1/2 per bushel
  • Most active soybean futures up 0.5 pct at $8.84-3/4 per bushel
  • Most active rice futures unchanged at $12.70 per hundredweight

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

  • Kenya’s Kenyatta to address devolution summit today
  • All eyes on World Cup soccer match between Nigeria and Iceland

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

  • US welcomes Ethiopia-Eritrea peace moves – State Dept
  • US State Department imposes visa ban on several DRC officials
  • Plastic ban raises hopes for Kenya’s sisal farmers
  • More time needed to achieve peace, South Sudan rebels say
  • Survivors report 220 migrants drowned off Libya in recent days – UNHCR
  • US’s Kushner meets with Egypt, Qatar leaders about Mideast plan
  • East Libyan forces reclaim key oil ports
  • Algerian prime minister urges Bouteflika to seek fifth term
  • Egypt taking risks with sharp subsidy cuts, economists say
  • Africa Crude – Supply of Forcados to rise; Angolan slow
  • Nokia seller HMD looks to smart and feature phones to grow its African business
  • South Africa coal terminal boosts productivity with $98 million upgrade
  • South African rand recovers slightly on technical factors, stocks falter
  • World Bank approves $455 million loan for Tanzania power projects
  • UN rights experts urge Egypt to free couple unlawfully detained
  • South Africa’s Imperial to hive off auto dealership arm
  • South Africa health minister backs medical insurance changes
  • Zimbabwe regulator cuts mobile data tariffs by 60 pct
  • UAE regulator asks listed companies to declare exposure to Abraaj
  • Libyan coastguard picks up 301 migrants headed for Europe
  • Zambia aiming for power prices that reflect costs by end 2018
  • Former CEO of Kenya’s Nakumatt faces investigation over loss of funds
  • Nigeria extends crude for oil products contracts until end 2018 – NNPC
  • Kenya finance minister reassures central bank on new regulator
  • Ugandan shilling weakens to all-time low of 3,890/3,900 to dollar – traders
  • Talks before main OPEC meeting to debate 1 mbpd output hike – sources
  • South Africa’s Q1 current account deficit widens to 4.8 pct of GDP, weakening rand
  • Kenya financial markets conduct bill does not infringe on central bank – finmin
  • Kenyan shilling firm, withstands surge in dollar strength
  • Driven away by conflict, thousands of Ethiopians stranded without a home
  • Sanctions-hit Rusal restarts alumina refinery in Guinea

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

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