#Africa #Markets | 25 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slip on trade worries, oil gives up some gains
  • Asian shares ease, US stock futures down 0.5 pct
  • China, auto shares take the brunt of Trump’s trade war
  • Oil prices give up gains as OPEC agrees on output hike
  • Turkish lira rises more than 1 pct after Erdogan’s victory

Oil Markets

  • Brent oil prices drop by 2 pct as traders expect output rise after OPEC deal
  • Brent crude futures down 2.2 pct at $73.90 per barrel (0035GMT)
  • US WTI crude futures down 0.3 pct at $68.36 a barrel

Precious metals

  • Gold prices climb as dollar weakens on EU-US trade woes
  • Spot gold up 0.3 pct at $1,271.79 an ounce (0059GMT)
  • US gold futures for August delivery up 0.2 pct at $1,273.60 per ounce

Grains

  • Soybeans fall 1 pct as US-China trade dispute worries market
  • Most active CBOT wheat futures down 1.7 pct at $4.95-1/2 per bushel (0054GMT)
  • Most active corn futures down 0.9 pct at $3.54 per bushel
  • Most active soybean futures down 1 pct at $8.86 per bushel
  • Most active rice futures down 0.2 pct at $12.57 per hundredweight

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

  • 31st African Union Summit starts today (25 Jun-3 Jul)
  • South Africa’s Ramaphosa to deliver keynote at ANC manifesto consultative workshop today

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

  • Nigeria imposes curfew as 70 die in escalating communal clashes
  • Second person dead, 30 arrested, after Saturday’s grenade attack at Ethiopia prime minister’s rally
  • At least 16 dead in central Mali ethnic clashes – govt
  • Police search for motive after 49 hurt in Zimbabwe election blast
  • Zimbabwe vice president says Saturday’s explosion was “act of terrorism”
  • Egypt to extend state of emergency for 3 months
  • Egyptian Electricity Holding signs $900 million syndicated loan – sources
  • Zimbabwe police says 49 people injured in Saturday’s blast at president’s rally
  • Three kidnapped Turkish engineers released in southern Libya
  • Senior Ethiopia police official arrested over security shortcomings – state media
  • Zimbabwe vice president sustained minor injuries in stadium blast – source
  • Libya recovers five bodies, picks up 185 migrants
  • Tanzania raises $20 mln from maiden wireless spectrum auction
  • Kenya authorities arrest standards bureau head over fertiliser imports
  • Eritrea condemns attack at Ethiopia rally – Eritrean envoy to Japan
  • Tunisia raises fuel prices, third hike this year
  • Ghana’s 91-day bill yield dips to 13.32 pct
  • Ivory Coast aims to grind 1 million tonnes of cocoa beans by 2022
  • Zambia power firm CEC proposes electricity tariff migration plan
  • Congo Republic beomes OPEC oil cartel’s newest member
  • US welcomes Ethiopia-Eritrea peace moves – White House
  • South Africa govt eyes staff cuts, hiring caps after wage deal
  • South Africa’s Naspers annual profit up 72 pct, helped by Tencent stake
  • Morocco’s CPI slows to 2.6 pct y/y in May
  • Tunisia arrests people smuggler after 87 drowned
  • Kenya Airways to hedge aviation fuel to counter volatility
  • South Africa’s Steinhoff sells Austria properties to Benko’s Signa in $570 mln deal
  • Sudan foreign minister to discuss new oil recovery plan with South Sudan
  • South Sudan rules out rebel leader Machar rejoining govt
  • Libya’s NOC confirms LNA control of oil ports, hopes for quick restart
  • Zambia shortlists 10 firms for 100MW solar projects
  • Congo opposition leader Bemba expected home in July
  • Uganda central bank sells dollars in the interbank forex market to shore up the weakening shilling – traders
  • Restructuring Eskom top of South Africa agenda – finmin Nene
  • Ivory Coast’s ICP to ramp up cocoa grinding at two plants
  • South Sudan says Kiir will attend talks in Khartoum with Machar next week
  • Kenya Airways says oil price volatility biggest immediate challenge
  • Seychelles parliament blocks planned Indian naval base on remote island
  • Kenyan shilling firm against the dollar, tight liquidity helps
  • Uganda police arrest 15 refugees after four killed in fight during World Cup game
  • US State Department imposes visa ban on several DRCongo officials

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

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