#Africa #Markets | 26 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks slide on intensifying trade row, dollar wobbles
  • MSCI Asia-Pacific index down 0.35 pct, Nikkei sheds 0.2 pct
  • Tech shares retreat broadly on latest US-China row
  • Dollar sags as US yields decline amid risk aversion
  • Libyan export woes lift oil after previous day’s big fall

Oil Markets

  • Oil prices edge up on Libya worries, but OPEC supply rise drags
  • Libyan uncertainty comes after OPEC announces supply increase
  • Analysts see tight market for rest of 2018, early 2019
  • But escalating trade disputes could erode demand
  • Brent crude futures up 0.1 pct at $74.81 per barrel (0311GMT)
  • US WTI crude futures up 0.2 pct at $68.24 per barrel

Precious metals

  • Gold inches up as dollar eases, trade dispute intensifies
  • Spot gold up 0.1 pct at $1,266.26 an ounce (0048GMT)
  • US gold futures for August delivery down 0.1 pct at $1,268 per ounce

Grains

  • Soybeans, corn little changed after steep fall; trade tensions weigh
  • Most active CBOT wheat futures up 0.2 pct at $4.91-1/4 per bushel (0048GMT
  • Most active corn futures unchanged at $3.50-1/2 per bushel
  • Most active soybean futures down 0.1 pct at $8.74 per bushel
  • Most active rice futures unchanged at $12.47 per hundredweight

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

  • Kenya’s Kenyatta to host Uganda’s Museveni and Rwanda’s Kagame for 14th Northern Corridor Integration Project (NCIP) summit
  • 31st African Union Summit continues in Mauritania (till 3 July)
  • Nigeria to play against Argentina in key World Cup match in Russia today
  • South Africa’s parliament to start land expropriation consultations today

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

  • East Libyan forces say oil ports handed to eastern-based NOC
  • Libya’s Tripoli-based NOC rejects LNA bid to control eastern oil exports
  • Italy proposes African migrant centres to halt immigrant tide
  • Nigerian herders, farmers conflict highlights squeeze on arable land
  • Mali administrators’s strike threatens July presidential vote
  • Twenty people in court in Ethiopia following grenade attack
  • Kenyans face attempted murder charges over mercury-laced fertiliser
  • Machete-wielding attackers will be neutralised, says Mozambican leader
  • Congo’s Katumbi open to opposition coalition that could include Bemba
  • Algeria parliament backs higher customs duties in place of ineffective import ban
  • Africa Crude – Key Nigerian programmes yet to emerge
  • US high court to hear Sudan appeal on damages in 2000 USS Cole bombing
  • South Africa’s rand, stocks weaker as US-China trade war fears weigh
  • Two die after blast at Zimbabwe presidential rally – state newspaper
  • South Sudan rivals say hope for peace at meet in Khartoum
  • After 16 killed in Mali, France says govt must act firmly
  • Kenyan standards officials face attempted murder charge over fertiliser
  • Nigeria’s Buhari calls for calm as 86 die in farmer, herder clashes
  • South African rate hikes seen unlikely this year despite weaker rand
  • One person dies after explosion at Zimbabwe president’s rally – state radio
  • Eritrean delegation to visit Addis Ababa after Ethiopian olive branch
  • Uganda shilling little-changed after central bank intervention
  • African Petroleum seeks arbitration as Senegal talks break down
  • Libyan coast guard picks up almost 1,000 migrants in one day

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

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