#Africa #Markets | 27 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares hobbled by trade fears, oil extends gains
  • Oil sharply higher as US pressures allies on Iran crude
  • Asian markets hesitant amid trade uncertainty
  • China yuan skids to fresh 6-mth low, stocks soft
  • Yen firms as trade-sensitive currencies ease

Oil Markets

  • Oil rises on supply disruptions and as US tries to cut Iran from markets
  • US tells countries to cut Iran crude imports to zero
  • Canada supply disruption, Libya uncertainty also push up crude
  • Saudi tries to counter disruptions with 1 mbpd output rise
  • Pipeline constraints to lock in rising US output – analysts
  • Brent crude futures up 0.4 pct at $76.60 per barrel (0111GMT)
  • US WTI crude futures up 0.3 pct at $70.79 per barrel

Precious metals

  • Gold prices hover near 6-mth low as dollar firms
  • Spot gold down 0.1 pct at $1,257.81 an ounce (0045GMT)
  • US gold futures for August delivery nearly unchanged at $1,259.70 per ounce


  • Soybean prices extend gains into second session
  • Most active CBOT wheat futures up 0.3 pct at $4.84-1/2 per bushel (0130GMT)
  • Most active corn futures up 0.1 pct at $3.52-3/4 per bushel
  • Most active soybean futures up 0.6 pct at $8.72-3/4 per bushel
  • Most active rice futures unchanged at $12.51 per hundredweight

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

  • 31st AU summit continues in Mauritania (to 3 July)
  • High-level Eritrean delegation in Ethiopia to remain in focus

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

  • Moroccan court sentences Rif protest leader to 20 years in jail
  • Libya’s Hariga, Zueitina oil ports seen running normally despite power tussle
  • Gabon oil workers threaten 15-day strike at Total facilities
  • Algeria’s Bouteflika sacks national police chief
  • Eritrea and Ethiopia “open door of peace” after first talks in 20 years
  • Ethiopian Airlines will restart flights to Eritrea soon – Ethiopian PM
  • UN says Malian forces executed 12 civilians at a market
  • Malawians with albinism to fight elections in bid to stop killings
  • Danone’s Morocco dairy firm loses 50 pct of milk market – CEO
  • Zambian parliament recommends private investment in state firms
  • Death sentence quashed on Sudanese teen who killed husband – lawyer
  • South Africa starts tax service inquiry after revenue shortfall
  • South Africa’s rand, stocks falter as trade tensions rise
  • Africa Crude – Flurry of tenders restricts spot trade
  • Zimbabwe parties seek to draw line on violence with peace pledge
  • Bangladeshi peacekeeper killed in South Sudan attack
  • Vodafone to list Ghana unit on local stock market after debt restructuring
  • Warring South Sudan leaders reach agreement on ‘some points’ – Sudanese minister
  • Old Mutual returns to African roots with Johannesburg listing
  • 8 protesters injured at Glencores’s South African smelter
  • Gabon’s economy to recover in 2018, needs progress on reforms, IMF says
  • Offshore investors net sellers of South African bonds, stocks
  • Daimler to invest $700 mln to expand South African plant
  • Libya’s internationally recognised govt says oil port decision will deepen division
  • Burundi parliament passes 2018/19 govt budget
  • Libya oil terminals Hariga, Zueitina appear to be operating as usual – sources
  • All sides committed war crimes in Congo’s Kasai region – UN
  • Hit by extreme weather, Zimbabwe rolls out triple climate policy
  • Kenyan shilling holds steady against the dollar
  • Land, mining uncertainty threatens South Africa growth – Moody’s
  • Uganda shilling weakens towards psychologically key level
  • South Africa’s Long4Life to buy fashion retailer Rage for $287 mln
  • Migrants rescued by Danish cargo ship land in Sicily
  • Eritrean team to Addis Ababa includes presidential aide, foreign minister – state broadcaster
  • Old Mutual wraps up 4-way break-up with Johannesburg listing
  • South Africa’s Omnia Holdings FY profit rises 12 pct

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

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