#Africa #Markets | 28 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares flirt with 9-mth low on mounting trade war fears
  • US oil prices hit 3 ½-year high as supply seen disrupted

Oil Markets

  • US oil dips as markets well supplied despite strong demand, outages
  • Markets well supplied thanks to high output from top-3 producers
  • But disruptions, record demand leave little spare capacity
  • US WTI crude futures down 0.3 pct at $72.55 a barrel (0114GMT)
  • Brent crude futures barely changed at $77.63 per barrel

Precious metals

  • Gold edges higher, but lingers near 6-mth trough
  • Spot gold up 0.1 pct at $1,253.20 per ounce (0127GMT)
  • US gold futures down 0.1 pct at $1,254.60 an ounce


  • Wheat edges lower as ample global supplies weigh
  • Most active CBOT wheat futures down 0.2 pct at $4.87-1/2 per bushel (0147GMT)
  • Most active corn futures down 0.2 pct at $3.51-3/4 per bushel
  • Most active soybean futures down 0.3 pct at $8.86-3/4 per bushel
  • Most active rice futures down 0.2 pct at $11.46 per hundredweight

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

  • South Africa producer inflation data for May 2018 expected [fcst. 4.8% yy, prev. 4.4%]
  • South Africa’s Ramaphosa to host WEF roundtable today
  • 33rd session of AU Executive Council to hold in Mauritania ahead of heads of government meeting on 1-2 July
  • Senegal in key World Cup match today

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

  • Malawi urged to protect people with albinism from attack
  • More than 200 people killed in weekend violence in central Nigeria
  • East Libyan officials say oil money will go to their central bank
  • South Sudan rivals sign peace agreement in Khartoum
  • UN calls for return of Libyan oil resources to recognised authorities
  • AngloGold Ashanti’s Guinea mine hit by violent power cuts protests
  • Moroccan court jails Rif protest leader for 20 years
  • Sonatrach sees Exxon pact by year’s end, boosts output after OPEC deal
  • Naspers puts Brazil e-commerce unit Buscape on the block – sources
  • Guinea says IMF board approves $24 million credit facility
  • Anadarko expects final decision on Mozambique LNG export project in 2019
  • Zimbabwe president tells BBC suspects political faction was behind rally blast
  • US, allies call on Libya factions to withdraw from oil facilities
  • Kenya relocates endangered black rhinos to more secure habitat
  • Ethiopia to begin extracting crude oil in its southeast
  • Africa Crude – Nigerian cargoes get more US competition
  • In hunt for clean jet fuel, South Africa swaps tobacco for weeds
  • South Africa’s rand weakens as dollar rises, stocks recover
  • South Africa’s Long4Life to buy fashion retailer Rage for $287 mln
  • Pan-African firm Oranto Petroleum to explore for oil in Zambia
  • More parents trade girls for cows as war and climate change hit east Africa
  • Kenya tries to tackle illicit goods to boost manufacturers
  • Zambia aims to eradicate malaria by 2021 – health minister
  • Steinhoff seeks further debt standstill from creditors
  • Nigeria eyes $2.8 bln debt from offshore sources – debt office
  • Ethiopia says forces behind grenade attack could strike again
  • IMF board to consider bailout for Congo Republic on July 6
  • Residence of Libyan deputy PM attacked amid oil port stand-off
  • Legal fate of Sudanese teen fuels debate over child marriage
  • Kenya’s ARM Cement counts on shareholder loans for revival
  • South African opposition broke law when it sacked mayor – court ruling
  • Algeria’s Boutelflika sacks national police chief
  • Uganda’s central bank sells dollars to banks after shilling weakens
  • African nations should work together to stop drug flow – UN
  • Offshore investors in record sale of South African bonds
  • Zimbabwe president blames dissident ZANU-PF faction for rally blast – BBC
  • South Africa’s Telkom says CFO to move to investment role
  • Ghana issues environmental permits for AngloGold’s Obuasi mine
  • Volkswagen opens Rwanda’s first car plant

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.