#Africa #Markets | 29 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares rally on China rebound; trade worries linger
  • MSCI Asia-Pacific index ex-Japan up 1 pct, Australia shares flat
  • Japan’s Nikkei down 0.3 pct, South Korea’s KOSPI down slightly

Oil Markets

  • Oil prices slip on trade frictions, but crude market remains tight
  • Economic outlook dims global trade tensions
  • But oil markets remain tight on outages, Iran sanctions
  • US WTI crude futures down 0.4 pct at $73.19 a barrel (0337GMT)
  • Brent crude futures down 0.2 pct at $77.73 a barrel

Precious metals

  • Gold nudges up but on track for worst month since Nov. 2016
  • Spot gold up 0.1 pct at $1,248.64 an ounce (0053GMT)
  • US gold futures down 0.1 pct at $1,249.90 an ounce

Grains

  • Soybeans edge lower, set to finish the month down 13 pct
  • Most active CBOT wheat futures up 0.3 pct at $4.85 per bushel (0048GMT)
  • Most active wheat futures up 0.1 pct at $3.45-1/2 per bushel
  • Most active soybean futures up 0.1 pct at $8.84-1/2 per bushel
  • Most active rice futures up 1.3 pct at $11.37 per hundredweight

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

  • South Africa PSCE data for May-18 due [fcst. 4.4% yy, prev. 5.1%]
  • South Africa M3 data for May-18 due [fcst. 6.1% yy, prev. 6.4%]
  • Uganda inflation data for Jun-18 due [fcst. 2.9% yy, prev. 1.7%]
  • Kenya inflation data for Jun-18 due [fcst. 6.0% yy, prev. 4.0%]
  • Zambia inflation data for Jun-18 due [fcst. 7.6% yy, prev. 7.8%]
  • AU summit continues in Mauritania, heads of government meet 1-2 July
  • South Africa’s Ramaphosa travels to Botswana for 6th Southern African Customs Union meeting

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 journalist to 3 years in jail
  • Haftar’s forces say they have captured Libyan city of Dema
  • Ghana’s president fires electoral commission head, two deputies
  • Nigerian oil tanker fire kills nine in commercial capital Lagos
  • World Bank approves $500 mln loan for Tunisia – state news agency
  • Congo completes surveillance of Ebola contacts, no new cases
  • Egypt central bank keeps main interest rates unchanged – statement
  • Ghana sells 237.8 mln cedis ($500mln) of 3-yr local bonds at 17.5 pct yield
  • Zambia won’t fail to pay debt, finance minister says
  • Aid workers urge security, safe corridors as South Sudan signs peace deal
  • South Africa’s rand steadies after slip to new low, stocks led higher by banks
  • Africa Crude – Buyers and sellers face off as global outages bite
  • World Bank approves $2.1 bln loans for Nigerian projects
  • Weekahead Africa FX – Kenyan and Ugandan currencies expected to be stable
  • Kenya’s president says no one immune from prosecution in graft crackdown
  • Egypt’s Sisi swears in top aide as intelligence chief
  • South Africa’s Eskom raises wage offer to unions – NUMSA
  • AngloGold says no production impact from Guinea power protests
  • Egypt’s M2 money supply up 19.31 pct y/y in May – c.bank
  • Kenya says four police face arrest over death of British aristocrat’s son
  • Nine people dead in violence in western Ethiopian region
  • Class action lawsuit filed against South Africa’s Sibanye-Stillwater following fatalities
  • Kenya says banks to face charges for handling lost youth agency funds
  • South Africa’s Exxaro expects H1 thermal coal output to rise 1 pct
  • Kenyan shilling under pressure, tight liquidity helping
  • Sibanye’s Lonmin takeover cleared by UK antitrust body
  • Nigeria LNG to restart 5th unit in July after shutdown – company
  • At least 15 people dead in Nairobi market fire – NTV
  • Steinhoff seeks further debt standstill from creditors
  • Malawi urged to protect people with albinism from attack

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

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