#Africa #Markets | 1 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks rally as China’s factory bounce lifts confidence
  • MSCI Asia-Pacific index up 1 pct, Nikkei up more than 2 pct
  • Spreadbetters expect European stocks to open higher
  • Upbeat China PMI data improves investor risk sentiment
  • Dollar rises as Brexit saga takes toll on pound

Oil Markets

  • Oil prices rise on supply worries, extend strong Q1 gains
  • Brent up 1 pct at $68.22 per barrel (0606GMT)
  • WTI up 0.7 pct at $60.57 a barrel

Precious metals

  • Gold slips as positive China data boosts risk assets
  • Gold specs raise net long positions for 2nd week
  • Global gold demand will rise to 4-yr high in 2019 – Metals Focus
  • Spot gold down 0.2 pct at $1,290.01 per ounce (0750GMT)
  • US gold futures down 0.3 pct at $1,294.80 an ounce

Grains

  • Corn ticks up after deep losses; abundant supplies cap gains
  • Most active CBOT wheat futures up 0.1 pct at $4.58-1/4 per bushel (0124GMT)
  • Most active corn futures up 0.6 pct at $3.58-1/2 per bushel
  • Most active soy futures up 0.3 pct at $8.87-1/4 per bushel
  • Most active rice futures up about 0.1 pct at $10.86 per hundredweight

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

  • Ghana interest rate decision [fcst. 15.0%, prev. 16.0%]
  • 4th annual meeting of NDB in Cape Town, South Africa
  • Senegal’s Sall inauguration; Gambia’s Barrow attending
  • Trial of Nigeria’s suspended chief justice Onnoghen continues
  • South Africa state capture and PIC inquries resume
  • South Africa total new vehicle sales for Mar-19 [prev. 43.251K]

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

  • South African rand firms after Moody’s delays rating review
  • Algeria’s president might resign this week – private TV channels
  • Sudan police disperse ‘illegal gatherings’ – state news agency
  • Algeria’s Bouteflika names new caretaker govt
  • Algeria’s presidency relieves many ministers of their duties – Ennahar TV
  • Egypt’s M2 money supply growth slows to 11.55 pct y/y in Feb – cbank
  • Egypt holds price of 95-octane petrol through Q2 – ministry
  • Athletics – New Diamond League won’t disadvantage African athletes – IAAF
  • Tunisia leader says Arab Summit should send message on Palestinian state
  • Algeria businessman with ties to Bouteflika arrested at border
  • South Africa fuel prices to jump almost 9 pct in Apr
  • Libya’s rival leaders could overcome army control dispute – UN sec. gen
  • Ebola treatment centre in Congo reopens after attack
  • Algeria army repeats call to declare president unfit for office
  • Libya holds municipal elections in first vote for five years
  • South Africa’s Denel may wind down manufacturing for Airbus A400M
  • Tunisia says UN official arrested in anti-terrorism probe – agency
  • Egypt’s Sisi raises minimum wage to 2,000 EGP from 1,200, to help assuage economic hardships
  • Egypt shuts 3 ports due to bad weather
  • 30 men sentenced for Egypt church attack plot
  • Teenage African migrants accused of hijacking tanker after sea rescue
  • Burundi bans BBC and suspends Voice of America, activists cry foul
  • Tunisia delays presidential elections by 1 wk to Nov 17
  • Cholera cases jump to 138 in Mozambique’s Beira after cyclone
  • Moody’s delays publishing South Africa ratings review
  • Tunisia says it will coordinate Arab response to US move on Golan
  • At least 3 dead in gunfight in Comoros after opposition moves to unseat president
  • Libya’s El Sharara oil field output hit 280k barrels on Thursday – engineer
  • Hundreds of thousands march against Algeria’s Bouteflika
  • Congo registers 15 new ebola cases in one day
  • Algeria authorities deny Algiers protest drew 1 mln demonstrators
  • Anti-stall system active before Ethiopian 737 MAX crash – sources
  • Mali arrests five suspects in killing of 157 villagers
  • Gambia ex-president Jammeh stole at least $362 mln – govt
  • Police fire rubber bullets at protesters in Algiers, Algeria
  • Botswana economy grows at faster pace in fourth quarter of 2018
  • US Trump to host Egypt’s Sisi on April 9 – White House
  • Algeria police use water cannons against demonstrators
  • Tunisia arrests UN official working on Libya arms embargo – UN
  • Hundreds of thousands of Algerians call for Bouteflika’s resignation
  • Kenya orders closure of Dadaab refugee camp this year, according to leaked UN document
  • Congo president allows senators to take office, ending feud with predecessor’s camp
  • Kingmaker once more, Algeria’s army confronts demand for real change
  • South Africa records 4 bln rand trade balance surplus in February
  • Kenya inflation rises to 4.35 pct y/y in March
  • Emerging market debt sales shrink as window for new issues threatens to shut
  • Egypt releases prominent activist after five years in prison
  • Zimbabwe has up to 7 months supply of grain, after drought damage – official
  • Kenya shilling steady versus the dollar, horticulture inflows help
  • Homicide trial of Zuma’s son over 2014 fatal car crash will go ahead – court
  • South Africa Feb credit demand growth slows to 6.03 pct y/y
  • South Africa on edge before Moody’s rating review amid power crisis

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

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