#Africa #Markets | 2 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Manufacturing rebound pushes Asian shares to 7-mth highs
  • Australia shares add 0.4 pct, Japan’s Nikkei ends flat
  • European shares expected to rise at open
  • Bitcoin surges more than 22 pct, hits 2019 high
  • Investors cheer US March manufacturing activity improvement
  • US retail sales post unexpected drop in Feb

Oil Markets

  • Oil rises to 5-mth high on firmer China data, prospect of fresh supply curbs
  • Brent rises to highest since mid-Nov
  • WTI rises above $62 for 1st time since early Nov
  • Brent up 0.2 pct at $69.16 per barrel (0636GMT)
  • WTI up 0.2 pct at $61.73 a barrel

Precious metals

  • Gold hits 3-wk low as easing growth worries lift equities
  • SPDR gold holdings post biggest fall in a month on Monday
  • Spot gold down 0.1 pct at $1,286.41 per ounce (0732GMT)
  • US gold futures down 0.2 pct to $1,291.40 an ounce

Grains

  • Corn gains for 2nd day on US planting delays; soybeans rise
  • Most active CBOT wheat futures up 0.2 pct at $4.63-3/4 per bushel (0112GMT)
  • Most active corn futures up 0.2 pct at $3.62-1/2 per bushel
  • Most active soy futures up 0.1 pct at $8.96-1/2 per bushel
  • Most active rice futures unchanged at $10.86 per hundredweight

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

  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues
  • South Africa’s Ramaphosa in Equatorial Guinea on working visit
  • Collation of election results in Nigeria’s Rivers state to resume; contentious hitherto
  • Final day of 4th annual NDB meeting in Cape Town, South Africa
  • Kenya digital ID (“Huduma Namba”) rollout today; Kenyatta to launch it in Machakos
  • Botswana’s Masisi visits Zambia

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

  • South Africa’s rand softer as Moody’s relief rally fades
  • South Africa’s Steinhoff investors to extend suspension of legal battle
  • French oil major Total launches full-field production on Angola’s Kaombo
  • Algeria’s Bouteflika to resign before mandate ends April 28 – state media
  • South Sudan targets steep oil output boost by June
  • Algeria unrest a potential threat to Cuban coffers
  • Congo ebola outbreak spreading faster than ever – WHO
  • South Africa to get almost $1 bln in loans from BRICS bank
  • South Sudan targets 70,000 bpd oil production boost by June – minister
  • Egypt current account deficit widens, tourism picks up, FDI falls
  • US Supreme Court turns away families of dead USS Cole sailors in Sudan suit
  • South Africa tax revenues fell 15 bln rand short of 2018/19 target
  • South Africa sets 2019/20 tax revenue target at 1.422 trillion rand
  • Morocco’s BMCE Bank reports 10 pct drop in 2018 profit, plans capital increase
  • No Ethiopia plane crash report on Monday, maybe this week – source
  • Hunger stalks Mozambique after deadly cyclone destroys farmland
  • Egypt current account deficit widens to $3.85 bln in H1 18/19 – cbank
  • 7 Algeria businessmen investigated for corruption – Ennahar TV
  • Ethiopia crash could be largest non-war aviation reinsurance claim – Willis Re
  • Uganda central bank holds its key lending rate at 10 pct
  • Kenya shilling holds steady as debt inflows offer support
  • Zimbabwe power utility seeks 30 pct tariff increase – report
  • South Africa’s Absa PMI dips further on weaker demand, power cuts

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

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