#Africa #Markets | 3 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares scale new 7-mth highs; tight supply lifts oil
  • MSCI Asia ex-Japan up 0.8 pct
  • European futures show shares expected to rise
  • Oil touches highest level since November, nears $70 per barrel
  • Sterling ticks up as May seeks further Brexit delay

Oil Markets

  • Brent nears $70 as oil prices rise for 4th day
  • Brent rises to $69.87 before easing, WTI gains 0.4 pct
  • OPEC-led cuts, US sanctions on Iran, Venezuela support
  • API survey shows unexpected crude stocks rise
  • Brent up 0.5 pct at $69.73 per barrel (0554GMT)
  • WTI up 0.4 pct at $62.84 per barrel

Precious metals

  • Gold inches lower as equities hover near 7-mth peak
  • Spot gold down 0.1 pct at $1,291.65 per ounce (0106GMT)
  • US gold futures unchanged at $1,295.60 an ounce

Grains

  • Soybeans little changed after 2 days of gains on US-China trade hopes
  • Most active CBOT wheat futures unchanged at $4.64 per bushel (0029GMT)
  • Most active corn futures unchanged at $3.61-1/2 per bushel
  • Most active soy futures barely changed at $8.99-3/4 per bushel
  • Most active rice futures down 0.2 pct at $10.77 per hundredweight

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

  • South Africa PIC inquiry continues
  • Trial of suspended Nigeria chief justice Onnoghen continues
  • South Africa Standard Bank PMI for Mar-19 [act. 48.8, prev. 50.2]
  • Nigeria Stanbic IBTC PMI for Mar-19 [act. 53.6, prev. 53.3]
  • Ghana Bawumia-led economic mgt team townhall meeting

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

  • South Africa rand gains on hopes US-China trade war is easing
  • Algeria businessman Ali Haddad placed in custody – Ennahar TV
  • Ethiopia Airlines pilots intially used Boeing emergency procedures before crash – WSJ
  • Algeria leader Bouteflika ends 20-yr rule after mass protests
  • Nigeria tax chief expects to raise $2.45 bln from defaulters by end H1 2019
  • US calls on Burundi to rescind decisions against BBC and VOA
  • France says confident Algeria’s democratic transition can continue
  • Algerians celebrate departure of Bouteflika
  • Algeria army chief wants Bouteflika declared unfit for office – TV
  • Algeria army to declare important resolutions soon – Ennahar TV
  • Africa Crude – New Angola stream begins production, diffs strong
  • Egypt policeman sentenced to death for killing Christian father and son
  • Study points to new antibody approach to tackling ebola, other infections
  • Senegal president pledges action on environment during second term
  • Workers at South African tax agency end strike
  • Nigeria’s FCMB eyes debt sale to boost capital
  • Global debt edged up in 2018, debt ration little changed – IIF
  • Algeria protest leader vows to continue demonstrations despite Bouteflika decision
  • Uganda seeks again to redevelop defunct Kilembe copper mine
  • Egypt treasury bill yields seen falling further by end-2019 – economists
  • Shell sees rise in Nigeria oil spills in 2018
  • Moody’s says South Africa still rated investment grade
  • Kenya’s Safaricom loses market share for fifth straight quarter
  • Nigeria’s “proptech” boom driven by rising mobile phone use
  • Congo ebola outbreak spreading faster than ever – WHO
  • Uganda shilling little changed against the dollar amid limited appetite
  • Kenya shilling seen steady amid ample money market liquidity

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

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