#Africa #Markets | 5 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares hug weekly gains, wait on US jobs test
  • Asia stocks ex-Japan camp near highest since August
  • Nikkei holds 2.8 pct gain for the week
  • Yen eases as Sino-US trade talks slowly progress

Oil Markets

  • Oil prices dip amid economic concerns, but on track for weekly gain
  • Oil set for weekly gain on OPEC supply cuts, US sanctions
  • But economic concerns weigh on demand outlook
  • Brent down 15 cents at $69.25 a barrel (0455GMT)
  • WTI down 1 cent at $62.09

Precious metals

  • Gold steadies above 10-wk low; focus on US jobs data
  • Spot gold flat at $1,291.71 per ounce (0104GMT)
  • US gold futures up 0.1 pct at $1,295.40 an ounce

Grains

  • Soybeans set for biggest weekly gain since early Jan on US-China trade hopes
  • Most active CBOT wheat futures down 0.9 pct at $4.66-3/4 per bushel (0113GMT)
  • Most active corn futures down 0.3 pct at $3.64-1/4 per bushel
  • Most active soy futures down 0.4 pct at $9.02-3/4 per bushel
  • Most active rice futures down 0.2 pct at $10.53 per hundredweight

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

  • Nigeria’s Buhari in Jordan for MENA World Economic Forum
  • South Africa state capture inquiry resumes
  • Kenya by-elections in Embakasi South, Ugenya and Lelan Ward
  • South Africa gross FX reserves for Mar-19 [act. $49.7B, prev. $50.8B]

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 set for 3 pct weekly gain after Moody’s review delay
  • Ethiopia crash raises questions over handling of faults on Boeing 737 MAX
  • South Africa’s net foreign reserves fall to $43.3 bln in March
  • Eastern Libya commander orders forces to move on Tripoli
  • Ethiopia inquiry shows Boeing MAX hurtling uncontrolled to disaster
  • Pentagon to do new ‘narrowly-scooped’ review of deadly 2017 Niger ambush
  • Forces allied to eastern Libya military take over checkpoint west of Tripoli – resident
  • Islamic State says it killed 18 soldiers in west Africa
  • East Libya forces say 2 soldiers injured in clashes during Tripoli advance
  • Car bomb explodes near police academy in Somali capital – police
  • Islamic State says killed 13 Nigerian soldiers in attacks
  • US, France, others urge de-escalation of tensions in Libya
  • Riff Raff the South African elephant dodges death sentence
  • Armed groups from Libya’s Misrata are moving to defend Tripoli – residents
  • Nigeria’s Oando sells stake in gas company for $41.5 mln to cut debt
  • Eastern Libya forces secure Gharyan, arrive in al-Heira area – spokesman
  • UN’s Guterres says there is no military solution to Libya’s crisis
  • Nigeria to issue first 30-yr naira bond
  • Egypt offers euro-denominated bonds on London stock exchange – bank
  • Oando sells 25 pct in Nigeria gas company to private equity firm Helios
  • Kenya forecasts 6.3 pct economic growth in 2019
  • Egypt set to raise 2 bln euro with dual-tranche bond – document
  • Congo arrests rebel leader wanted for mass rape
  • Uganda and Tanzania currencies seen falling; next week
  • Vodacom unit alleged to have caused $4.76 mln loss to Tanzania
  • London court orders Djibouti to pay $385 mln for exclusivity breach – UAE news agency
  • Uganda shilling weakens on banks’ demand
  • Ethiopia to investigate crashed plane problems for up to a year
  • Fire disrupts terminal at Kenya’s main airport in Nairobi
  • Ethiopia Airlines says plane repeatedly nose-dived before crash
  • Uganda says kidnapped American tourist did not take armed guard
  • UN chief concerned by military movement in Libya, sees risk of confrontation
  • South African rand weaker as govt mulls more Eskom support
  • Kenya shilling edges up against the dollar

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

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