#Africa #Markets | 8 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares off 7-mth peak, mood turns cautious
  • China blue-chips fade from 1-yr peak, Nikkei highest since Dec
  • Beijing signals more stimulus ahead
  • Eyes on Fed minutes, latest Brexit deadline
  • Oil prices reach highs for the year so far

Oil Markets

  • Oil climbs to 5-mth high amid OPEC cuts, US sanctions and Libya fighting
  • OPEC, allies have been witholding supply since start of 2019
  • US sanctions against Iran, Venezuela also push up crude
  • Strong US jobs data helping to support markets
  • Analysts still warn of global trade slowdown
  • Brent up 0.4 pct at $70.62 per barrel (0716GMT)
  • WTI up 0.5 pct at $63.39 per barrel

Precious metals

  • Gold prices hit 1-wk high as dollar turns lower
  • Gold specs cut net long positions in week to April 2
  • SPDR gold holdings fell 3 pct last week
  • Platinum hits its highest since May 31 at $912.90/oz
  • Spot gold up 0.4 pct at $1,296.06 per ounce (0605GMT)
  • US gold futures up 0.4 pct at $1,300.40 an ounce


  • Wheat eases for 3rd session on improved US crop outlook, soybeans firm
  • Most active CBOT wheat futures down 0.5 pct at $4.65-1/4 per bushel (0119GMT)
  • Most active corn futures up 0.1 pct at $3.62-3/4 per bushel
  • Most active soy futures up 0.3 pct at $9.01-1/2 per bushel
  • Most active rice futures up 0.1 pct at $10.53 per hundredweight

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

  • South Africa state capture inquiry resumes [Adjourned to Thursday, 11 Apr]
  • South Africa PIC inquiry resumes
  • Inauguration of Kenya’s supreme court justice Ojwang probe tribunal
  • Nigeria’s Buhari speech at 2019 Annual Investment Meeting in Dubai
  • South Africa releases national school monitoring survey

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

  • Tanzania to ban single-use plastics by July – environment minister
  • UN says 2,200 people flee Libya clashes, many more trapped
  • Kenya shilling gains ground, helped by inflows into govt bonds
  • South Africa rand retreats from 5-wk high
  • Sudan soldiers step in to protect protesters from security forces – witnesses
  • Squeezed by US shale, Nigeria oil propped up by Asian demand
  • Sudan security forces try to break up protest outside defence ministry – witnesses
  • UN-backed Libya govt: 11 killed and 23 wounded in clashes in southern Tripoli
  • Thousands of Sudanese protesters hold second day of sit-in outside Bashir’s compound
  • Rwanda honours those killed in genocide 25 years ago
  • Eastern Libya forces conduct air strikes on Tripoli as UN fails to reach truce
  • American tourist kidnapped in Uganda park rescued – Uganda military
  • Shell appoints its former Tunisia chief to head Egypt business
  • Nigeria suspends mining in Zamfara state after banditry surges
  • Sudan suffers total power blackout – ministry of electricity
  • UN calls for truce in southern Tripoli, Libya to evacuate wounded
  • Eastern Libya forces carry out air strike in south Tripoli – sources
  • Thousands of Sudan protesters hold second day of sit-in outside Bashir’s compound
  • France’s Macron to declare April 7 as commemoration day of Rwanda genocide
  • After floods drench eastern Zimbabwe, water shortages parch Harare
  • Egypt’s March non-oil private sector activity contracts, PMI shows
  • Sudan protesters clash with security forces outside Bashir’s compound
  • Civilian killed during protests in Sudan’s Omdurman
  • France’s Macron, UN’s Guterres want political solution to Libya crisis
  • Algeria’s parliament to elect new interim president on Tuesday – agency
  • UN to hold Libya conference as planned despite surge in fighting – envoy
  • Russia tells Libya’s Haftar it favours political solution to crisis
  • G7 powers urge Haftar to halt advance on Libya’s capital
  • Tunisia president Essebsi says he does not want to run for a second term
  • G7: Libya’s oil facilities must not be sued for political gain
  • G7 cannot accept military escalation in Libya, says Germany
  • Egypt says Libya crisis cannot be resolved through military means
  • Russia wants politicians in Libya to agree between themselves
  • Ethiopia inflation up to 11.2 pct in year to March – stats bureau
  • Egypt to slash fuel subsidies as it nears end of IMF programme
  • Morocco court upholds prison sentences against Rif protesters
  • Rwandan convicted of lying while seeking US asylum after genocide
  • Eastern Libya forces control the former Tripoli airport – residents, spokesman
  • Finely painted Ptolemaic tomb unveiled in Egypt
  • Tripoli forces retake former airport – minister
  • Thousands rally in Mali to protest ethnic violence
  • Bereaved families blame Boeing after Ethiopia crash report
  • DRC plans oil licensing round this year
  • Hundreds of thousands of Algerians march for sweeping change
  • US 2018 air strike in Somalia killed 2 civilians, US review finds
  • Africa Crude – Buyers aloof as offers still too high
  • UN secretary general says he is leaving Libya with “heavy heart”
  • Libya El Sharar oil field and Zawiya port working normally – field engineer
  • UN ups Zimbabwe aid appeal after cyclone
  • Tunisia tightens border controls due to escalation between rival Libya factions
  • Gulf states, Egypt say will boycott parliament meet in Doha
  • Macron appoints researchers to evaluate role of France in Rwanda genocide
  • Indonesia to send investigators to Ethiopia to aid crash probes
  • Flows to emerging markets should recover in 2019, 2020, IIF says
  • Libya forces allied to Tripoli takes 145 prisoners from Eastern forces
  • Algeria protesters return to the streets as spy boss reported sacked
  • Egypt kills hundreds of suspected militants in disputed gun battles
  • Tanzania’s tourism revenues jump 7 pct in 2018
  • Kenya shilling holds steady against the dollar
  • Fitch sees Brent crude at $62.5/bbl in 2020 as economic woes bite
  • Egypt says 2 bln eurobond offer completes international debt auction for FY 18/19
  • Russia says it is not backing Libya commander Haftar’s westward push
  • Guterres flying to eastern Libya to meet Haftar and lawmakers
  • South Africa’s Steinhoff accounts publication postponed again
  • Egypt says eurobond offer covered fourfold, no more international debt auctions in FY 2018/19
  • South Africa’s net FX reserves fall to $43.3 bln in March

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

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