#Africa #Markets | 9 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares edge up to 8-mth peak, oil settles
  • MSCI Asia-Pacific hits 8-mth high as Chinese shares rise
  • Europe expected to begin cautiously
  • Brexit summit, ECB meeting, earnings season in focus

Oil Markets

  • Oil near 5-mth highs amid Libya violence, OPEC cuts, US sanctions
  • US sanctions against Iran, Venezuela further tighten market
  • Libya fighting triggers concerns over its oil exports
  • Slowing economy could weigh on fuel consumption later this year
  • Brent at $70.99 per barrel (0700GMT), easing from $71.34 (Nov 2018 high) earlier
  • WTI at $64.42 per barrel, easing $64.77 (Nov 2018 high) earlier

Precious metals

  • Gold prices gain as dollar loses ground after weak US data
  • SPDR gold holdings drop for 6th straight session
  • Platinum hovers below 10-mth peak hit on Monday
  • Spot gold up 0.2 pct at $1,299.34 per ounce (0534GMT)
  • US gold futures up 0.1 pct at $1,303.20 an ounce

Grains

  • Wheat drops to 1-wk low on US crop condition, corn eases for 3rd day
  • Most active CBOT wheat futres down 1 pct at $4.60-3/4 per bushel (0113GMT)
  • Most active corn futures down 0.1 pct at $3.59-3/4 per bushel
  • Most active soy futures largely unchanged at $8.99 per bushel
  • Most active rice futures down 0.5 pct at $10.37 per hundredweight

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

  • South Africa PIC inquiry continues
  • South Africa’s Ramaphosa to be briefed by PRASA at its offices in Cape Town
  • Bank of Namibia MPC decision [fcst. 6.75%, prev. 6.75%]
  • EABC CEO roundtable in Arusha, Tanzania
  • IMF world economic update
  • World Bank Kenya economic update
  • Signing of IEC electoral code of conduct by South Africa’s political parties
  • Egypt’s Sisi in US; to meet Trump today

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

  • Sudan security forces in fresh attempt to clear protesters outside defence ministry
  • South Africa’s carbon tax could cost Amplats up to $21 mln – CEO
  • South Africa’s rand on the front foot in early trade
  • Kenya central bank says to hold rate-setting meeting on May 27
  • Heavy gunfire heard at protest in Sudan’s capital – live TV
  • Libya’s UN-backed leader receives phone call from Italy’s Conte
  • US tourist, guide kidnapped in Uganda freed after ‘settlement’ – tour firm
  • Trump, Egypt’s Sisi to discuss security during White House visit
  • Drought to drag down Kenya’s 2019 economic growth, World Bank says
  • Battle rages for Libya’s capital, airport bombed
  • Sudan army blocks attempt to disperse protesters – witnesses
  • Libya’s UN-backed PM in Tripoli receives phone call from Macron
  • Eastern Libya force confirms air strike in Tripoli’s only functioning airport
  • Nigeria seeks private investors for aircraft leasing venture
  • UN envoy to Libya condems attack on Tripoli’s Mitiga airport
  • Sudan’s defence minister says security forces won’t permit attempts to divide them – SUNA
  • Egypt strategic rice reserves at six months after latest purchase – ministry
  • Africa Crude – Angolan clearing for May as Nigerian still struggles
  • Eastern Libya forces lose control of former Tripoli international airport – witnesses
  • Rwanda rebel group spokesman faces terrorism-related charges in Kigali court
  • World Bank cuts Zambia’s 2019 GDP growth forecast
  • 7 people killed over 2 days during protests in Sudan – interior minister
  • Sub-Saharan Africa economic growth recovery to take longer – World Bank
  • Fighting in south of Libya capital kills 25, wounds 80 – health ministry
  • Egypt unveils 2,500 yr-old mummy at forgotten cemetery
  • South Africa court says Mozambique ex-finance minister can be extradited to US – lawyer
  • UN repeats calls for Libya truce to allow evacuations
  • UN tells Libya’s Serraj it is staying in Tripoli at critical time
  • France had no warning of Haftar’s advance on Tripoli, Libya – French diplomatic source
  • EU’s Mogherini calls for humanitarian truce in Libya
  • Zimabwe to start paying white farmers compensation in April

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

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