#Africa #Markets | 10 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks retreat from 8-mth high as Trump opens new trade war front
  • Trump threatens tariffs on EU over long-simmering aircraft row
  • IMF cuts global economic outlook, weighs on sentiment
  • Crude oil prices near 5-mth high

Oil Markets

  • Oil rises amid OPEC supply cuts, US sanctions
  • Brent up 0.3 pct at $70.83 per barrel (0056GMT)
  • WTI up 0.3 pct at $64.26 per barrel

Precious metals

  • Gold trades near 2-wk high on US-EU trade tensions
  • Spot gold down 0.1 pct at $1,303.14 per ounce (0110GMT)
  • US gold futures down 0.1 pct at $1,307.60 an ounce

Grains

  • Wheat eases for 5th session on supply pressure
  • Most active CBOT wheat futures down 0.3 pct at $4.58-1/4 per bushel (0108GMT)
  • Most active corn futures up 0.2 pct at $3.60-3/4 per bushel
  • Most active soy futures up about 0.1 pct at $8.99-1/4 per bushel
  • Most active rice futures unchanged at $10.29 per hundredweight

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

  • Bank of Namibia MPC decision [fcst. 6.75%, prev. 6.75%]
  • Kenya’s Kenyatta in Mauritius for 4-day state visit
  • South Africa PIC inquiry continues; Holomisa to be cross-examined
  • South Africa’s EFF Malema press conference
  • South Africa’s Ramaphosa officiates Nissan expansion announcement ceremony
  • South Africa SACCI business confidence for Mar-19 [act. 91.8, prev. 93.4]

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

  • Kenya shilling gains ground, helped by remittances
  • Nissan South Africa to invest $213 mln to build new Navara model
  • Refugees in Egypt struggle to live as economic hardships deepen
  • South Africa rand retreats slightly from near 6-wk best
  • Egypt’s annual urban consumer price inflation eases to 14.2 pct in March – capmas
  • Trump praises Egypt’s Sisi despite concerns about human rights, Russian arms
  • Algeria interim president promises free elections
  • Algeria authorities expel AFP bureau chief, news agency says
  • Zimbabwe seeks $613 mln aid from donors after drought, cyclone
  • Suffering grows from Libya conflict, migrants moved
  • Sudan opposition says around 20 killed since sit-in began
  • Africa Crude – Nigerian crude nearly clear for April, Angolan for May
  • Libya’s NOC discusses with oil firms security at oil facilities – statement
  • Congo ebola outbreak ‘far from contained’, US aid chief says
  • UN says to hold Libya’s national conference as soon as possible
  • Nigeria parliament recommends tax rise on luxury goods
  • Senior Sudan protest organiser calls for sit-in to continue
  • Uganda makes arrests in kidnap of American tourist and her guide
  • Sudan must deliver credible plan for transition – UK, US and Norway
  • UN Libya mission stays in Libya but reduces staffing levels
  • Carrefour Kenya targets number 2 retail banking this year, franchisee says
  • IMF trims South Africa’s economic growth forecast to 1.2 pct
  • Sudan police told not to confront peaceful gatherings – spokesman
  • Nigeria’s twin town ponders cause of multiple births
  • Tunisia’s trade deficit rises to $1.33 bln in first quarter
  • Congo president turned down predecessor’s PM pick – sources
  • Uganda shilling steady, to ease due to dollar demand from energy firms
  • Algeria’s parliament appoints Abdelkader Bensalah as interim president – witness
  • South Africa’s carbon tax could cost Amplats $21 mln a year from 2021 – CEO
  • Kenya shilling weakens on demand from energy sector
  • Drought will drag down Kenya’s 2019 economic growth, World Bank says
  • Malawi 2018/19 maize output up 24 pct, minimal effect from cyclone Idai – minister
  • Kenya central bank says to hold rate-setting meeting on May 27

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

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