#Africa #Markets | 17 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia comforted as China data hint at recovery
  • China GDP grows 6.4 pct, industrial output surges in March
  • Nikkei edges up to highest since December
  • NZ dollar, bond yields dive on soft inflation data

Oil Markets

  • Oil prices rise for a 2nd day on China demand, US stockpile drop
  • Brent rises to $72.08/bbl; highest in 2019
  • OPEC supply cuts, US sanctions support oil prices
  • China’s March refinery throughput up 3.2 pct y/y
  • US crude stocks drop by 3.1 mln bbls last week – API data
  • Brent up 0.4 pct at $72.01/bbl (0657GMT)
  • WTI up 0.7 pct at $64.49/bbl

Precious metals

  • Gold near 4-mth low as China GDP fuels risk sentiment
  • Gold has fallen by over 5 pct from Feb high
  • SPDR gold holdings fall to near 6-mth lows
  • Spot gold up 0.1 pct at $1,277.32 per ounce (0513GMT)
  • US gold futures up 0.2 pct at $1,278.80 an ounce

Grains

  • Wheat ticks up after losses, global production outlook cap gains
  • Most active CBOT wheat futures up 0.1 pct at $4.45-1/2 per bushel (0015GMT)
  • Most active corn futures down about 0.1 pct at $3.58-3/4 per bushel
  • Most active soy futures unchanged at $8.88 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]

  • Ivanka Trump in Ivory Coast
  • South Africa central bank to release monetary policy report
  • South Africa retail sales data for Feb-19 [fcst. 1.3% yy, prev. 1.2%]
  • South Africa inflation data for Mar-19 [act. 4.5% yy, fcst. 4.0%, prev. 4.1%]
  • Namibia’s Geingob to deliver state of the nation address
  • South Africa PIC inquiry continues
  • South Africa state capture inquiry continues
  • Zimbabwe’s Mnangagwa to tour Karo platinum exploration site in Mhondoro Ngezi
  • South Africa’s Malema of the EFF on campaign trail in KZN
  • South Africa’s Maimane of the DA on campaign trail in Northern Cape
  • South Africa’s Ramaphosa of the ANC to officiate handover of primary schools in KZN
  • 5th session of the Africa regional forum on sustainable development in Marrakesh, Morocco; day 2
  • Odinga’s AfroChampions infrastructure Boma meeting in Nairobi, Kenya; day 2
  • Nigeria’s senate to debate police reform bill

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

  • Sudan’s Bashir moved to Khartoum’s Kobar prison – family sources
  • South Africa consumer inflation quickens to 4.5 pct in March
  • South Africa’s Tiger Brands to fight listeria class action
  • South Africa’s rand lifted by faster Chinese growth
  • Kenya’s Nation Media Group 2018 pretax profit down 16.4 pct
  • Terrorist presence on migrants boats from Libya now a certainty – Italy’s Salvini
  • Ebola survivors comfort sick and frightened in Congo outbreak
  • Sudan’s interim military council fires 3 top public prosecutors
  • Shelling in Libya capital kills 2, wounds 8 – Tripoli official
  • Washington will not remove Sudan from terror list while military rules – US official
  • 150 missing after shipwreck in eastern Congo
  • Egypt’s parliament backs measures that could extend Sisi’s term
  • Algeria military considering all options to end crisis
  • Egypt’s Sisi calls Sudan’s military leader to offer support
  • Cholera cases rise in Kenya’s capital, top hospital says
  • Kenya food, water scarcity will worsen as rains fall – Met dept
  • Ebola is real, Congo president tells sceptical population
  • UN Security Council considers demanding Libya ceasefire
  • Tommy Hilfiger and Calvin Klein probe ‘labour abuses’ in Ethiopia factories
  • Algeria’s Sonatrach says to hold talks with Chevron next week
  • South Africa’s rand weaker after Moody’s report
  • Kenya family files lawsuit against Boeing over Ethiopian Airlines crash
  • Libya conflict stirs divisions in Gulf and Europe
  • Russia recognises new authorities in Sudan – RIA agency
  • Zimbabwe nearly doubles bread price as economic woes mount
  • South Africa’s growing debt a concern – Moody’s
  • Cholera cases rise in Kenya’s capital, top hospital says
  • Zambia miner Lumwana says higher taxes will have severe impact on business
  • South Africa’s Northam Platinum raises $118 mln with medium term note placement
  • Uganda shilling holds steady as banks pare positions
  • Kenya shilling weakens against the dollar
  • Qatar call for arms embargo against Libya’s Haftar

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

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