#Africa #Markets | 22 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks slip, oil near 6-mth peak as US prepares to tighten Iran sanctions
  • MSCI Asia-Pacific index down 0.3 pct, Nikkei flat
  • US set to end sanctions waiver for Iran oil
  • Brent, US crude oil futures surge to near 6-mth high

Oil Markets

  • Oil prices climb as US set to end Iran sanction waivers
  • Brent, WTI hit highest since late 2018
  • Asian importers hardest hit by potential end of sanction waivers
  • Iran’s oil exports are tumbling
  • Sanctions come amid OPEC-led cuts
  • Brent up 2.3 pct at $73.62 a barrel (0647GMT)
  • WTI up 2.2 pct at $65.41 a barrel

Precious metals

  • Gold rebounds from near 4-mth low, oil rally lends support
  • Speculators switch to net short in COMEX gold last week – CFTC
  • SPDR gold holdings fall to lowest in over 6 mths
  • Spot gold up 0.3 pct at $1,278.86 per ounce (0538GMT)
  • US gold futures up 0.4 pct at $1,280.90 an ounce


  • Wheat eases on supply pressure, soybeans up for 2nd session
  • Most active CBOT wheat futures down 0.6 pct at $4.45-3/4 per bushel (0158GMT)
  • Most active corn futures down 0.1 pct at $3.58 per bushel
  • Most active soy futures up 0.3 pct at $8.82-3/4 per bushel
  • Most active rice futures up 0.1 pct at $10.44 per hundredweight

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

  • Earth Day
  • Qatar emir in Rwanda for 3-day state visit; arrived 21 Apr
  • Senior Chinese delegation also visiting Rwanda in tandem
  • Kenya’s Kenyatta & Odinga heading to China this week to seek financing for SGR extension from Naivasha to Kisumu
  • Bank of Botswana MPC meeting; 25 Apr
  • Reserve Bank of Malawi MPC meeting; 25-26 Apr
  • Malawi to launch pilot malaria vaccination exercise; 23 Apr
  • South Africa producer inflation data for Mar-19; 25 Apr

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

  • Sudan’s military council warns against road blocks amid continuing protests
  • Attack on Mali army base kills 11 soldiers
  • Egyptians vote for second day in referendum on keeping Sisi in power
  • Sudanese protesters to escalate rallies, no longer recognise military council
  • Nigeria’s Nembe Creek Trunk Line shut due to fire – Aiteo
  • UK woman killed, 3 other people kidnapped in northern Nigeria
  • Sudan central bank strengthens currency to 45 Sudanese pounds to dollar – agency
  • Sudan military leadership says formation of military-civilian council being considered
  • Sudna delegation to visit US to discuss lifting of terrorism listing – SUNA
  • Thousands protest in Morocco demanding release of jailed activists
  • Explosions in Libya capital after late night air strike
  • Airport in Libya’s Tripoli re-opens, authorities say
  • Heavy explosion in Libya capital after aircraft heard – witnesses
  • Libya closes Tripoli’s only functioning airport after residents report air strike
  • Sudan authorities arrest members of Bashir’s party – source
  • Algeria court summons former PM Ouyahia in public waste probe – state TV
  • Sudan’s TMC retires lieutenant generals from national intelligence and security
  • Sudan arrests several top members of former ruling party – senior party official
  • Algeria interim president appoints acting cenbank governor – Ennahar TV
  • Sudan attorney general orders formation of committee to oversee corruption probe
  • Death toll from Congo boat accident rises to 40 – interior minister
  • Heavy clashes break out in southern suburbs of Libya capital – residents
  • Sudan’s public prosecutor investigating Bashir on suspicion of money laundering – source
  • Militiamen kill senior WHO official in attack on Congo ebola centre
  • Congo Republic ships first iron ore ahead of expected production boom
  • More protesters flood Sudan’s sit-in to demand civilian rule
  • Trump’s call to Haftar shows US believes in Libya army role in war on terrorism – spokesman
  • White House says Trump spoke to Libya commander Haftar on Monday
  • IMF gives Mozambique $118 mln for Cyclone Idai rebuilding
  • Exiled Congo opposition leader’s fraud conviction overturned
  • Hundreds of thousands back on Algeria’s streets, demanding radical reform
  • Sudan opposition to present candidates for civilian leadership on Sunday
  • Media – Engie wants to quadruple its Africa business – Figaro
  • Attacks on hospital in ebola zone kill Cameroon doctor
  • Scorching heat and fatigue challenge Sudan protesters
  • Mali struggles to disarm ethnic militia suspected of massacre
  • South Africa brings forward Eskom bailout to avert default
  • Angola’s Sonangol plans to downsize to focus on core business
  • Presidential panel member rejects final report on South Africa land reform
  • South Africa’s Eskom could have defaulted this month – finance ministry
  • US, Russia say cannot support a UN call for Libya truce – diplomats
  • Mali govt resigns after massacre, insecurity
  • Islamic State cites 69 casaulties from Nigeria army and African troops
  • US urges Sudan’s military to step aside, make way for civilian-led transition
  • Expansive New Kingdom tomb unveiled in Egypt’s Luxor
  • Uganda’s top court upholds ruling on extending president’s rule
  • Man charged in Uganda court for kidnap, ransom of American tourist and driver
  • Sudan pound strengthens on black market after Bashir’s ouster – traders
  • South Africa’s rand weaker as risk demand fades before Easter, stocks up
  • South Africa’s Shoprite cuts chairman Wiese’s voting influence
  • Angola voids telecoms tender, orders re-run
  • IMF forecasts Tanzania economic growth of 4-5 pct in medium term
  • Libya interior ministry accuses France of supporting Haftar, ends cooperation
  • Africa Crude – Scarcer Angola cargoes sell fast, Nigeria selling prices lower
  • Angola annuls winning tender for 4th telecoms operating license – presidency
  • Nigeria’s Buhari signs law to increase minimum wage – aide
  • South Africa’s PIC denies considering ex-Absa executive as next CEO
  • South Africa faces escalating unrest if ANC doesn’t reform, opposition says
  • Egypt’s Banque du Caire eyeing sale of 20-30 pct stake of $300-400 mln
  • Nigeria chief justice sacked for false asset declaration
  • South Sudan willing to talk to those seeking unity govt delay – foreign minister
  • Most Africa currencies seen under pressure [next week], Nigeria’s stable
  • Nigeria tribunal rules suspended chief justice guilty of violating asset declaration rules
  • 13 dead, 142 missing after east Congo boat accident – president
  • Liberia, Guinea iron venture sign outline export deal
  • Kenya – Nairobi Securities Exchange resumes trading in KCB, NBK shares
  • Nigeria unlikely to change forex policy, information minister says
  • Kenya’s KCB offers to buy National Bank via share swap
  • Moody’s upgrades Egypt’s rating to B2, expects more economic growth
  • Kenya shilling weakens against the dollar

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

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