By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares fall despite strong Wall Street; oil retreats
- MSCI Asia ex-Japan off 0.3 pct
- China blue-chips volatile amid policy uncertainty
- European futures down in early trading
- Oil prices retreat after surging on supply concerns
Oil Markets
- Oil falls as supply still adequate despite Iran sanctions, but market tightening
- IEA says oil markets are adequately supplied
- US, OPEC spare capacity to make up lost Iran supply
- US exports 1st crude oil cargo to Indonesia
- Oil price curve in backwardation
- Brent down 0.5 pct at $74.17 a barrel (0637GMT)
- WTI down 0.5 pct at $65.96 a barrel
Precious metals
- Gold slips towards 4-mth low as robust dollar dents appeal
- SPDR gold holdings fall to 6-mth low
- Spot gold down 0.2 pct at $1,269.93 an ounce (0602GMT)
- US gold futures down 0.1 pct at $1,271.80 an ounce
Grains
- Soybean prices rise, edge away from near 5-mth low
- Most active CBOT wheat futures down about 0.1 pct at $4.44-3/4 per bushel (0050GMT)
- Most active corn futures up about 0.1 pct at $3.60-1/2 per bushel
- Most active soy futures up 0.1 pct at $8.63 per bushel
- Most active rice futures up 0.1 pct at $10.24 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Nigeria to issue new 30-yr bond
- South Africa’s Ramaphosa in KZN to assess damage by floods and recovery efforts; just after Egypt trip for AU summit on Libya and Sudan
- Nigeria’s Buhari to visit Lagos, country’s commercial capital; first since campaign visit
- South Africa’s Malema of the EFF on campaign trail in Northern Cape
- South Africa’s Maimane of the DA visits IEC offices for feedback on complaints against ANC
- Kenya teachers start training for new curriculum
- Nigeria’s junior oil minister Kachikwu in Saudi Arabia; last day
- South Africa’s PIC inquiry continues
- Ethiopia’s Abiy Ahmed in China for Belt & Road Initiative forum; starts in Beijing tomorrow (25 Apr)
- Kenya’s Kenyatta & Odinga due in China for Belt & Road Initiative forum and to seek funding for SGR extension
- Nairobi county governor Sonko questioning by Kenya Senate’s devolution committee; key query is the composition of his exco, where key positions remain vacant
- South Africa consumer confidence for Q1 2019 (act. 2, prev. 7)
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- More than 50 dead in South Africa after heavy rains
- Interpol rescues dozens of child slaves from markets in West Africa
- Algeria’s tycoon Kouninef brothers placed in temporary custody – Ennahar TV
- South Africa consumer confidence dips further in Q1 – survey
- BMW to buy cobalt direct from Australia, Morocco for EV batteries
- South African rand falls as US data bolsters dollar
- Egypt voters back constitutional changes giving more power to President Sisi
- Libya forces push back Haftar’s troops south of Tripoli – witnesses
- Algeria state energy company Sonatrach’s CEO sacked – state TV
- China’s Tsingshan expands plans for Zimbabwe steel plant
- Sudan suspends Philippine port operator contract pending cancellation – statement
- UN to help raise $50 bln for Lake Chad revival project
- Egypt to turn to private sector to restore historic buildings
- Sudan protesters take the train to support demonstrators
- Africa Crude – Angolan sells swiftly, Nigerian programmes emerge
- Uganda singer and presidential hopeful says he is under house arrest
- Migrants in Libya jail were reportedly seriously wounded in shooting – UN
- Algeria’s army chief hails judiciary for anti-graft move
- Olam International eyes Nigeria’s wheat market with Dangote Flour Mills deal
- Tanzania denies blocking release of scathing IMF report
- Prominent Sudan protester says revolution seeks removal of whole regime
- Morocco trains foreign students in its practice of moderate Islam
- Zimbabwe’s Econet plots Botswana Mascom listing by October
- Landslide kills 3 in Tanzania, several injured
- African summit gives Sudan military 3 months for reforms
- Uganda receives Bombardier planes in step to national carrier relaunch
- Sudan militia commander waits in wings after president ousted
- BNP Paribas seeks buyers for stakes in banks in Tunisia, Gabon
- Kenya schools learn ABC of court to preserve playgrounds
- Kenya shilling weakens slightly against the dollar
- Fire extinguished on Nigeria’s oil-exporting NCTL pipeline – Aiteo
N.B. Full stories of above headlines are available on Reuters
