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 1^st 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