#Africa #Markets | 25 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slip; German, Korean data hurt risk appetite
  • Dollar index near 2-yr peak, pound at 2-mth lows
  • European shares seen slightly higher
  • BoJ says rates will stay at extreme lows until early 2020
  • Markets eye earnings, US Q1 GDP on Friday

Oil Markets

  • Brent oil hits $75 for first time in 2019 amid tighter Iran sanctions
  • Saudi Arabia, allies can compensate for Iran supply loss – Rysted
  • US crude stocks at Oct 2017 high of 460.63 mln barrels – EIA
  • US crude oil production at record 12.2 mln bpd – EIA
  • Brent up 0.4 pct at $74.90 per barrel (0705GMT)
  • WTI up 5 cents at $65.94 per barrel

Precious metals

  • Gold steadies as strong dollar negates support from weak data
  • SPDR gold holdings fall to over 6-mth low
  • Spot gold steady at $1,275.51 per ounce (0548GMT)
  • US gold futures down 0.1 pct at $1,277.60 an ounce


  • Soybeans tick up after 3 days of losses; wheat unmoved
  • Most active CBOT wheat futures unchanged at $4.38-1/2 per bushel (0114GMT)
  • Most active corn futures down 0.2 pct at $3.55-1/4 per bushel
  • Most active soy futures up 0.1 pct at $8.56-1/4 per bushel
  • Most active rice futures up 0.2 pct at $10.18 per hundredweight

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

  • World Malaria Day
  • Kenya’s Wajir West by-election
  • South Africa’s 2019 national orders award ceremony
  • South Africa’s Malema of the EFF on the campaign trail in Northwest province
  • China Belt and Road Initiative forum starts in Beijing; leaders of Ethiopia, Kenya, etc attending
  • Guinea’s Conde to visit Ivory Coast
  • 2nd UN online digitial cooperation in Africa dialogue
  • EABC-UNECA workshop on AfCFTA in Arusha, Tanzania
  • Nigeria’s Buhari to visit northeast Borno state; heads to the UK afterwards
  • South Africa’s Maimane of the DA on the campaign trail in Eastern Cape
  • 3rd annual West Africa fertilizer forum in Lome, Togo; 24-26 Apr
  • Zimbabwe international trade fair in Harare
  • Tanzania’s Maguful in Malawi for 2-day state visit; arrived 24 Apr
  • South Africa PIC inquiry continues

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

  • Output at South Africa’s Amplats hit by Eskom power cuts
  • South Africa’s rand dips as global growth fears, oil spike stokes risk-off
  • South Africa’s Gold Fields Q1 production up 10 pct
  • Tullow Oil cuts output guidance, Kenya timeline ‘ambitious’
  • Tullow Oil downgrades output guidance, delays Uganda project
  • Millions of children miss measles shots, creating outbreaks – UNICEF
  • 3 members of Sudan military council resign after demand by opposition
  • More food aid could boost fight against ebola in Congo, agencies say
  • 325 detained migrants evacuated by UN as war reaches Tripoli, Libya
  • Anti-abortion billboards fuel stigma in Kenya, say women’s rights groups
  • More than 60 dead in South Africa after heavy rains
  • Another cyclone expected to hit Mozambique on Thursday
  • Ebola first responders threaten strike if security not improved
  • South Africa intends to de-register militant mining union AMCU
  • Sudan’s military council invites opposition for talks
  • Tanzania makes $310 mln advance payment for dam on heritage site
  • New CEO of Algeria’s Sonatrach pledges to boost output, exports
  • Rwanda court repeals law banning satirical cartoons
  • Libya – Detention centre opened but migrants too frightened to leave as war reaches Tripoli
  • UN envoy hopes Libya peace efforts can bear fruit soon
  • Algeria won’t extend crude-for-products deal with Vitol beyond April – sources
  • Africa Oil – Angolan marked up amid tight supply, Nigerian diffs sluggish
  • Italy urges Europe to ready plan for Libya refugee flight
  • Oil firm Seplat eyes $700 mln for Nigerian gas development
  • Aide to Libyan commander Haftar visits Moscow
  • Another cyclone expected to hit Mozambique on Thursday
  • South Africa’s Tongaat to restate prior results after accounting review
  • Algeria’s tycoon Kouninef brothers placed in temporary custody – Ennahar TV
  • Nigeria’s oil minister, Saudi Aramco discuss investment options
  • Sudan’s protesters hope cheerful staying-power will oust army
  • UK man guilty of possessing bomb-making materials in Kenya
  • WHO recommends 1-hr maximum screen time per day for under-5s
  • South Africa govt says it intends to de-register AMCU union
  • Algeria investigating corruption allegations relating to ex-energy minister – Ennahar TV
  • South Africa’s Life Healthcare warns on earnings after disposal
  • Drones to deliver vaccines, blood and drugs across Ghana
  • Kenya shilling weakens on energy sector demand
  • South Africa consumer confidence dips further in Q1 – survey

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

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