#Africa #Markets | 26 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Dollar dips ahead of US GDP print, shares subdued
  • Dollar slips from 23-mth highs
  • US GDP data awaited
  • Global stocks flat, European markets open mixed
  • Gold firms 0.4 pct

Oil Markets

  • Oil dips but set for longest run of weekly gains in years in tense market
  • Prices up about 40 pct in 2019 on OPEC cuts, US sanctions
  • Russian oil quality concerns add to tight market
  • Saudi Arabia expected to raise output to fill supply gap
  • Oil prices to rise amid tight market, political tension – FGE
  • Brent down 0.3 pct at $74.16 per barrel (0647GMT)
  • WTI down 0.5 pct at $64.91 per barrel

Precious metals

  • Gold eyes first weekly gain since March as growth concerns linger
  • Spot gold up 0.1 pct at $1,278.62 per ounce (0105GMT)
  • US gold futures up 0.1 pct at $1,280.60 an ounce

Grains

  • Soybeans set for third straight weekly drop as bumper stocks weigh
  • Most active CBOT wheat futures up 0.3 pct at $4.42-3/4 per bushel (0051GMT)
  • Most active corn futures up 0.3 pct at $3.58-1/4 per bushel
  • Most active soy futures largely unchanged at $8.59 per bushel
  • Most active rice futures unchanged at $10.42 per hundredweight

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

  • World Bank’s Malpass in Africa this weekend; Madagascar, Ethiopia, Mozambique and Egypt
  • Nigeria manufacturing PMI for Apr-19 [prev. 57.4]
  • China Belt & Road Initiative forum underway in Beijing; Kenya & Ethiopia leaders attending
  • Guinea’s Conde in Ivory Coast
  • Uganda’s Museveni on state visit to Zimbabwe
  • Zimbabwe international trade fair in Bulawayo; Uganda’s Museveni attending
  • South Africa national freedom day tomorrow (27 Apr); Ramaphosa already in Eastern Cape on campaign trail ahead of commemoration
  • South Africa’s Malema of the EFF on campaign trail in Northwest
  • Nigeria Q3 2018 labour statistics expected

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

  • Thousands protest against Algeria’s ruling elite
  • Emerging market stocks dip, debt markets stabilise
  • Cyclone leaves trail of destruction across Mozambique
  • Uganda shilling weakens on demand from banks, importers
  • South Africa’s Pick n Pay posts 18 pct jump in full year earnings
  • South Africa’s Implats says Q3 platinum output up
  • South Africa’s rand strengthens slightly ahead of US growth data
  • Sierra Leone’s fishing ban to replenish stocks yields little
  • IMF’s Lagarde says China’s Belt and Road should only go where sustainable
  • World Bank’s new president skips China’s Belt and Road for Africa trip
  • ‘Better to kill us’: Ethiopian residents fear evictions from satellite towns
  • Libya – Migrants evacuated as confident Tripoli fighters tell Haftar: ‘We are coming’
  • Morocco police use water cannon to disperse teacher protest
  • Lucara finds largest uncut diamond in recent history in Botswana mine
  • Cyclone Kenneth hits Mozambique after lashing Comoros
  • Death toll in South Africa floods and mudslides rise over 70
  • Huge crowds join sit-in outside Sudan’s defence ministry
  • Africa Oil – Sonangol sells out of spot cargoes but offers too high for some buyers
  • Athletics – Semenya wins 5,000m gold at South African Championships
  • Ivory Coast bank assets rise 15 pct in 2018
  • Algeria’s Sonatrach, Eni sign MOU to renew gas supply contract to Italy
  • South Africa’s Sibanye-Stillwater lowers valuation for miner Lonmin
  • Sudan’s ruling military council will retain “sovereign authority” – spokesman
  • Mixed end-month outlook for African currencies
  • Violence flares in northern Kenya as pressure mounts on villagers
  • Tunisia police switch off broadcasts of private TV station
  • Picture-perfect Congo ranger’s gorilla selfie goes viral
  • ExxonMobil increases its exploration acreage offshore Namibia
  • Sudan judges to march in Khartoum – judge
  • Uganda mum of multiple quadruplets struggles to provide for 38 kids
  • Kenya ready to issue new eurobond to refinance maturing bond
  • Kenya economy to grow at least 6 pct in 2019, finmin says
  • Sudan may face counter coup if no accord on transition – opposition leader
  • Malawi telecoms company TNM’s 2018 profit up 27 pct
  • Cyclone Kenneth batters Comoros as heads to Mozambique, Tanzania
  • Kenya shilling holds steady amid importer demand
  • Kenya’s economic growth rebounds to 6.3 pct in 2018 – stats office
  • Output at South Africa’s Amplats hit by Eskom power cuts

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

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