By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Global shares advance on data boost from US, China
- US GDP, China industrial profits data help stocks
- MSCI ACWI up 0.06 pct
- Italian bonds rally after S&P affirms rating
- Spain’s IBEX falls over half a percent after elections
- Dollar dips
Oil Markets
- Oil falls after Trump presses OPEC to make up for Iran sanctions
- Prices fell 3 pct on Friday after Trump comments
- Oil rallied in April as Trump tightened Iran sanctions
- Oil markets were already tight amid OPEC-led supply cuts
- Russia hopes to restore pipeline to Europe in 2 weeks
- Brent down 0.7 pct at $71.66 per barrel (0648GMT)
- WTI down 0.7 pct at $62.87 a barrel
Precious metals
- Gold near 1-wk high; weak US inflation prompts Fed rate cut bets
- SPDR gold holdings at lowest since Oct. 19
- Gold posted biggest daily percentage gain in 7-wks on Friday
- Palladium off 1-mth peak
- Spot gold down 0.1 pct at $1,284.31 per ounce (0626GMT)
- US gold futures down 0.2 pct at $1,287.70 an ounce
Grains
- Corn jumps nearly 1 pct to hit 1-wk high
- Most active CBOT wheat futures up 0.5 pct at $4.44-3/4 per bushel (0127GMT)
- Most active corn futures up 0.8 pct at $3.64-1/4 per bushel
- Most active soy futures up 0.4 pct at $8.70-3/4 per bushel
- Most active rice futures up 0.8 pct at $10.54 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- World Bank president Malpass in Africa (Madagascar, Ethiopia & Mozambique); 29 Apr – 3 May
- South Africa electoral court to hear arguments from Freedom Front Plus that Black First Land First be deregistered for racial discrimination
- South Africa’s Malema of the EFF on campaign trail in Free State
- South Africa’s Maimane of the DA on campaign trail in Free State
- Nairobi county governor Sonko testifies before Kenya senate
- Kenya inflation data for Apr-19 expected [fcst. 3.8% yy, prev. 4.4%]
- Nigeria’s 2019 budget expected to be passed tomorrow; 30 Apr
- South Africa state capture inquiry resumes on Thursday; 2 May
- South Africa PIC inquiry resumes on 14 May
Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Algeria’s former national police chief appears in court over corruption charges
- Nigeria’s Bonny Light crude oil following pipeline closure
- Kenya shilling holds steady against end month demand
- IMF urges economic stability during Algeria’s political transition
- Exports of Nigeria’s Amenam crude oil under force majeure – oil sources
- South Africa’s rand firmer as dollar buyers tread water ahead of Fed comments
- United Nations gives Mozambique $13 mln for Cyclone Kenneth damage
- IMF in touch with Sudan but no lending until arrears addressed – official
- Libya forces push back against Haftar in house-to-house battles
- Two foreign workers kidnapped from oil rig in Nigeria’s Delta
- Eastern Libya state oil from AGOCO producing 304,000 bpd – chairman
- Abu Dhabi fund deposits $250 mln in Sudan c.bank – WAM
- Rescuers rush to help as serious flooding starts in cyclone-hit Mozambique
- Air strike hits Tripoli as eastern Libya forces send warship to oil port
- Sudan’s military and opposition agree in principle to joint council – sources
- Libya’s NOC says revenue up but fighting poses serious production risk
- Algeria protest leader calls for 6-mth transition period
- China’s Xi touts more than $64 bln in Belt and Road deals
- US air strike kills 3 ISIS fighters in Somali region
- Sudan signs $200 mln loan with Kuwait-based fund
- Kenya secures $666 mln from China for tech city, highway
- 2 Shell oil workers kidnapped, police killed, in Nigeria’s Delta – police
- Nigeria’s power cut as four plants shut down
- Hundreds of thousands protest against Algeria’s ruling elite
- Ivory Coast to send 650 more troops to UN’s Mali mission
- South Sudan oil exports disrupted by Port Sudan protests
- South Sudan court drops treason charge against economist
- Africa Oil – new Mostarda stream added to revised Angolan programme for June
- World Bank’s new president skips China’s Belt and Road for Africa trip
- India investigates 40 migrant workers in Gabon after UN flags labour abuses
- Thousands pray at Sudan protest site, crowds demand civilian rule
- UN to probe sex-for-food aid allegations after Mozambique’s Cyclone Idai
- Kenya secures $2.23 bln from China for data centre, highway
- Nigeria and Saudi Arabia to draft MoU on oil and gas – Nigeria oil ministry
- South Africa’s AMCU union says it hasn’t broken labour laws
- Kenya shilling strengthens against the dollar
- 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
- Sierra Leone’s fishing ban to replenish stocks yields little
N.B. Full stories of above headlines are available on Reuters