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