#Africa #Markets | 29 Apr

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

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