#Africa #Markets | 30 Apr

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks fall on softer Chinese data, caution before Fed meeting
  • Most Asian shares fall, Europe to open mixed
  • China manufacturing data misses expectations
  • Caution ahead of policy-setting Fed meeting

Oil Markets

  • Oil prices firm as Saudi Arabia says OPEC may extend supply cuts
  • Brent up 0.3 pct at $72.25 per barrel (0701GMT)
  • WTI up 0.3 pct at $63.67 per barrel

Precious metals

  • Gold gains as disappointing China data bruises Asia stocks
  • Spot gold up 0.3 pct at $1,283.44 per ounce (0731GMT)
  • US gold futures up 0.3 pct at $1,285.30 an ounce

Grains

  • Wheat hits 6-wk low on crop-friendly weather, soybean prices firm
  • Most active CBOT wheat futures down 0.8 pct at $4.32 per bushel (0728GMT)
  • Most active corn futures unchanged at $3.61-3/4 per bushel
  • Most active soy futures up 0.2 pct at $8.62 per bushel
  • Most active rice futures unchanged at $10.63 per hundredweight

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

  • AfDB investment forum on special agro-industrial processing zones in Abuja, Nigeria
  • Nigeria’s 2019 budget expected to be passed into law today
  • Nigeria foreign exchange reserves for Apr-19 [prev. $44.1B]
  • Kenya inflation data for Apr-19 expected [act. 6.6% yy, fcst. 3.8% yy, prev. 4.4%]
  • Kenya – Former Nairobi county governor Kidero fraud case ruling expected
  • South Africa’s Maimane of the DA on campaign trail in Northwest
  • World Bank chief Malpass in Africa (Madagascar, Ethiopia, & Mozambique); 29 Apr – 3 May
  • South Africa’s Malema of EFF on campaign trail in Free State
  • IMF presentation & panel discussion in Abuja, Nigeria, on the economic outlook for Sub-Saharan Africa
  • South Africa trade balance data for Mar-19 [prev. ZAR3.99B]
  • South Africa M3 for Mar-19 [act. 6.95% yy, fcst. 5.1%, prev. 5.3%]
  • South Africa PSCE for Mar-19 [act. 6.1% yy, fcst. 5.8%, prev. 6.0%]
  • South Africa – Johannesburg mayor delivers state of the city address

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

  • Algeria ex-PM in court for corruption probe – Ennahar TV
  • Kenya inflation shoots up to 6.58 pct y/y in April
  • Cambridge to study how it profited from Atlantic slavery
  • South African Airways says reaches debt roll over deal
  • Kenya’s Equity Group in deal to buy African bank stakes
  • South Africa’s rand weakens on China manufacturing slip
  • Kenya Airways reports higher annual revenue, smaller pretax loss
  • South Africa March credit demand growth inches up to 6.1 pct m/m
  • Kenya Airways reports 12-mth pretax loss of 7.59 bln shillings
  • Sudan protest group calls for strike amid transition stand-off
  • Dior lights up Marrakech [Morocco] with fashion show and floating candles
  • Guards repel assault on Libya’s biggest oilfield as Tripoli battle rages
  • Sudan protest group says military bids to break up sit-in demanding civilian rule
  • Congo registers record of 27 new ebola cases in one day
  • South Sudan hires US lobbyists to help block war crimes court – contract
  • Uganda pop star and critic of President Museveni detained over protest
  • Africa Oil – Spot activity slows on disruptions and tenders
  • Kenya’s Equity Bank, Safaricom team up to expand digital banking
  • Sudan’s military, opposition discuss powers of joint council – sources
  • Algeria finance minister, ex-police chief in court amid graft investigations
  • South Sudan says its oil is flowing freely despite Sudan port strike
  • Swiss group files criminal complaint against Credit Suisse over Mozambique
  • Air strike kills four people in Somalia – relatives
  • Rain grounds Mozambique aid flights as cyclone death toll hits 38
  • Kenya’s Safaricom CEO to leave as row erupts over successor – sources
  • Angry protests erupt in Tunisia city demanding development
  • “He’s no Abraham Lincoln”: Libya UN envoy warns againsts backing eastern commander
  • Death toll in Mozambique after Cyclone Kenneth jumps to 38
  • Uganda shilling unchanged as players stay on market sidelines
  • Nigeria’s Bonny Light, Amenam oil exports under force majeure
  • Algeria’s finance minister appears in court in corruption probe – Ennahar TV
  • Algeria’s former national police chief appears in court over corruption charges
  • Kenya shilling holds steady against end month demand

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

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