#Africa #Markets | 1 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Investors eye Fed decision later today
  • Fed likely to ignore Trump’s call to cut interest rates
  • Sterling strengthens ahead of BoE MPC meet
  • China, US hold ‘productive’ trade talks in Beijing
  • New Zealand dollar hurt by jobs setback

Oil Markets

  • Oil falls on swelling US stockpiles, but global markets tense
  • US crude stocks rise to 466.4 mln barrels – API
  • Crisis in Venezuela seen as risk to oil supply
  • US ends all waivers on Iran sanctions
  • US oil output, exports are rising
  • Brent down 0.8 pct at $71.52 a barrel (0652GMT)
  • WTI down 1 pct at $63.25 per barrel

Precious metals

  • Gold steady as markets brace for Fed decision
  • Spot gold nearly steady at $1,282.01 per ounce (0107GMT)
  • US gold futures little changed at $1,284.30 an ounce

Grains

  • Corn extends gains into sixth session on planting delay fears
  • Most active CBOT wheat futures up 0.4 pct at $4.30-1/4 per bushel (0118GMT)
  • Most active corn futures up 0.6 pct at $3.64-1/2 per bushel
  • Most active soy futures up 0.2 pct at $8.55-1/2 per bushel
  • Most active rice futures down 0.3 pct at $10.55 per hundredweight

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

  • May day
  • World press freedom day
  • Decision on South Africa’s Semenya at court of arbitration for sports
  • South Africa’s COSATU May day rally in eThekwini to be graced by Ramaphosa; to deliver keynote speech
  • World Bank’s Malpass in Africa (29 Apr – 3 May); Ethiopia and Mozambique next, after visiting Madagascar
  • UK foreign secretary Hunt in Africa (29 Apr – 3 May); Ethiopia & Kenya next, after visiting Senegal, Ghana & Nigeria
  • South Africa’s state capture inquiry resumes tomorrow; 2 May

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

  • Arab states support Sudan transition, want stability – UAE minister
  • Dutch court to hear case against Shell brought by Nigerian activists’ widows
  • 2 Shell oil workers rescued after Nigeria Delta region kidnapping – police
  • Gambia signs oil exploration deal with BP for A1 block
  • South Africa’s Sibanye shaft declared safe, miners brought to surface
  • Algeria’s ruling party names relatively young new leader amid protests
  • Congo drops mercenaries investigation of opposition leader Katumbi
  • Sudan protest group says military “not serious” about civilian handover
  • Egypt’s Muslim Brotherhood says it will continue “peaceful” work regardless of Trump moves
  • Congo central bank cuts main interest rate to 9 pct
  • Algeria’s ruling FLN party elects new leader – state TV
  • Rains torment cyclone-hit communities in Mozambique
  • IMF staff says buildup of Zambia’s domestic expenditure arrears poses risk
  • Air strike kills four people in Somalia – relatives
  • Russia, Turkey call for ceasefire in Libya – Kremlin
  • South Africa’s Steinhoff cuts value of goodwill assets in 2017 accounts
  • Sudan protest group says military council “not serious” about civilian handover
  • Africa Oil – Awards for Indian tenders awaited, Nigerian offered high
  • South Africa’s rand steadies after trade data, stocks fall
  • Rwanda to increase spending by 11 pct in 2019-20
  • Support for South Africa’s ANC at 51-61 pct, opinion polls show
  • Egypt’s M2 money supply growth slows to 11.38 pct y/y in March – c.bank
  • African countries hit by commodity slump must ‘re-calibrte’ debt – IMF Africa chief
  • Nigeria’s Senate hikes 2019 budget with focus on security
  • Nigeria deploys satellite tech to track oil smugglers
  • Nigerian lawmakers pass 8.91 tln naira budget for 2019
  • Algeria army chief says big corruption cases to be revealed
  • Cambridge University to study how it profited from Atlantic slavery
  • South Africa posts trade balance surplus in March
  • Ivory Coast bans Olam rice imports for one year after spoilt shipment
  • Drought puts 2.3 mln people at risk in Angola – UNICEF
  • Rwanda detains rebel leader from group behind deadly attacks – minister
  • Kenya Airways likely to stick with Boeing as losses narrow
  • Sudan women at forefront of protests after years of oppression
  • Sudan’s military rulers accept resignations of three of their members
  • Uganda shilling strengthens on the back of charity flows
  • South African Airways agrees debt rollover deal in principle – CEO
  • Hengyi buys African crude ahead of Brunei refinery startup – sources
  • Kenya inflation shoots up to 6.58 pct in April due to food, fuel prices
  • As rains break, aid workers rush to reach cyclone victims in Mozambique
  • Kenya shilling strengthens against the dollar
  • Algeria ex-PM in court for corruption probe – Ennahar TV
  • Kenya’s Equity Group in deal to buy African bank stakes

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

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