#Africa #Markets | 3 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares mixed before US jobs data, Europe expected higher
  • Europe poised to open higher; Asian stocks diverge
  • US non-farm payroll due; Wall St down overnight on oil slump
  • China, Japan shut for holiday, return early next week

Oil Markets

  • Oil prices slip on way to weekly drop amid surging US output
  • Poland releases oil reserves to ease Russian pipeline disruption
  • Brent down 0.4 pct at $70.49 per barrel (0646GMT)
  • WTI down 0.2 pct at $61.61 per barrel

Precious metals

  • Gold holds near 4-mth low as Fed stance hoists dollar
  • Gold about 1.1 pct down so far this week
  • SPDR Gold holdings fall to lowest in nearly 7 mths
  • Platinum touches more than 4-mth high
  • Spot gold little changed at $1,272.01 per ounce (0523GMT)
  • US gold futures steady at $1,273.30 an ounce

Grains

  • Corn edges higher, poised for biggest weekly gain in 5 mths
  • Most active CBOT wheat futures up 0.5 pct at $4.46 per bushel (0142GMT)
  • Most active corn futures up about 0.1 pct at $3.70-3/4 per bushel
  • Most active soy futures unchanged at $8.43-1/4 per bushel
  • Most active rice futures down 0.2 pct at $10.68 per hundredweight

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

  • UN world press freedom day
  • South Africa state capture inquiry continues
  • UK foreign secretary Hunt in Africa (Ethiopia, Kenya, Senegal, Ghana, Nigeria); 29 Apr – 3 May
  • World Bank president Malpass in Africa (Madagascar, Ethiopia & Mozambique); 29 Apr – 3 May
  • South Africa’s Ramaphosa of the ANC on campaign trail in Cape Town
  • South Africa’s Maimane of the DA on campaign trail in Soweto
  • Kenya Bankers Association launch card, mobile & online safety awareness #KaaChonjo campaign; CBK’s Njoroge keynote speaker
  • Africa travel indaba continues in Durban, South Africa

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

  • South Africa’s rand weaker as elections approach
  • OMV’s Q1 core profit falls due to production disruptions in Libya
  • Kenya’s Safaricom FY earnings jump on upbeat M-Pesa growth
  • Frustration over South African racial disparities builds as poll nears
  • Congolese refugees cross illegally into Uganda, raising risk of ebola – aid groups
  • Drama turns young Gambians away from ‘desperate route to Babylon’
  • Protesters in Benin clash with police in post-election violence
  • Cholera outbreak declared in cyclone-hit northern Mozambique
  • Prosecutor orders Sudan’s Bashir interrogated over suspected money laundering, terrorism financing
  • Kenya clamps down on gambling ads, says industry endangering lives
  • Africa Crude – Trading muted due to May Day, Indian tenders
  • Huge crowds join sit-in outside Sudan’s defense ministry – witness
  • South Africa says Chinese loan to Eskom not in jeopardy
  • As assault grinds on, Tripoli lawmakers reject offensive by UAE ally
  • Developing countries need bigger FX crisis toolkits – BIS
  • Frustration over South African racial disparities builds as poll nears
  • South Africa’s Ascendis sells Bioscience business for $33 mln
  • Angola exchange set for first IPOs in 2019 – bourse CEO
  • Uganda pop star and critic of President Museveni freed on bail
  • Egypt to auction $1 bln in 1-yr dollar t-bills – cbank
  • Suspects in murder of Scandinavian women go on trial in Morocco
  • South African state rail firm Transnet names another acting CEO
  • Athletics – Semenya says ‘no threat’ to women’s sport
  • Nigeria, Brexit-bound Britain target closer investment ties
  • Strike by Tunisian fuel workers leads to queues and empty pumps
  • Uganda shilling inclined on weaker side amid uptick in banks’ demand
  • Egypt targets 8 pct growth by fiscal year 2021-22 – PM
  • Kenya to lower fiscal deficit to 5.6 pct in 2019/20 fiscal year
  • South Africa’s Absa PMI rises in April as blackout fears ease
  • Haftar’s ally UAE says “extremist militias” control Libyan capital
  • Solar tracking bracelets protect nomadic Kenyan mothers and babies

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

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