#Africa #Markets | 6 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Global shares, oil drop after Trump tariff threat
  • MSCI Asia ex-Japan sinks 1.9 pct
  • European shares seen following suit; London closed
  • Trump tweets tariff hike on Chinese goods due Friday
  • China blue-chips drop more than 6 pct despite targeted RRR cut
  • Safe-haven yen jumps, China’s yuan plummets

Oil Markets

  • Oil prices slump after Trump’s tariff threats against China
  • Brent down 2.1 pct at $69.34 per barrel (0646GMT)
  • WTI down 2.2 pct at $60.57 per barrel

Precious metals

  • Gold gains as Trump threatens to increase tariffs on Chinese goods
  • Spot gold up 0.3 pct at $1,282.96 per ounce (0121GMT)
  • US gold futures up 0.2 pct at $1,283.70 an ounce

Grains

  • Soybean prices sink to lowest in over 7 months
  • Most active CBOT soybean futures down 2.2 pct at $8.24-1/4 per bushel
  • Most active corn futures down 3.2 pct at $3.59-1/4 per bushel
  • Most active wheat futures down 2.2 pct at $4.28-1/2 per bushel

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

  • Nigeria’s Buhari to meet visiting UN general assembly president Maria Garces in Abuja
  • Ethiopia national day of mourning for former president Gidada
  • Ghana’s central bank to introduce upgraded bank notes
  • South Africa Standard Bank PMI Apr-19 [act. 50.3, prev. 48.8]
  • Nigeria Stanbic IBTC Bank PMI Apr-19 [prev. 53.6]
  • South Africa state capture inquiry resumes
  • South Africa high court to hear case between journalist Karima Brown & EFF’s Malema
  • Rwanda central bank MPC meeting & decision
  • Special voting for 2019 South Africa elections commence (6-7 May); main vote on 8 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]

  • South Africa’s Massmart CEO Hayward to step down
  • Kenya shilling firms, helped by remittances
  • South Sudan says agrees oil exploration deal with South Africa
  • Kosmos Energy looks to sell down interest in Mauritania-Senegal basin
  • Libya’s Haftar orders troops to fight harder during Ramadan
  • Benin guide for missing French tourists found dead
  • Morocco’s Q1 unemployment rate edges down to 10 pct
  • Total enters $8.8 bln deal with Occidental for Anadarko’s Africa assets
  • Sudan’s military council says it will present vision for country’s transition on Monday
  • Sudan’s ousted president Bashir questioned in corruption investigation – prosecutor
  • UN calls for a week-long humanitarian truce in Libya capital
  • Egypt’s net foreign reserves at $44.218 bln at end-April – c.bank
  • Brother of Algeria’s ex-President Bouteflika placed in custody by military judge – state tv
  • South Africa’s ruling ANC vows to act on corruption; EFF promises radical reforms
  • Egypt expects giant solar park to be fully operational in 2019
  • South Africa’s ruling ANC vows to punish corrupt officials as national vote nears
  • Egypt’s Qalaa Holdings’ revenues to exceed 90 bln EGP next year – chairman
  • Egypt non-oil private sector activity expands for first time in 8 months – PMI
  • Tunisia police kills 3 militants in Sidi Bouzid
  • Morocco considers measures to increase tax revenue
  • Libya’s NOC calls for safe return of head of oil union taken in east
  • Algeria police arrest brother of former president, 2 former intelligence chiefs – sources
  • Protest in southwest Sudan ends in violence
  • Hardline Egyptian Islamist receives 5-yr sentence for court siege case
  • 710 fighters of Libya’s official govt killed since beginning of battle for Tripoli
  • Sudan faces fuel crisis and worsening cash crunch
  • Ethnic attacks in Mali killed 18 civilians this week – peacekeeping mission
  • South Africa’s largest opposition party promises to lead coalitions, tackle racism
  • Tunisia’s annual inflation falls to 6.9 pct in April
  • Islamic State and Chadian fighters behind attack in southern Libya – source
  • Athletics – Olympic chief sympathises with South Africa’s Semenya, respects CAS decision
  • Athletics – UK runner Sharp received death threats for South Africa’s Semenya comments
  • Athletics – South Africa’s Semenya’s future in doubt after she says no to medication to lower testosterone
  • Congo ebola deaths surpass 1,000 as attacks on treatment centres go on
  • South Sudan parties agree on six more months to form unity govt – IGAD
  • Zimbabwe extends central bank governor’s term by another five years
  • Malawi sentences man to death for murder of albino teenager
  • Congo records 1,000th ebola death in current outbreak
  • South Sudan lifts state of emergency in north – state radio
  • Hundreds of thousands protest against ruling elite in Algeria
  • Africa Crude – Total sells IOC a VLCC, Nigerian outlook brightens
  • World Bank to boost lending to Africa to help fight poverty – Malpass
  • Cameroon’s GDP growth to rise to 4.2 pct in 2019 – IMF
  • Zambia’s finance minister says tax reforms needed to cut debt
  • Tunisia orders army to transport fuel during walkout
  • South African logistics firm recommends review of bulk liquid terminal tender
  • World Bank scales up support for Cyclone Idai hit nations to $700 mln
  • Diplomats condemn order suspending Uganda journalists
  • Uganda shilling weakens on demand from importers and banks
  • Will young voters have their say in South Africa’s election?
  • Kenya shilling strengthens against the dollar
  • Kenya’s Safaricom FY earnings jump on m-pesa growth
  • AfDB to lend Tunisia $500 mln in 2019
  • MTN appoints South Africa’s former deputy finmin as chairman-designate
  • Frustration over South African racial disparities builds as poll nears
  • Congolese refugees cross illegally into Uganda, raising risk of ebola – aid groups

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

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