#Africa #Markets | 7 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares off 5-wk low, remain fragile amid US-China trade tensions
  • Nikkei falls as markets reopen after 10-day break
  • Spreadbetters expect softer open for European shares
  • Lighthizer: China reneged on commitments; e-mini futures slip
  • US-China talks to continue this week; Chinese VP due to attend

Oil Markets

  • Oil mixed as US-China trade war drags on prices, while sanctions keep markets tense
  • Brent down 12 cents at $71.12 per barrel (0710GMT)
  • WTI up 5 cents at $62.30 per barrel

Precious metals

  • Gold gains as risk appetite dips on Trump’s tariff threat
  • SPDR gold holdings at lowest since Oct. 11
  • Spot gold up 0.2 pct at $1,283.41 per ounce (0731GMT)
  • US gold futures up 0.1 pct at $1,284.50 an ounce


  • Soybeans fall for 8th session on renewed US-China trade tensions
  • Most active CBOT wheat futures down 0.8 pct at $4.33-3/4 per bushel (0156GMT)
  • Most active corn futures unchanged at $3.64-1/4 per bushel
  • Most active soy futures down 0.2 pct at $8.28-1/2 per bushel
  • Most active rice futures up 0.3 pct at $10.73 per hundredweight

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

  • 2019 Elephants summit in Kasane, Botswana
  • Nigerian Senate resumes
  • Nigeria’s Buhari to meet visiting UN general assembly president
  • Special voting in 2019 South African elections continues (6-7 May); main vote on 8 May
  • South Africa state capture inquiry continues
  • South Africa SACC business confidence Apr-19 [prev. 91.8]

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

  • MTN met deadline to respond to $2 bln Nigerian tax demand – judge
  • Bush fire razes four villages in South Sudan, kills 33
  • South Africa’s rand steady with elections bets balanced
  • Egypt spent $3.51 bln on fuel subsidies in first nine months of FY 2018-2019 – minister
  • Kenyan shilling strengthens, helped by inflows into govt bonds
  • Bombardier to be supplied by Morocco plant after sale – minister
  • Sudan forces seize weapons, including explosives belts – agency
  • US refiners tap Iraq, West Africa and Brazil for scarce crude supplies
  • Cameroon has brief window to try to halt violence – UN rights chief
  • Niger fuel tanker blast kills at least 55
  • Two more swine fever outbreaks detected in South Africa
  • Egypt sells $1 bln in 1-yr dolla t-bills – central bank
  • Nigeria police accused of abusing prostitution suspects
  • Nigeria’s Nembe oil pipeline hit by shutdown, protests
  • South Sudan agrees oil exploration deal with South Africa
  • ICC will no longer refer Jordan to UN for failure to arrest Sudan’s Bashir
  • Nigeria stock exchange receives MTN listing application, regulator says
  • As elections loom, South Africans call for faster land reform
  • Protesters block Aiteo’s Nembe oil facility in Nigeria
  • Kenya’s KCB Group looks to buy banks in Rwanda, DRC – CEO
  • Kosmos Energy plans to sell down interest in Mauritania-Senegal basin
  • Kenya shilling firms, helped by remittances

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.