#Africa #Markets | 9 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks tank on nearing tariff threat, drag down Europe
  • European equities poised for lower open, Asia at 8-wk lows
  • Beijing vows retaliation after USTR sets tariff hike in motion
  • Trump says China “broke the deal”; talks resume on Thursday

Oil Markets

  • Oil prices fall as trade row fears eclipse US inventory decline
  • Brent, WTI futures drop 1 pct
  • Brent down 0.7 pct at $69.91 a barrel (0600GMT)
  • WTI down 0.6 pct at $61.76 per barrel

Precious metals

  • Gold prices hold firm ahead of US-China trade talks
  • Gold facing strong resistance at $1,290 levels – analysts
  • Spot gold up 0.1 pct at $1,281.19 per ounce (0542GMT)
  • US gold futures up 0.1 pct at $1,282.10 per ounce

Grains

  • Corn drops for 2nd session as US weather improves; soybeans down
  • Most active CBOT wheat futures down 1 pct at $4.34-3/4 per bushel (0124GMT)
  • Most active corn futures down 1 pct at $3.60-1/2 per bushel
  • Most active soy futures down 0.7 pct at $8.21-3/4 per bushel
  • Most active rice futures down about 0.1 pct at $10.95 per hundredweight

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

  • 22nd inter-governmental committee of senior officials & experts for West Africa (#ICE2019WA) in Robertsfield, Liberia; 8-10 May
  • South Africa state capture inquiry resumes
  • UN General Assembly president Maria Garces in Ghana
  • South Africa 2019 national & provincial elections; results trickle in, final expected on Saturday (11 May)
  • Guinea’s Conde in Namibia on state visit
  • South Africa mining production (Mar-19) [fcst. -7.3% yy, prev. -7.5%]
  • South Africa manufacturing production (Mar-19) [fcst. 0.1% yy, prev. 0.6%]
  • South Africa FX reserves (Apr-19) [act. $49.5B, prev. $49.7B]

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

  • Uganda launches 2nd round of competitive bidding for oil blocks
  • Kenya’s Equity Group posts 6 pct rise in Q1 pretax profit
  • AngloGold Ashanti to review divestment options for South African assets
  • Egypt headline inflation drops to 13.0 pct in April – CAPMAS
  • South Africa net foreign reserves fall to $43.245 bln in April
  • South Africa’s MTN first-quarter service revenue rises
  • South Africa counts votes as Ramaphosa’s ANC looks to retain power
  • Angola president sacks chair of state energy firm Sonangol
  • UN report finds likely use of armed drone in Libya by Haftar or ‘third party’
  • South Sudan president says formation of unity govt should be delayed a year
  • Sudan’s protest coalition calls for disobedience campaign
  • France seeks Libya ceasefire, migrant centre struck
  • UNAIDS chief charged with enabling ‘culture of harassment’ joins Mali govt
  • South Africa’s ANC seen winning election but support faltering
  • Congo recaptures one of two fugitive suspects in UN experts’ killings
  • IMF praises Congo Republic efforts to manage debt after China deal
  • Amid criticism, South Sudan signs new deal with US lobbyists
  • Nigeria court dismisses oil export claims against Eni, Petrobras
  • Africa Oil – US imports, gap left by Iran sanctions boost West African crude
  • MTN Nigeria gets listing approval, securities regulator says
  • Kenya to upgrade old rail track to deliver Uganda link
  • Libyan PM meets Macron, shell hits migration centre
  • Zimbabwe court says main opposition leader illegitimate, party to challenge ruling
  • Zambia’s 2019 maize output seen 16 pct down at 2 mln tonnes
  • Anadarko’s final investment decision on Mozambique LNG project due on June 18
  • Politics: no laughing matter in poverty-hit Zimbabwe
  • From crime to corruption, South African voters speak out
  • Clashes in ebola-affected Congo city kill at least 9
  • WHO experts recommend ramping up ebola vaccine after Congo cases surge
  • Egypt expects 5.8 pct economic growth in Q4 of FY 2018-19 – minister
  • Chinese logging takes heavy toll on farmers in Guinea-Bissau
  • Uganda shilling weakens on surge in offshore demand
  • Corruption, payment delays stifle Kenya manufacturers – survey
  • Former head of Ethiopia intelligence charged in absentia
  • Kenya shilling weakens due to oil importer demand

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 )

Google photo

You are commenting using your Google 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.