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
