#Africa #Markets | 14 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares fall to 3-1/2 month low as trade war escalates
  • MSCI Asia ex-Japan -0.9%, hits lowest since Jan 30
  • Nikkei -0.8%, touches more than 3-mth low
  • China shares down at midday in volatile trade
  • US stock futures higher, yen lower following Trump comments

Oil Markets

  • Oil prices edge up, but US-China trade tensions cap gains
  • Brent up 0.1 pct at $70.27 a barrel (0104GMT)
  • WTI up 0.2 pct at $61.17 a barrel

Precious metals

  • Gold steadies near 1-mth peak as trade escalation lifts safe-haven demand
  • SPDR Gold holdings sees best 1-day gain in nearly 2 mths
  • Spot gold mostly steady at $1,298.48 per bushel (0255GMT)
  • US gold futures down 0.2 pct at $1,299.20

Grains

  • Corn jumps as USDA says planting pace lagging
  • USDA says 30 pct of corn acres planted
  • Wheat rallies on strenght in corn
  • Soybeans rebound from more than 10-yr low
  • Most active CBOT corn futures up 1.8 pct at $3.63 a bushel (0044GMT)
  • Most active wheat futures up 0.8 pct at $4.40-1/2 per bushel
  • Most active soybean futures up 1.6 pct at $8.15 a bushel

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

  • Liberia’s Weah to meet June 7 protesters
  • Nigeria presidential election tribunal pre-trial hearing of HDP petition; PDP’s on 15 May
  • South Africa PIC inquiry continues
  • Ethiopia’s Zewde on state visit to Kenya
  • South Africa labour statistics for Q1-19 expected; unemployment rate [prev. 27.1%], unemployed persons [prev. 6.1M]

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

  • Somalia’s economic growth pace could rise to 3% in 2019 – IMF
  • Clashing tribes and shrinking grassland as Kenyan airport sparks property boom
  • Clashes in Sudan’s capital after deal on transitional power structure
  • Sudan’s military council says officer killed, protesters wounded – statement
  • Political games hinder efforts to end ebola outbreak in Congo – WHO
  • Gabon vows no mercy over theft of hardwood worth nearly $250 mln
  • Zimbabwe faces worst power cuts in 3 years, mines hit
  • Africa Oil – Angolan clears, July programme expected by weekend
  • Sudan charges Bashir with involvement in killing of protesters – public prosecutor
  • Sudan’s military council says structure of transitional bodies agreed
  • South Africa – Ramaphosa’s economic reforms in focus as ANC adjusts to smaller majority
  • Sudan forces disperse protest in Khartoum North – Reuters witness
  • Kenya shilling holds steady against the dollar
  • Uganda shilling inches up against the dollar
  • Egypt’s new desert capital faces delays as it battles for funds
  • Tanzania to offer 26 big game hunting blocks in new auction
  • Zimbabwe starts rolling power cuts, hitting mines, industry
  • Kenya watchdog approves Commercial Bank of Africa and NIC Group merger
  • South Africa’s Vodacom earnings fall 6.6% on black share scheme
  • South African rand falls on risk aversion as US-China trade war heats up

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

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