#Africa #Markets | 15 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks bounce from 3-1/2-mth lows as trade fears soften
  • MSCI Asia-Pacific index up 0.5%, Nikkei sheds 0.1%
  • Stocks up as US President Trump softens trade rhetoric
  • China industrial output, retail sales fall short of forecasts
  • Oil surge stalls on bigger-than-expected US inventory build

Oil Markets

  • Oil prices ease on surprise rise in US stockpiles, but Middle East tensions support
  • Brent down 0.5 pct at $70.90 a barrel (0100GMT)
  • WTI down 0.6 pct at $61.39 a barrel

Precious metals

  • Gold steadies off 1-mth peak on Sino-US trade talk hopes
  • Spot gold steady at $1,297.45 per ounce (0136GMT)
  • US gold futures steady at $1,298 an ounce


  • Most active CBOT wheat futures up 0.2 pct at $4.49-1/4 per bushel (0115GMT)
  • Most active corn futures up 0.3 pct at $3.69-3/4 per bushel
  • Most active soy futures down 0.1 pct at $8.30-1/2 per bushel
  • Most active rice futures down 0.5 pct at $10.96 per hundredweight

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

  • Nigeria inflation data for Apr-19 [fcst. 11.1% yy, prev. 11.3%]
  • South Africa retail sales data for Mar-19 [fcst. 1.2% yy, prev. 1.1%]
  • Nigeria presidential election tribunal pre-trial hearing of main opposition PDP petition
  • South Africa state capture inquiry resumes
  • South Africa PIC inquiry continues

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

  • South African rand steady amid US-China trade talk hopes
  • Souht Africa’s Long4Life reports annual profit, suspends dividend
  • MTN Nigeria arranging naira funding as it prepares for listing
  • South Africa’s Spar in final stages of talks to buy controlling stake in Polish retail chain
  • MTN Nigeria plans to sell shares via public offering in future
  • Fights to end polio, contain ebola made tougher by rising violence, research finds
  • Egypt’s EGAS offers 13 LNG cargoes for June-July – sources
  • Sudan military council, opposition inch closer to final deal
  • Sudan committee to investigate targeting of protesters – military council
  • Sudan transition to last 3 years – military coucil
  • Force majeure lifted on exports of Nigeria’s Bonny Light oil
  • Violence overshadows Sudan’s transition push
  • Barrick Gold prepping sale of Zambian copper mine in H2 – sources
  • Libya aid agencies seek UN resolution to protect people caught up in fighting
  • Macron wants to meet Libya’s Haftar to push ceasefire – French foreign minister
  • Africa Oil – Trade slow as new programmes awaited, backwardation weighs
  • South Africa’s Nasper sells Brazilian online comparison site Buscape
  • Exxon’s Mozambique LNG project plan gets approval
  • MTN targets Thursday for long-planned Nigeria listing
  • First aid in years lifts hope for cut-off towns in CAR
  • Gabon finds 200 missing containers of rare hardwood – prosecutor
  • Uganda shilling weakens as offshore investors buy dollars
  • Microsoft to spend $100 mln on Kenya, Nigeria tech development hub
  • Libya aid agencies seek UN resolution to protect people caught up in fighting
  • Somalia’s economy on right path, but still vulnerable – IMF
  • Liberians grapple with potential loss of US legal status
  • South African unemployment rises, in challenge for Ramaphosa
  • South Africa’s unemployment rate rises to 27.6% in Q1
  • Egypt teaches students about love and marriage in attempt to curb divorce
  • Uganda shakes up electricity access amid global infrastructure reset
  • South Africa’s Kumba Iron Ore sees higher H1 headline profit
  • Somalia’s economy could strengthen to 3% in 2019 – IMF

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

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