#Africa #Markets | 16 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares slip as US sanctions on Huawei threaten fresh tensions with China
  • Asia stocks slip after US unveils sanctions on Huawei
  • Australian jobs data spurs rate cut expectations
  • Soft US, China economic data underscore slowdown
  • US bond yields dip, 2-yr yields hits 15-mth low

Oil Markets

  • Oil edges up for 3rd session on Mideast tensions
  • Market shrugs off gain in US crude oil inventory
  • Uncertainty over OPEC supply helping to cap price gains
  • Brent up 0.6 pct at $72.18 a barrel (0612GMT)
  • WTI up 0.6 pct at $62.40 per barrel

Precious metals

  • Gold holds steady as rising equities counter safe-haven demand
  • Spot gold steady at $1,295.84 per ounce (0103GMT)
  • US gold futures down 0.1 pct at $1,296.90 an ounce

Grains

  • Corn jumps 1.5 pct as rains threaten to further slow planting
  • Most active CBOT corn futures up 1.6 pct at $3.75-1/2 a bushel (0044GMT)
  • Most active wheat futures up 0 .7 pct at $4.52-1/2 a 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]

  • Ethiopia’s ruling EPRDF executive committee meets
  • 2019 Transform Africa summit in Kigali rounds up; day 3
  • South Africa state capture inquiry continues
  • MTN to list on Nigerian Stock Exchange
  • South Africa’s EFF post-election press conference

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

  • South Africa’s rand slips as trade tensions weigh on risk demand
  • South Africa’s Investec reports 3.6 pct rise in annual earnings
  • Low prices, promotions lift South Africa’s Dis-Chem annual profit
  • Sudan opposition regrets military council’s suspension of talks
  • Kenya raises $2.1 bln with dual-tranche eurobond
  • Sudan forces clear protesters with gunfire; talks suspended for 72 hours
  • From camel to cup: Camel milk froths hopes in drought-hit Kenya
  • Libya general Haftar did not consult with UAE before his move on Tripoli – minister
  • Zimbabwe to rebase economy after adopting new currency – finmin
  • Mozambique needs $3.2 bln for post-cyclone reconstruction – local media
  • UN calls on Tunisia to immediately release detained official
  • Clashing tribes and shrinking grassland as Kenya airport sparks
  • At least 17 Niger soldiers killed in ambush – govt spokesman
  • Sudan forces fire into air, seeking to clear protesters from central Khartoum – Reuters
  • Egypt’s Sisi opens huge suspension bridge over the Nile
  • Africa Oil – Bonny Light force majeure lifted, Angolan programme awaited
  • South Africa’s Long4Life beats sales estimates, shares jump
  • Uganda agrees to pay oil firms more to use planned pipeline
  • Zimbabwe platinum mines to ride out power cuts, gold output less secure
  • Tunisia’s economic growth slows to 1.1 pct in first quarter
  • South Africa retail sales up 0.2 pct y/y in March
  • Uganda shilling holds steady against the dollar
  • South Africa’s Ramaphosa says to speed up economic reforms, fix Eskom
  • Tharisa seeks to tap Zimbabwe’s battery minerals potential
  • Egypt unemployment rate drops to 8.1 pct in Q1 2019 – statistics agency
  • South Africa’s Ramaphosa says committed to speedy economic reforms
  • Nigeria consumer inflation edges up to 11.37 pct in April – stats office
  • MTN Nigeria eyes debt and equity sale after stock market listing
  • South Africa’s Spar in final stages of talks to buy controlling stake in Polish retail chain
  • Fights to end polio, contain ebola made tougher by rising violence, research finds
  • Egypt’s EGAS offers 13 LNG cargoes for June-July – sources

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

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