#Africa #Markets | 17 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares shudder as Beijing talks tough
  • Shanghai shares skid as Trump targets Huawei
  • Asia index ex-Japan hits 15-wk trough
  • Yen edges higher as mood turns risk averse
  • Bitcoin suddenly tumbles, then pares losses

Oil Markets

  • Oil steady as Middle East tensions mount, set for weekly gains
  • Brent down 1 cent at $72.61 a barrel (0658GMT)
  • WTI up 8 cents at $63.95 a barrel

Precious metals

  • Gold prices wobble as risk sentiment improves
  • Spot gold may fall towards $1,264 – analyst
  • Silver hits 5-mth low
  • Palladium down 19 pct since scaling record peak in March
  • Spot gold mostly unchanged at $1,286.27 per ounce (0732GMT)
  • US gold futures steady at $1,286.90 an ounce

Grains

  • Corn jumps to 3-mth high, set for biggest weekly gain in nearly 4 years
  • Most active CBOT wheat futures up 0.6 pct at $4.69-3/4 per bushel (0050GMT)
  • Most active corn futures up 0.7 pct at $3.81-3/4 per bushel
  • Most active soy futures up 0.2 pct at $8.41-1/4 per bushel
  • Most active rice futures up 0.1 pct at $10.92 per hundredweight

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

  • South Africa state capture inquiry continues
  • Nigeria supreme court to rule on sacked chief justice Onnoghen case
  • Microsoft Africa Development Centre launch in Lagos, Nigeria
  • World Telecommunications and Information Society Day #WTISD19

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 Sibanye wins final go-ahead for Lonmin deal
  • South Africa’s rand weakens as dollar boosted by solid data
  • Why Zimbabwe faces worst power cuts in 3 years
  • Lawyer requests Morocco state compensation for families of murdered Scandinavian
  • Total CEO says planned buy of Anadarko’s Africa assets ‘perfectly fitting’
  • Small plane crashes in Dubai killing 3 Britons, one South African – statement
  • South Africa’s Sibanye-Stillwater plans to resume dividend payments in 2020
  • Nigerian Stock Exchange aims to complete public listing this year – CEO
  • Chinese firms seek Turkey partners in Africa – Turkish contractors’ chief
  • Emerging market foreign direct investment tumbles – IIF
  • Facebook says removes 265 “fake accounts” linked to Israel
  • France’s Macron to meet Libya’s eastern commander Haftar next week – presidency
  • Standing tall: first black African woman scales Everest
  • Africa Oil – Angolan crude exports to edge up in July, diffs to stay high
  • Sudan opposition decries army’s suspension of talks, sees growing anger
  • Malawi president faces tough election against deputy, former pastor
  • De Beers, Namibia invest in new diamond mining ship
  • Uganda opposition figure says state is financially strangling him
  • Kenya to finalise IMF deal within 2 months, rate cap “no issue” – finmin
  • MTN Nigeria debuts in Lagos in $6.5 bln listing
  • ‘Safe haven’ for fleeing families hit by attacks in Burkina Faso
  • Zambian kwacha seen on the ropes, Kenyan shilling to firm; in week ahead
  • Nigeria central bank head Emefiele to serve 2nd 5-yr term
  • South Africa’s Tongaat Hulett, lenders to consider standstill agreement
  • Motor racing – F1 in talks with Marrakesh and Kyalami for African race
  • Egypt forces kill 47 militants, lose 5 of their own men – military
  • Kenya easily raises $2.1 bln eurobond, debt concerns linger
  • Burundi moves to seize assets of opponents in exile
  • MTN Group sees local ownership of MTN Nigeria at 35% post-IPO – investors
  • Kenya’s KCB Group sees acquisition of NBK sealed by October
  • Gold miner Metallon demands $132 mln from Zimbabwe central bank – documents
  • Investec battles Brexit, weak South African economy
  • South Africa’s Dis-Chem annual profit misses estimates
  • South Africa’s Investec reports 3.6 pct rise in full-year earnings

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

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