#Africa #Markets | 20 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Australian, Indian elections boost Asian shares, trade fears ease
  • MSCI Asia ex-Japan +0.5%; China blue-chips drag
  • Elections lift shares in Australia, India
  • Oil up more than 1.3 pct after Saudi minister comments

Oil Markets

  • Oil rises after OPEC+ says to keep output cuts, Iran tension rises
  • Brent hits highest since late April
  • US oil touches nearly 3-wk high
  • Brent up 1.3 pct at $73.11 a barrel (0604GMT)
  • WTI up 1.1 pct at $63.47 a barrel

Precious metals

  • Gold steadies as trade tensions, Iran worries in focus
  • Spot gold up 0.1 pct at $1,278.06 per ounce (0137GMT)
  • US gold futures up 0.2 pct at $1,278 an ounce

Grains

  • Corn jumps more than 1 pct as rains threatens more delays
  • Most active CBOT wheat futures up 1.4 pct at $4.71-1/2 per bushel (0119GMT)
  • Most active corn futures up 1.3 pct at $3.88-1/4 per bushel
  • Most active soy futures up 0.9 pct at $8.29-1/2 per bushel
  • Most active rice futures down about 0.1 pct at $11.07 per hundredweight

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

  • Nigeria central bank MPC meeting starts; decision tomorrow [fcst. 13.5%, prev. 13.5%]
  • 4th Ghana CEO summit in Accra; 20-21 May
  • Nigeria GDP Q1-2019 [act. 2.0% yy, fcst. 2.3%, prev. 2.4%]
  • South Africa state capture inquiry resumes
  • South Africa PIC inquiry resumes

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

  • Kenya shilling holds firm against the greenback
  • Nigeria’s economy grew 2.01% in Q1 2019 – stats office
  • South Africa’s Barloworld H1 earnings jump 14%
  • South Africa’s rand firmer as risk selloff pauses
  • Sudan military and opposition resume talks after street violence
  • Explosion targets tourist bus near near Egypt musuem
  • Saudi Arabia deposits $250 mln into Sudan’s central bank
  • Zimbabwe central bank says it secures $500 mln to ease dollar shortages
  • Sudan commander says democratic elections are his goal
  • Schwarzenegger struck by flying kick at South Africa sports event
  • Malawi’s president makes final plea for re-election in tight race
  • Forces loyal to Libya’s UN-backed govt receive military hardware
  • Libya’s NOC chief says instability could lead to 95% oil production loss
  • Ethiopia starts rationing electricity for homes and industries
  • At disaster forum, storm-hit Mozambique says will seek help to build back better
  • South Africa’s Sibanye wins final regulatory go-ahead for Lonmin deal
  • Zambia’s president insists on tax changes opposed by mining firms
  • South Africa power utility Eskom raises $361 mln through loan drawdowns
  • Africa Oil – European demand seen higher on crude shortages, high gasoline cracks
  • Egypt’s Sisi pardons 560 prisoners
  • South Africa’s Ramaphosa appoints head of anti-corruption unit
  • IMF: Mozambique debt talks with VTB almost finalised, cyclone hits growth
  • Algeria election may be postponed, protests continue
  • IMF staff agrees to disburse final $2 bln tranche of Egypt loan
  • Acacia Mining says Tanzania mine to be issued environmental protection order
  • Uganda shilling inches up as tax payments help
  • South Africa’s Sibanye wins final go-ahead for Lonmin deal
  • Total CEO says planned buy of Anadarko’s Africa assets ‘perfectly fitting’

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

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