#Africa #Markets | 21 May

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks off 4-mth lows, but Huawei row weighs
  • Asian shares hobbled by US-China tech battle
  • Spreadbetters expect firmer open for European stocks
  • Fed’s Powell dismisses concerns about rising debt levels
  • Chip-related shares under pressure

Oil Markets

  • Oil rises on US-Iran tensions, but trade war concerns weigh
  • Trump threatens Iran with “great force”
  • OPEC expected to continue supply cuts into H2 2019
  • Brent up 0.4 pct at $72.24 per barrel (0534GMT)
  • WTI up 0.4 pct at $63.36 a barrel

Precious metals

  • Gold eases as dollar steals safe-haven thunder
  • Spot gold down 0.1 pct at $1,276.02 per ounce (0106GMT)
  • US gold futures down 0.1 pct at $1,276.10 per ounce

Grains

  • Corn hits near 1-yr high on slow US planting pace
  • Most active CBOT wheat futures up 1.2 pct at $4.83-3/4 per bushel (0057GMT)
  • Most active corn futures up 1.2 pct at $3.93-3/4 per bushel
  • Most active soy futures up 0.8 pct at $8.38 per bushel
  • Most active rice futures unchanged at $11.23 per hundredweight

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

  • Malawi elections; #MalawiDecides2019
  • Ghana CEO summit in Accra; day 2
  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues
  • UK-West Africa Agritech summit in Nigeria
  • Nigeria’s Buhari expected back to Abuja from Saudi Arabia

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

  • Malawians vote in tough election for President Mutharika
  • Talks on Sudan’s political transition fail to produce deal for second day
  • Ex-Credit Suisse banker pleads guilty to US charge over Mozambique loan
  • Athletics – South Africa’s Semenya to contest 3,000-metres at Prefontaine Classic
  • Libyan gunmen halt water pipeline to besieged Tripoli
  • Soccer-Ghana striker Gyan calls time on international career
  • Egypt’s prosecutor orders release of seven opposition figures – source
  • Zimbabwe scraps official parity for fuel imports
  • Congo Republic senate approves restructuring of China debt
  • Kenya suspends gambling ad ban after musician complains
  • Egypt women use ancient Indonesian martial arts to fight abuse
  • Lawyers for South Africa’s Zuma tell court he is being treated unfairly
  • Zambia seeks ‘divorce’ from Vedanta over alleged mining breaches
  • Africa Oil – Flurry of tenders as Nigerian programmes emerge
  • Schoolgirls used as human shields in Congo due to ‘magical powers’ – charities
  • Kenya banks to test mobile lending app to ease SME squeeze
  • Somalia passes petroleum law, paving way for exploration
  • Algeria’s army chief says elections are best way out of crisis
  • Coca-Cola ends plan to refranchise Africa bottling unit, keeps majority stake
  • South Africa’s Amplats fires over 600 underground workers at its Mototolo mine
  • Zambia’s Lungu seeks new investor in Vedanta-controlled copper mine
  • Ethiopia starts rationing electricity for homes and industries
  • Uganda shilling unchanged on lacklustre importer appetite
  • South Africa’s Aspen sells Australian prescription portfolio to Mylan
  • Tanzania’s fines Acacia Mining $2.4 mln over alleged pollution
  • Nigeria’s economic growth slows in Q1 as oil sector shrinks
  • 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%
  • Sudan military and opposition resume talks after street violence

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

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