By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks grapple with trade anxiety even as Huawei gets reprieve
- Asia stocks shaky, MSCI Asia-Pacific index in and out of red
- European stock futures slightly higher in early trade
- Oil dips on US stockpile rise, Saudi assurance on market balance
Oil Markets
- Oil prices drop on swelling US stockpiles, but markets remain tense
- US crude stocks rise by 2.4 mln barrel to 480.2 mln – API
- Saudi Arabia pledges to keep oil markets balanced, sustainable
- Global oil demand growth slows amid trade tensions – BoAML
- But oil markets remain tight
- Brent down 0.5 pct at $71.79 per barrel (0658GMT)
- WTI down 0.9 pct at $62.54 per barrel
Precious metals
- Gold hovers near 2-wk low on strong dollar ahead of Fed minutes
- SPDR Gold holdings rise 0.4% on Tuesday
- Spot gold down 0.1% at $1,273.47 per ounce (0704GMT)
- US gold futures unchanged at $1,273.20 an ounce
Grains
- Corn extends gains into 8th session, near 1-yr peak
- Most active CBOT wheat futures unchanged at $4.78-3/4 per bushel (0016GMT)
- Most active corn futures up about 0.3 pct at $3.95-1/4 per bushel
- Most active soy futures up 0.4 pct at $8.25 per bushel
- Most active rice futures down 0.2 pct at $11.29 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Nigeria’s Buhari to dissolve cabinet
- South Africa’s Ramaphosa & MPs of 6th parliament swearing-in
- South Africa inflation Apr-19 [act. 4.4% yy, fcst. 4.4%, prev. 4.5%]
- Vote-counting of Malawi elections ongoing; results expected on 29 May
- South Africa PIC inquiry continues
- Zambia central bank to decide interest rates [fcst. 9.75%, prev. 9.75%]
- Nigeria presidential election tribunal to hear HDP petition & determine main opposition PDP request for tribunal chair Bulkachuwa to recuse herself
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- South Africa consumer inflation slows to 4.4% in April
- South Africa’s Tiger Brands revenue falls short after challenges at meat unit
- South Africa deputy president will not be sworn-in as MP today
- Ivory Coast sends request for proposal for bond issue
- Acacia says sidelined from Barrick-Tanzania govt tax dispute talks
- South Africa’s Tiger Brands H1 earnings fall 12%
- South Africa’s Sasol increases cost estimate for US chemicals plant around $1 bln
- French EDF Renewables wins tender to build 800MW solar plant in Morocco
- Angola awards fuel tender to Total, Trafigura
- South Africa minister says Mozambique ex-finance minister to be extradited home
- MTN close to paying off 330 bln naira fine in Nigeria – NCC
- With Sudan talks deadlocked, protest group calls strike
- Latest low-fee, digital accounts shake up South African banking
- Former Sudan intelligence chief’s guards block his arrest – prosecutors
- French widow sues Boeing for at least $276 mln over Ethiopian crash
- Africa Oil – Sonangol said to finalise July term allocations
- Vedanta, KCM seek urgent Zambia talks, court appoints liquidator
- Countries fueling Libya conflict must be stopped – UN envoy
- Tanzania says to start cancelling inactive mining licenses
- Egypt security forces kill 16 suspected militants in Sinai
- Egypt govt debt surges in 2018
- Zimbabwe hikes fuel prices again; new currency slides
- Tunisia court temporarily releases UN official after 2-mth detention
- Zimbabwe’s small businesses reel from power cuts
- Nigeria central bank holds benchmark interest rate at 13.5 pct
- Zimbabwe’s new currency drops 31% after fuel subsidy ended – traders
- Zimbabwe hikes diesel, petrol prices by up to 47% – energy regulator
- Egypt to raise power prices by 14.9% for FY 2019-2020 – minister
- Yields mostly lower in South Africa govt bond auction
- Malawians vote in tough election for President Mutharika
- Zambia court appoints provisional liquidator of Vedanta’s Konkola copper mines
- Nigeria’s Trans Forcados pipeline remains closed after fire
- Libya’s NOC concerned about theft and lawlessness affecting oil industry
- Water supplies restored to besieged Libya capital
- Kenya shilling holds steady, expected to firm due to remittances
- ARM Cement’s Kenyan assets sold for $50 mln – statement
N.B. Full stories of above headlines are available on Reuters
