By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asia stocks flat, euro holds firm after fragmented Europe vote
- Pro-Europe vote limits nationalist gains in EU election
- Volumes thin with UK, US markets closed for market holidays
Oil Markets
- Oil under pressure as US-China trade war weighs, but OPEC cuts still support
- Speculators cut long positions in crude
- But OPEC’s supply cuts still provide crude with support
- Brent up 4 cents at $68.73 per barrel (0412GMT)
- WTI down 21 cents at $58.42 per barrel
Precious metals
- Gold gains on simmering US-China trade spat
- Money managers cut net longs in gold in week to May 21 – CFTC
- Gold may retest resistance at $1,290 – analyst
- Spot gold up 0.2 pct at $1,287.03 per ounce (0455GMT)
- US gold futures up 0.2 pct at $1,286.50 an ounce
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Ghana central bank MPC to decide interest rates [fcst. 16.0%, prev. 16.0%]
- Kenya central bank MPC to decide interest rates [fcst. 9.0%, prev. 9.0%]
- Nigeria’s Buhari to sign 2019 budget into law
- South Africa state capture inquiry resumes
- South Africa PIC inquiry resumes
- South Africa’s Mpumalanga & Northwest provinces to inaugurate premiers
- Kenya court to rule on housing levy case
Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- South Africa’s rand steady, focus on cabinet appointments
- South Africa’s Telkom cuts 13% jobs despite FY profit surge
- Algeria to block Total from buying Anadarko’s Algerian assets – minister
- Head of Sudan’s military council meets Abu Dhabi crown prince
- South African carbon tax finally becomes law
- Algeria prosecutor refers former PMs to supreme court over alleged corruption – state TV
- Libya’s Haftar rules out Tripoli ceasefire, dismisses UN-led talks – newspaper
- Egypt buys 2.7 mln tonnes of local wheat so far this season – state newspaper
- Sudan military chief meets Egypt’s Sisi on first trip since Bashir ouster
- Botswana cancels 100MW solar power tender, plans to reissue
- Malawi election results delayed after injunction over alleged irregularities
- Uganda protests Rwanda military incursion on its territory
- Former Botswana president quits ruling party in row with ex-ally
- S&P keeps South Africa in ‘junk’ status, sees post-election reforms
- Promising jobs and justice, Ramaphosa sworn in as South Africa’s president
- MTN Nigeria listing being investigated by Nigerian financial crimes agency
- South African govt withdraws sulphur dioxide emissions changes ahead of carbon tax
- Soccer – Advantage Esperance in African chamipions league final
- Sudan protest groups calls for strike starting next Tuesday
- CEO of Kenya Airways resigns, to leave at year end – internal memo
- South Africa’s Eskom CEO resigns for health reasons
- Barrick’s offer for Acacia Mining reflects Tanzania risks – CEO
- Field for Nigeria’s Amenam oil exports slow resuming – Total
- Nigeria’s Trans Forcados oil pipeline resumes operations – source
- Africa Oil – Diffs remain firm, tenders dominate
- Thousands of Algerian protesters demand reforms, presidential vote delay
- Soccer – FIFA bans former South Sudan FA chief Alei for 10 years
- Russia to send military specialists to Congo Republic – Kremlin
- Vedanta’s Zambia liquidation case adjourned until June 4
- Mali offical gold exports increase 15% in 2018 to over 61 T
- Kenya shilling holds steady against the dollar
- Europeans and Egypt send air support as Israel battles wildfires
- Kenya’s National Cement to invest $36 mln after buying ARM assets
- Vedanta – Konkola liquidation case adjourned – lawyer
- Libya’s NOC says plans to develop North Hamada oilfield
- South Africa’s Old Mutual suspends CEO after ‘breakdown in trust’
- Rockets hit hotel in Libyan capital
- Libya coast guard rescues 290 migrants off eastern coast of Tripoli
N.B. Full stories of above headlines are available on Reuters
