By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- China gains, auto sector lift Asian shares, but sentiment fragile
- MSCI Asia ex-Japan +0.38%, Nikkei +0.37%
- European markets seen opening higher
- Analysts see widespread uncertainty, continued risk aversion
- Brent crude wavers around $70 per barrel
Oil Markets
- Brent oil rises above $70 as OPEC cuts
- US sanctions outweigh trade war worries
- OPEC has been leading production cuts since start of year
- US sanctions Iran, Venezuela have also tightened supply
- But economic slowdown amid trade war keeps markets on edge
- Brent up 0.2 pct at $70.24 per barrel (0602GMT)
- WTI up 1.1 pct at $59.26 per barrel
Precious metals
- Gold eases as dollar bounces back from multi-week lows
- Spot gold off 1-wk high hit in previous session
- Spot gold down 0.1 pct at $1,283.38 per ounce (0531GMT)
- US gold futures down 0.1 pct at $1,282.70 an ounce
Grains
- Corn climbs to near 2-yr high on US planting delays
- Most active CBOT wheat futures up 2.4 pct at $5.01-1/4 per bushel (0626GMT)
- Most active corn futures up 2.4 pct at $4.13-3/4 per bushel
- Most active soy futures up 1.8 pct at $8.44-1/2 per bushel
- Most active rice futures up 0.5 pct at $11.61 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- South Africa’s Mabuza to be sworn-in as MP; signalling he may remain deputy president
- Tanzania’s Magufuli in Namibia on state visit
- Mombasa governor Joho to appear before Kenyan Senate public accounts and investments committee
- Sudan workers’ strike
- South Africa state capture inquiry continues
- South Africa PIC inquiry continues
- 1st UN Habitat assembly in Kenya; 27-31 May
- Nigeria’s Buhari cabinet to dissolve automatically today; new government tomorrow (29 May)
- Kenya’s central bank MPC press conference
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 MTN to sell interest in Amadeus to HarbourVest for $83 mln
- South African deputy president to be sworn-in as lawmaker after delay
- Kenya engages World Bank for $750 mln loan for budget support
- Egypt security forces commit war crimes in Sinai – HRW
- Sudan opposition pushes ahead with 2-day strike from Tuesday
- Russia’s VTB considers selling stake in its Angolan unit
- Gambia sentences former soldiers over coup plot
- South Africa’s rand drifts weaker on cabinet caution, stocks flat
- Ex-jail head accused of torture deported to Ethiopia
- Malawi’s Mutharika narrowly wins presidential race with 38.57% of the vote
- At least nine illegal Zimbabwean miners die after mine collapse
- Malawi to release presidential poll results after court lifts injunction
- Algeria discovers new gas field in southwest
- Mali to suspend gold dredging and panning for environmental reasons
- Kenya central bank holds main lending rate, eyes on inflation
- Zimbabwe presses exporters, power utility as economic crisis mounts
- Algeria to seek “good compromise” over Total’s Anadarko deal – minister
- Zimbabwe exporters keeping $900 mln in offshore banks – treasury official
- Nigeria president signs $29 bln 2019 budget into law
- Uganda shilling steady, inflows from charities to offer support
- Vedanta CEO open to dialogue with Zambia
- South Africa’s Telkom cuts 12.5% jobs, mobile boosts profit
- Kenya shilling holds steady
- Activists sue Bollore over conditions at Cameroon palm oil plantation
N.B. Full stories of above headlines are available on Reuters
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