By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Stocks, commodities slide as Trump’s trade threats fan recession worries
- S&P 500 futures down 0.5% at 3-mth lows
- European stocks seen falling 0.4-0.7%
- Money market futures price in 50% chance of Fed rate cut by July
- Oil plunge, Shanghai copper at 2-yr low
Oil Markets
- Oil prices fall as trade wars fan fears of economic slowdown
- US petroleum demand is falling – Barclays
- May saw biggest price drop since Nov
- Surging US oil supply also weighs
- Brent down 1.1% at $61.28 per barrel (0659GMT)
- WTI down 0.8% at $53.09 per barrel
Precious metals
- Gold hits 2-mth high as recession concerns burnish safe-haven appeal
- Speculators raise net longs in COMEX gold in week to May 28
- SPDR Gold holdings gain 0.3% on Friday to 743.21 T
- Spot gold up 0.5% at $1,312.37 per ounce (0308GMT)
- US gold futures up 0.5% at $1,317.50 an ounce
Grains
- Wheat rises 1% as heavy rains stoke fears of crop damage
- Most active CBOT wheat futures up 1.0% at $5.08-1/4 per bushel (0207GMT)
- Most active corn futures up 0.2% at $4.27-3/4 per bushel
- Most active soy futures up 0.7% at $8.84 per bushel
- Most active rice futures down 0.5% at $11.40 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Kenya’s Kenyatta attending gender equality conference in Canada; Ethiopia’s Zewde also
- Nigeria high court to hear suit challenging appointment of acting chief justice
- South Africa ABSA manufacturing PMI May-19 [prev. 47.2]
- South Africa state capture inquiry resumes
- South Africa total new vehicle sales May-19 [prev. 36.8K]
- Final day of South Africa’s ruling ANC 3-day lekgotla
Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Sudan protest leader says to step up civil disobedience after “coup”
- South African rand starts week flat amid trade tumult
- Sudan forces storm protest camp, three people dead – medics
- South Africa’s Sasol says 2nd unit at LCCP starts production
- Seperatist conflict in Cameroon traps girls in sex and servitude
- Grave problem: No space for the dead in Zimbabwe’s growing cities
- Nigeria financial watchdog sets up interim management team at oil firm Oando – statement
- Sisi says Egypt will not accept anything against Palestinian wishes
- South Africa Airways CEO quits over lack of state support
- At least 2 migrants die, 25 missing in boat accident off Libyan coast
- Algeria council scraps July 4 presidential election
- Israel’s Delek hopes gas exports to Egypt start in June
- Donors pledge $1.2 bln to rebuild Mozambique after cyclones – UN
- 18 hurt as 2 car blasts target Libya military unit – sources
- Tunisia PM Chahed elected as leader of new secular party
- 11 wounded in Sudan by gunfire near sit-in – opposition committee
- Cameroon state oil refinery declares force majeure after blast
- Kenya to retire old 1,000 shilling banknote to stem illicit flows
- CEO of Nigeria’s Oando gets 5-yr director ban – watchdog
- Morocco to sell up to 8% of Maroc Telecom
- Mozambique says agrees restructuring deal with bondholders
- CEO of Nigeria’s Oando rejects ban imposed by watchdog
- Africa Oil – Offer prices slide on freight cost spike
- Zambia – Production stalled at Vedanta Resources’ Konkola copper mines
- Emerging market stocks see biggest outflows since ‘Taper Tantrum’ – IIF
- Malawi president, at inauguration, pledges to root out corruption
- Kenya court stops abuse of office charge against top judge
- Vedanta seeks international arbitration to settle Zambia dispute
- Zimbabwe says mines can pay for power in foreign currency to secure supply
- Tunisia central bank holds key interest rate unchanged at 7.75 pct
- Young Uganda climate activists join ‘ school strike’ push
- Bravura to spend over $50 mln to explore for platinum in Zimbabwe
- Zimbabwe abstains from external borrowing to build fiscal discipline – IMF
- Zambia’s moves on Vedanta, KCM alarm mining industry
- South Africa posts trade balance deficit in April
- Uganda shilling steady, expected to weaken due to importer demand
- Cape Town targets new air routes to lift South African tourism
- Kenya inflation falls to 5.49% in May
- South Africa budget retailer Mr Price leaves Australia
- Zimbabwe says mines can pay for power in foreign currency to secure supply
- India’s Vedanta says execs unable to visit KCM Zambia operation, engage with management
- South Africa credit demand growth jumps to 7.95 pct in April
- As Zimbabwe’s forests fall, timber shortage tightens screws on carpenters
- South Africa’s budget retailer Mr Price FY earnings rise
- Sudan’s military rulers say protest site threatens stability – TV
N.B. Full stories of above headlines are available on Reuters
