#Africa #Markets | 4 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares fall as weak data inflames growth fears
  • MSCI Asia ex-Japan -0.3%
  • China blue-chips down 1.2%

Oil Markets

  • Oil prices fall amid economic slowdown despite ongoing OPEC supply cuts
  • Analysts say economic slowdown starting to hit oil demand
  • Saudi Arabia sees consensus on extending supply cuts
  • Brent down 0.7 pct at $60.88 per barrel (0038GMT)
  • WTI down 0.6 pct at $52.94 per barrel

Precious metals

  • Gold holds near 3-mth peak as trade fears boost safe-haven demand
  • Spot gold up 0.1 pct at $1,326.49 per ounce (0136GMT)
  • US gold futures up 0.3 pct at $1,332.20 an ounce

Grains

  • Corn jumps 2% as US govt confirms planting delays
  • Most active CBOT wheat futures up 0.7 pct at $5.23-1/2 per bushel (0018GMT)
  • Most active corn futures up 2.3 pct at $4.34 per bushel
  • Most active soy futures up 1.1 pct at $8.89 per bushel
  • Most active rice futures down 0.3 pct at $11.67 per hundredweight

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

  • Kenya’s Kenyatta & Ethiopia’s Zewde attending Women Deliver conference in Canada
  • South Africa GDP Q1-2019 [fcst. -0.8% qq saa, prev. 1.4%]
  • South Africa’s ruling ANC to hold post-NEC lekgotla press conference
  • South Africa state capture inquiry continues

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

  • Sudan’s military scraps deal with protest groups, calls for elections within 9 mths
  • Airtel Africa to file for London IPO
  • Sudan forces storm protest camp, more than 35 people killed
  • Senegal’s opposition calls for inquiry on BP gas deal
  • Nigeria court blocks watchdog from replacing boss of oil firm Oando – document
  • Spain urges more EU aid to help Morocco tackle migration
  • Sudan public prosecutor to investigate violence at protest site – SUNA
  • Morocco’s trade deficit widens 5 pct y/y in Jan-Apr
  • UN chief condemns violence against civilians in Sudan
  • Athletics – South Africa’s Semenya free to run without medication while appeal is heard – court
  • South African rand firms on weaker dollar, focus on GDP numbers, stocks up
  • Africa Oil – Price offerings marked down further, interest perks up
  • Zambia starts electricity rationing for non-mining industry
  • UK foreign minister condemns Sudan sit-in dispersal
  • BP agrees to sell Egypt oil assets to Dubai’s Dragon Oil
  • South Africa’s Shoprite halts deal that would cut chairman’s voting influence
  • IMF urges South Africa to speed up reforms to boost growth
  • ArcelorMittal’s South Africa unit to face emissions charges
  • Egypt May net foreign reserves rise to $44.27 bln – central bank
  • Kenya’s central banker warns about impact of illicit flows
  • Zimbabwe’s mineral-backed loans may complicate talks with creditors, IMF says
  • Angola, Eni make new offshore oil discovery – state news agency
  • Sudan opposition says halting all contact with military council
  • Egypt to auction $715 mln in 1-yr dollar t-bills
  • China demand for Angola crude oil stalls as buyers hold out for lower prices
  • South Africa Absa pmi drops in May
  • Kenya shilling steady against the dollar
  • Sudan military council says criminals, not protesters, targeted, talks to resume soon
  • Sudan protest leader says to step up civil disobedience after “coup”
  • South Africa’s Sasol says 2nd unit at LCCP starts production

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

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