By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• European shares gain 0.6% on Trump tariff relief, carmakers shine
• Germany’s DAX outperforms after 1-day holiday
• German carmakers shine; tariff-sensitive auto sector up 1.9%
• Dollar firm near 2-1/2 month lows

Oil Markets

• Oil steadies above $62 as OPEC cuts counter growth concerns
• Russia signals it may support extended supply cut with OPEC
• China stimulus boosts equities, giving oil a lift
• US crude stockpiles expected to fall in weekly reports
• Brent up 1 cent at $62.30 a barrel (0849GMT)
• WTI up 40 cents at $53.66

Precious metals

• Gold draws support from US-China trade worries after sharp sell-off
• “Remain cautiously constructive on gold” – INTL FCStone analyst
• Spot gold up 0.1 pct at $1,328.83 per ounce (0551GMT)
• US gold futures up 0.3 pct at $1,332.90 an ounce

Grains

• Corn prices fall amid better-than-expected US crop condition ratings
• Most active CBOT wheat futures down 0.8 pct at $5.03-1/4 per bushel (0104GMT)
• Most active corn futures down 0.5 pct at $4.31-1/2 per bushel
• Most active soy futures down 0.4 pct at $8.55 per bushel
• Most active rice futures down 0.5 pct at $11.72 per hundredweight

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

• Nigeria presidential election tribunal continues
• Nigeria’s 9^th assembly of Senate & House of Representatives inauguration; election of Senate President & Speaker
• South Africa manufacturing production Apr-19 [fcst. -0.2% yy, prev. 1.2%]
• South Africa state capture inquiry continues
• Rwanda’s Kagame in Gabon; arrived yesterday
• South Africa’s Ramaphosa in Geneva for ILO summit
• AfDB meetings in Malabo, Equatorial Guinea
• Ghana, Ivory Coast to meet cocoa buyers & processors in Accra
• African Construction Expo in Johannesburg, South Africa

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

• 19 killed in attack in northen Burkina Faso – govt
• Kenya shilling under pressure against the dollar
• Uganda critics oppose Nile river power plant plan
• Uganda shilling firms on sag in demand
• Ethiopia forecasts 9% growth, plans higher spending in 2019/2020
• Ethiopia finmin proposes 386.9 bln birr for 2019/2020 budget
• South Africa’s rand recovers as EM demand lifted by Mexico-US deal
• Vedanta to challenge winding up of Zambian business in court
• Sudan opposition says to nominate members of transitional council
• Top US diplomat for Africa to travel to Sudan to urge talks – State Dept
• Sudan’s opposition will propose members of a transitional, prime minister – source
• Senegal justice ministry calls for inquiry into energy contracts
• At least 95 killed in central Mali village attack
• Bharti Airtel to pay Tanzania $26 mln, cancel debt at unit to settle dispute
• Mauritius says economic growth may climb to 4.1 pct in 2020
• Africa Oil – Angolan offered in window
• Africa’s Multichoice warns of swing to full-year loss
• Many women in Morocco face abuse at home, some are now speaking out
• Sudan sit-in bloodshed cripples uprising
• Rwanda re-opens border with Uganda to trucks for 12 days
• Ethiopia delays census again despite looming election
• South African govt sued over coal and industrial air pollution
• Securities trading in South African sugar producer Tongaat suspended
• Sudan deports 3 freed rebel leaders after talks collapse – source
• About 100 Malians killed in attack on Dogon village
• Egypt sells $715 mln in 1-yr dollar T-bills
• eSwatini calls for solar power bids to ease reliance on South Africa’s Eskom
• Kenya Airways aims to double fleet over 5 yrs on path to profit
• South Africa’s opposition party calls for release of report on Ramaphosa
• Egypt headline inflation rises as food costs jump
• Egypt core inflation falls to 7.8% in May – c.bank

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