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 9th 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
