#Africa #Markets | 14 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks sag ahead of China data, Gulf attacks support oil
  • European stocks expected to open slightly higher
  • MSCI Asia-Pacific index dips 0.3%, Nikkei adds 0.3%
  • Market focus on China industrial production, retail sales
  • Caution seen prevailing ahead of Fed’s meeting next week
  • Spot gold near 14-mth highs

Oil Markets

  • Brent oil rises for 2nd day after Middle East tanker attacks
  • Tanker attacks raise threat to supplies from Middle East
  • Brent, WTI still heading for weekly declines
  • OPEC cuts forecast for growth in global oil demand
  • Brent up 0.4% at $61.54 a barrel (0638GMT)
  • WTI down 1 cent at $52.27 a barrel

Precious metals

  • Gold breaks above $1,350 level as growth woes lift safe-haven demand
  • Gold up 1.1% so far this week, set for 4th weekly gain
  • Palladium on track for best week in nearly 9 months
  • Silver hits 1-wk high
  • Spot gold up 1.0% at $1,355.49 per ounce (0749GMT)
  • US gold futures up 1.2% at $1,359.50 an ounce

Grains

  • Corn hits near 4-yr high, set to finish week up 7%
  • Most active CBOT wheat futures up 0.2 pct at $5.36-1/2 per bushel (0103GMT)
  • Most active corn futures up 0.5% at $4.44-1/4 per bushel
  • Most active soy futures up 0.1% at $8.89 per bushel
  • Most active rice futures up 0.2% at $11.67 per hundredweight

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

  • SDGs Implementation in Africa conference in Kigali, Rwanda; Zambia’s Lungu attending (12-14 Jun) #SDGs3YearJourney @SDGCAfrica
  • WHO emergency committee to meet on ebola
  • South Africa’s EFF June 16 lecture on Sunday; Malema keynote speaker
  • AfDB 2019 annual meetings in Malabo, Equatorial Guinea; 11-14 Jun
  • South Africa’s Ramaphosa 3-day cabinet lekgotla; day 3
  • Togo-EU economic forum in Lome; 13-14 Jun
  • South Africa state capture inquiry continues
  • Eisenhower Fellowships Africa regional conference in Kigali, Rwanda; 14-16 Jun. Kagame opening speech
  • 9th AIDS conference in Durban, South Africa; Deputy President Mabuza closing speaker

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

  • Spotlight gives hope to Africa’s hunted albinos
  • South Africa’s rand steady as investors mull developments ahead of long weekend
  • South Africa’s Omnia flags full-year loss
  • Sudan’s military rulers say several coup attempts thwarted
  • Egypt hikes fare on third Cairo metro line
  • Soccer – China beat South Africa to send Germany and France though
  • Egypt condemns attack on oil tankers in Gulf of Oman – foreign ministry
  • Athletics – South Africa’s Semenya denied entry into Rabat 800 metres race
  • Mali president visits Dogon village where dozens killed
  • Sudan military rulers say they rejected proposal from Ethiopia PM to hold negotiations in Addis Ababa
  • Kenya to raise capital gains tax to shore up revenues
  • Sudan officers detained in connection with dispersal of sit-in – military council
  • Family sent back to DR Congo after two die of ebola in Uganda
  • Libya parliament chief allied to Haftar rules out talks before Tripoli captured
  • Algeria ex-PM Sellal arrested over graft allegation – state TV
  • Sudan military council head meets senior US diplomat in Khartoum – statement
  • UN says it confirms 17 deaths in Sudan’s Darfur
  • Ethiopia pursues liberalised telecoms by approving scope of regulator
  • Sudan’s state prosecutors charge Bashir with corruption
  • South Africa – Rand edges down as Ramaphosa, inflation data in focus
  • Libya – Tripoli children struggle to study as war reaches the capital
  • Firm seeks $9 bln Nigeria asset seizure over unpaid gas project arbitration
  • Africa Oil – Angola cargoes clearing on discounts but overhang looms
  • Libya’s NOC says 80 soldiers entered Ras Lanuf terminal, taken over building
  • Tanzania spending to rise 2% to 33.11 tln shillings – finmin
  • Uganda govt spending to rise 23% in 2019/20 – finmin
  • Head of east Libya parliament rules out talks before Tripoli captured
  • South Africa central bank committed to price stability mandate
  • Kenya, Zambia currencies seen easing; Ugandan, Tanzanian firm; in week ahead
  • Rwanda spending to rise 11% in 2019/20 – finmin
  • Blackwater founder expands operations in Congo
  • Algeria police arrest partner of Germany’s VW over corruption allegations – state TV
  • Africa sees increase in foreign investment, buckling global trend
  • Kenya reduces budget deficit for 2019/20 fiscal year – budget
  • Zimbabwe pensioners face delay in payments amid currency row
  • Zambia president threatens to fine miners who break law
  • Mali fires regional governor after attack that killed dozens
  • Uganda shilling firm helped by investor flows
  • South Africa’s Q2 business confidence is unchanged from Q1
  • Tanzania forecasts economic growth of 7.1% in 2019
  • Kenya shilling weakens against the dollar
  • Public gatherings banned in Kasese District in Uganda after ebola outbreak
  • South Africa – Rand slips on investigation into Ramaphosa campaign donation
  • Second ebola patient dies in Uganda – health ministry official
  • Algeria floats idea of larger OPEC+ oil cut, rollover still likely – sources
  • IMF approves disbursement of $248.15 mln under Angola’s credit facility

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

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