#Africa #Markets | 17 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares wobble amid trade, geopolitical tensions; focus on Fed meeting
  • European shares seen opening higher
  • Dollar index holds near 2-wk high after solid US retail data
  • Investors await upcoming FOMC: BoJ, BoE also meet this week
  • Bitcoin jumps to 13-mth high

Oil Markets

  • Oil prices climb after tanker attacks stoke Middle East tensions
  • Brent up by 0.2%, WTI gains 3 cents
  • Pompeo says all options available on tanker issue
  • Brent up 14 cents at $62.15 a barrel (0645GMT)
  • WTI up 3 cents at $52.54 a barrel

Precious metals

  • Gold prices subdued on firmer dollar; Fed meeting in focus
  • SPDR Gold holdings rise 0.6% on Friday
  • Spot gold down 0.2% at $1,338.86 per ounce (0549GMT)
  • US gold futures down 0.2% at $1,343.90 an ounce

Grains

  • Corn jumps 2% to hit 5-yr high on crop uncertainty
  • Most active CBOT wheat futures up 0.5% at $5.41-1/4 per bushel (0029GMT)
  • Most active corn futures up 2.2% at $4.62-3/4 per bushel
  • Most active soy futures up 1.2% at $9.07-1/2 per bushel
  • Most active rice futures down 0.3% at $11.61 per hundredweight

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

  • South Africa youth day; public holiday
  • US-Africa Business Summit in Maputo, Mozambique; 18-21 Jun [Trump’s “Prosper Africa” initiative to be launched]
  • South Africa state capture inquiry & PIC inquiry resume tomorrow; 18 Jun

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

  • Airtel Africa expects London IPO to be priced between 80-100 pence share
  • In Algeria, conservatives weigh in against pressure for Western-style democracy
  • Cairo’s “mother of Egyptian musuems” set for revamp
  • Egypt in $500 mln settlement with Israel Electric Corp – statement
  • Sudan’s Bashir charged with corruption, in 1st appearance since April
  • Egypt’s state-owned Banque du Caire net profit surges
  • Former Algerian officials questioned over corruption – TV
  • Four Cameroon police killed by suspected seperatist bomb – govt
  • Armed gang kills at least 34 in northwest Nigeria, police say
  • South Africa youth unemployment a “national crisis” – president
  • French, Malian forces kill 20 militants in operation – Mali army
  • Algeria partner of Germany’s VW questioned in corruption case – state TV
  • Saudi energy minister hopes OPEC agrees to extend production cut “early July”
  • Ousted Sudan president to be sent for trial soon, prosecutor says
  • Morocco’s sale of 8% stake in Maroc Telecom to pump $920 mln into state budget
  • WHO panel decides not to declare international ebola emergency
  • Libya-Norway fertilizer venture to restart operations shortly – NOC
  • Senegal police detain protesters amid outcry over gas deal
  • Distrust between Sudan parties makes direct talks impossible – US official
  • Nigeria to shut bank accounts of firms which import FX restricted goods
  • Investors that don’t pay taxes should be kicked out of Zambia – Lungu
  • Africa Crude – Some July Angolan clears in spot activity
  • Celebrating arrests, but still pushing for change, protesters rally in Algeria
  • Ghana, Ivory Coast cocoa floor price seen as small step toward ending child labour
  • Uganda shilling unchanged as appetite slows
  • South Africa AMCU union seeks $1,145 monthly basic wage in pay talks
  • Kenya shilling weakens against the dollar
  • Spotlight gives hope to Africa’s hunted albinos
  • South Africa’s Omnia flags full-year loss

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

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