#Africa #Markets | 18 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks edge up cautiously as Fed jitters build, Europe seen lower
  • Asian markets edge up, European futures point to mixed open
  • Stocks kept in range before Fed’s 2-day policy meeting
  • Oil extends fall, growth woes outweigh Middle East concerns

Oil Markets

  • Oil prices fall for second day on economic growth worries
  • Oil markets have fallen around 20% since 2019 highs
  • But Middle East tensions supporting prices
  • Brent down 0.3% at $60.75 a barrel (0320GMT)
  • WTI down 0.3% at $51.76 a barrel

Precious metals

  • Gold holds steady ahead of Fed meeting
  • Spot gold steady at $1,340.51 an ounce (0126GMT)
  • US gold futures unchanged at $1,343 an ounce


  • Soybean prices climb nearly 1%, hit more than 3-mth high
  • Most active CBOT soybean futures up 0.7% at $9.19 a bushel (0045GMT)
  • Most active corn futures down 0.4% at $4.53 a bushel
  • Most active wheat futures down 1% at $5.34-1/2 a bushel

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

  • 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
  • ECOWAS finance ministers and cenbank chiefs meet on single currency in Abidjan, Ivory Coast
  • Uganda central bank MPC decision [fcst. 10.0%, prev. 10.0%]
  • Equatorial Guinea’s Obiang in Addis Ababa, Ethiopia as AU’s 2019 refugees & IDPs theme champion
  • South Africa’s Maimane press conference on state of DA-led governments
  • 5th annual meeting of the ID4Africa Movement in Johannesburg, South Africa; 18-20 Jun

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

  • Former Egypt president Mursi buried in Cairo, son says
  • Former Egypt president Mursi died from a heart attack – state TV
  • Egypt authorities refuse Mursi’s burial in family cemetery – son
  • Triple suicide attack kills at least 30 in northeast Nigeria
  • Amnesty International urges fair Egypt inquiry into Mursi’s death
  • Oil production at Libya’s Jalu field halted for maintenance – NOC
  • Muslim Brotherhood says Mursi death was “full-fledged murder”, calls for mass funeral in Egypt
  • Egypt prosecutor: Mursi collapsed in cage in court, no sign of injury
  • Algeria partner of Germany’s VW held over graft allegations – state TV
  • Africa Oil – Angola programme appears, some Nigerian sellers bullish
  • Zambia’s Mopani Copper Mines shuts down smelter
  • Ethiopia to split state telecoms provider into two before privatisation
  • Prince Harry backs mine clearance in Angola, following in Diana’s footsteps
  • Congo court upholds suspension of Vodacom’s 2G licence
  • Mozambique says 2 border police killed in shooting incident
  • Egypt’s Tourah Cement stops production due to oversupply
  • Chad opposition leader arrested in France on crime against humanity charges
  • At least 161 dead in northeast Congo in apparent ethnic clashes
  • Nigeria consumer inflation edges up to 11.4% in May – stats office
  • Kenya parliament will block repeal of rate cap, lawmaker says
  • Kenya shilling weakens on excess money market liquidity
  • Zimbabwe inflation soars to 10-yr high of 97.85% y/y in May
  • Airtel Africa expects London IPO to be priced between 80-100 pence share

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

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