#Africa #Markets | 19 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares pin all on dovish Fed, risk disappointment
  • Asia shares ex-Japan enjoy best day since Jan
  • Much riding on Fed being open to easing, and soon
  • Global bonds rally after Draghi flags stimulus
  • Trump says to meet Xi at G20, trade talks to resume

Oil Markets

  • Oil gains amid US-China trade deal hopes, ECB talk of easing policy
  • Brent up 0.3% at $62.34 a barrel (0644GMT)
  • WTI up 0.4% at $54.10 a barrel

Precious metals

  • Gold inches lower as trade optimism, dovish ECB lift equities
  • Spot gold down 0.1% at $1,344.92 per ounce (0424GMT)
  • US gold futures down 0.2% at $1,348.40 an ounce

Grains

  • Soybeans fall, retreat from more than 3-mth high
  • Most active CBOT wheat futures down 0.8% at $5.27-1/2 per bushel (0124GMT)
  • Most active corn futures down 0.3% at $4.48-1/4 per bushel
  • Most active soy futures down 0.6% at $9.08-1/4 per bushel
  • Most active rice futures down 0.4% at $11.52 per hundredweight

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

  • Zimbabwe AfCFTA consultative forum; 19-20 Jun
  • SWIFT African regional conference in Accra, Ghana; 18-20 Jun
  • US-Africa Business Summit in Maputo, Mozambique; Trump’s ‘Prosper Africa’ to be launched
  • South Africa inflation May-19 [fcst. 4.8% yy, prev. 4.4%]
  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues

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

  • South African rand retreats from 2-wk high, eyes on CPI and Fed
  • ‘Everything is stolen from us’: Tunisians fight to preserve cultural heritage
  • Scandal-hit Steinhoff posts narrow $1.3 bln loss in delayed 2018 results
  • Air strike hits warehouse co-owned by Italy’s ENI in Libya
  • Anadarko approves $20 bln LNG export project in Mozambique
  • Morocco’s Managem increases stake in Guinea’s Tri-K gold project to 85%
  • Survivors recall horror of Congo ethnic attacks
  • Gunmen kill 41 people in central Mali – mayor
  • Athletics – South Africa’s Semenya to chase fast 800m at Prefontaine Classic
  • Nigeria governor says armed robbers, not cash-eating gorilla, stole $22,000
  • Tunisia approves law excluding presidential candidate leading in polls
  • Wood Mackenzie says Anadarko to develop $20 bln Mozambique LNG project
  • New dresses, youth action: ending FGM in Africa
  • Internet blackout hits Ethiopia’s pocket, but not seen deterring telecoms investors
  • Lawmakers propose nationalising loss-making Kenya Airways
  • Uganda clears 3 experimental ebola treatments, watches for spread
  • Algeria army chief says “certain parties” seeking constitutional vaccum
  • Africa Oil – Angola buyers expect August discounts, Nigerian programmes awaited
  • Kenya parliament committee proposes nationalisation of Kenya Airways
  • South Africa rand rallies as Ramaphosa set to give more support for Eskom
  • Morocco central bank leaves benchmark rate at 2.25%
  • Uganda shilling firms as players trim positions
  • Nigeria has no plans to go to eurobond market this year
  • Uganda central bank holds key lending rate at 10%, sees faster GDP growth
  • Egypt plans bond denominated either in yuan or yen or South Korean won – official
  • More than 300k flee Congo violence, complicating ebola fight – UN
  • African survivors of FGM call for help with mental trauma
  • Kenya shilling seen under pressure from excess liquidity

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

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