By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- US stock futures, Chinese shares slip amid Sino-US tensions, oil falters
- China shares fall after reopening from long break
- Japanese markets closed for public holiday
- Oil ends multi-day winning streak
Oil Markets
- Oil prices fall as rising US inventories reassert supply concerns
- Brent flat at $30.97 a barrel (0201GMT)
- WTI down 14 cents at $24.41
Precious metals
- Gold inches down as easing virus-led curbs buoy equities
- Spot gold down 0.1% at $1,704.88/oz. (0119GMT)
- US gold futures up 0.2% at $1,713/oz.
Grains
- Soybeans climb for 2nd day on China buys; corn gains
- Soybean futures up 0.1% at $8.40-1/4 a bushel (0015GMT)
- Corn up 0.2% at $3.17-1/2 a bushel
- Wheat down 0.4% at $5.18-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Kenya Finance Bill 2020 to be read in parliament for the first time
- South Africa Standard Bank PMI Apr-20 [prev. 44.5]
- Nigeria Stanbic IBTC PMI apr-20 [prev. 53.8]
- Kenya, Ghana & other Africa PMIs expected
- Nigeria’s Buhari chief of staff pick awaited
- Key African countries on lockdown; subdued economic activity
- Covid-19 updates by authorities across the continent
- [South Africa’s Zuma trial scheduled for today postponed to 23 June]
Key African events or data releases yesterday & early a.m today
- Two killed in Liberia gold mine collapse
- Ethiopia Tigray region eyes election in challenge to national unity
- Tunisia banks lend govt foreign currency to tackle coronavirus
- South Africa rand recovers in global emerging market bounce
- Nigeria’s FCMB targets loan growth of 10-14% this year
- Nigeria to use $311 mln of Abacha assets to fund infrastructure
- Ivory Coast PM to spend weeks in France on medical rest after heart exam
- South Africa airline Comair files for business rescue
- Africa Oil – Nigeria differentials edge up from historic low
- Nigeria’s FCMB sees coronavirus driving credit growth for healthy companies
- Total told it cannot acquire Anadarko Algeria assets
- Nigeria oil bid rounds, upstream projects delayed due to price crash – officials
- WHO urges countries to investigate early covid-19 cases
- Nigeria govt expects economy to contract by 3.4% in 2020
- Nigeria stocks post biggest rise in 3-mths after lockdown is phased out
- No “substantive” Nigeria oilfield bid rounds until prices recover – NNPC
- Egypt TV show aired during Ramadan under fire for insulting women
- Nigeria stocks rise to 8-wk high after lockdown is phased out
- Nigeria in talks to defer debt service obligations to “2021 and beyond” – finmin
- Liberia ministry says two killed in mine collapse, local mayor fears scores more dead
- Morocco medics isolated from families have lonely Ramadan
- Nigeria amending 2020 budget assuming oil at $20 per barrel – finmin
- Egypt 2020/21 budget deficit could widen to 7.8% of GDP due to coronavirus
- Kenya urges Somalia to speedily investigate fatal plane crash
- Nigeria naira firms on black market after central bank resumes FX sales
- South Africa revenue shortfall to reach $15 bln due to coronavirus – tax commissioner
- Kenya shilling strengthens against the dollar
- Uganda starts easing one of Africa’s strictest lockdowns
- South Africa’s Amplats completes repair to processing plant unit after blast
- Egypt non-oil business collapses as coronavirus hits activity – PMI
N.B. Full stories of above headlines are available on Reuters