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 2^nd 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