By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks falter as anxiety grows over second coronavirus wave
- European markets set to open lower
- EUROSTOXX 50 futures off 0.52%
- FTSE futures down 0.22%
- E-mini futures for S&P 500 down 0.68%
Oil Markets
- Oil prices boosted by Saudi Arabia pledge to deepen output cut
- Saudis to cut an extra 1 mln bpd in June
- Stock build key to sustained rally – analysts
- Brent up 0.5% at $29.78 a barrel (0500GMT)
- WTI up 1% at $24.40
Precious metals
- Gold ticks up on fears about second wave of infections
- Spot gold up 0.1% at $1,697.67/oz. (0304GMT)
- US gold futures up 0.2% at $1,701.80/oz.
Grains
- Soybeans inch lower ahead of USDA supply/demand report
- Soybean futures down 0.3% at $8.53-3/4 a bushel (0142GMT)
- Corn up 0.1% at $3.18-3/4 a bushel
- Wheat down 0.6% at $5.16-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa releases latest employment statistics
- Nigeria’s Buhari chief of staff pick awaited
- Key African countries on lockdown or restricted; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- Senegal to re-open mosques, ease restrictions as coronavirus cases jump
- Morocco clears disposable face masks for export
- Algeria starts coronavirus test kits production
- Congo president chief of staff denies graft charges as trial begins
- South Africa Airways rescue team to appeal court ruling on layoffs
- More countries likely to have credit ratings cut – S&P Global
- IMF approves $2.77 bln in emergency pandemic aid for Egypt
- WHO says “extreme vigilance” needed in exit from lockdowns
- Ghana president says one person infected 533 with coronavirus at fish factory
- Subdued EU wheat market awaits Algeria tender, USDA data
- Kenya president purges Senate of deputy’s allies as rift widens
- Grenade blast in Burundi capital injures 12
- Africa Oil – Nigeria offers scarce amid sudden price bounce
- South Africa rand weaker as investors turn gloomy on coronavirus bounce-back
- WHO chief says “slow, steady lifting” of coronavirus lockdowns key
- Lesotho PM Thabane coalition folds, he leaves on May 22
- Immunity from prosecution for Lesotho PM not part of exit deal – party
- South Africa – Johannesburg Stock Exchange offers virus crisis relief
- Mozambique seeks to close state companies behind debt scandal
- Lesotho PM Thabane’s signature is on deal to dissolve govt – Reuters witness
- Emerging economies burn through $240 bln in reserves, drain seen continuing – BofA
- South Africa’s Eskom to fix design flaws at Medupi, Kusile coal plants
- Nigeria to ensure orderly foreign investor exits after oil price clash
- South Africa’s Vodacom reports 8.9% jump in full-year earnings, postpones outlook
- South Africa suspends use of Land Bank debt as collateral after default
- Kenya shilling holds steady against the dollar
- South Africa’s AngloGold Ashanti boosts cash flow despite production loss
- South Africa Life Healthcare scraps dividend, sees earnings hit from covid-19
- Tunisia reports no new coronavirus cases for first time since early March
- South Africa up weekly debt auctions by $109 mln to cover covid-19 stimulus
N.B. Full stories of above headlines are available on Reuters
