By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks gain on economic hopes, but Hong Kong risk clouds outlook
- Shares gain in Australia and Japan
- Investors bet on economic recovery
- Hong Kong remains a risk
Oil Markets
- Oil drops as surprise US stock build douses demand recovery hopes
- Brent down 3.2% at $33.64 a barrel (0402GMT)
- WTI down 4.4% at $31.37
Precious metals
- Gold prices edge up as Hong Kong dispute riles China-US ties
- SPDR gold holdings rise 0.2% on Wednesday
- Spot gold up 0.2% at $1,712.39/oz. (0315GMT)
- US gold futures flat at $1,711.40/oz.
Grains
- Soybeans extend gains for third session, hit 2-wk high
- Soybean futures up 0.3% at $8.50-3/4 a bushel (0157GMT)
- Corn up 0.2% at $3.21 a bushel
- Wheat up 0.2% at $5.05-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Central Bank of Nigeria decides interest rates [fcst. 13.0%, prev. 13.5%]
- Kenya’s Kenyatta chairs ruling Jubilee meeting with top executives
- Central Bank of Kenya’s Njoroge post-MPC press briefing
- Nigeria MPs debate revised 2020 budget
- South Africa publishes covid level 3 alert regulations, briefs press
- South Africa EFF’s Malema briefs press
- South Africa producer inflation Apr-20 [fcst. 3.6% yy, prev. 4.5%]
- 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
- Libya losses from oil blockade almost $5 billion – NOC statement
- Migrants stuck on merchant ship disembark in Liby – IOM
- US military says Russia flew 14 MiG 29s and Su-24s to Libya
- Burkina prosecutor says cause of death of 12 detainees unclear
- Zambia picks French firm Lazard Freres as debt advisers
- Sudan says 3 jailed members of ousted Bashir regime have coronavirus
- South Africa Eskom sees lower risk of power cuts during winter
- South Africa PSG Group to offload 28.11% stake in Capitec to shareholders
- South Africa Airways can still be saved with funding – adminstrators
- Zimbabwe coronavirus cases double in a day to 132 – govt
- Russia says postpones July BRICS summit due to coronavirus
- Rwanda genocide suspect Kabuga denounces charges as “lies”
- South Africa plans $20.5 bln of public works to spur economy – ANC official
- Forty villagers killed in massacre in northeast Congo
- Namibia economy expected to contract by 6.6% in 2020
- Africa Oil – European demand for new crude shipment still dormant
- South Africa Eskom lost 16 bln rand in 2019/20 – treasury
- South Africa rand falls as Sino-US friction dents risk appetite
- West Africa food trade under strain as covid-19 shuts borders
- French court rejects request to release Rwanda genocide suspect Kabuga
- South Africa appoints new CEO at state asset manager PIC
- Protesters calling for jobs halt Tunisia phosphate output
- Kenya central bank leaves rates unchanged at 7%, says past measures are being helpful
- South Africa mines record 320 covid-19, minister says
- Niger lost $120 mln in arms deals over three years – govt audit
- Rwanda genocide suspect Kabuga denounces charges as “lies”
- Zambia 2020 maize output forecast at 3.387 mln tonnes – minister
- Carlyle’s Africa dealmakers leave to start their own buyout firm
- Nigeria military unlawfully detain children at rehabiliation centre for militants – Amnesty
- Ivory Coast issues domestic bonds worth 110 bln CFA Francs
- “No masks, no gloves”: Kenya govt under fire over quarantine centres
- Electric motorbike gives women in rural Zimbabwe a path out of poverty
- Kenya rolls out testing in Nairobi slums, but some fear stigma
- South Africa Woolworths scraps dividend, reviews Australasian real estate assets
- South Africa central bank says lenders can handle coronavirus crisis
- Uganda shilling flat, to firm on month-end commodity and charity flows
- Egypt Air to pay 75% of flight crew salaries in pounds temporarily
- Cameras roll again in Nollywookd but Nigeria cinemas still dark
- Kenya shilling weakens a notch on end-mth importer demand
- Zimbabwe gold miners to keep more export earnings in dollars
- South Africa Pepkor may scrap dividend as pandemic squeezes retail spending
- Administrators for South Africa airline not aiming to resume domestic flights mid-June
N.B. Full stories of above headlines are available on Reuters