By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asia stocks reach 3-mth peaks, resilient to US riots
• Asia markets swing higher, Nikkei at 3-mth peak
• China surveys show growth at home, subdued exports
• S&P 500 futures bounce, though riots add to economic woe
• Busy week sees ECB meet, US payrolls report

Oil Markets

• Oil prices edge down as wary traders eye upcoming OPEC+ meeting
• Algeria suggest bringing forward OPEC+ meeting to June 4
• Saudi Arabia proposes extending cuts until year-end – sources
• Brent down 0.4% at $37.69 a barrel (0419GMT)
• WTI down 0.4% at $35.36

Precious metals

• Gold climbs as US riots spark safe-haven rush
• Spot gold up 0.8% at $1,739.75/oz. (0242GMT)
• US gold futures up 0.1% at $1,752.60/oz.

Grains

• Corn falls on concerns China could reduce US purchases
• Corn futures down 0.2% at $3.25-1/4 a bushel (0116GMT)
• Soybeans up 0.3% at $8.43-1/4 a bushel
• Wheat down 0.8% at $5.16-1/4 a bushel

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

• Madaraka Day in Kenya; public holiday
• South Africa allows domestic air travel for business
• South Africa ministers’ briefing on covid-19 level 3 alert regulations
• South Africa ABSA manufacturing PMI May-20 [prev. 46.1]
• South Africa consumer confidence Q2-20 [prev. -9]
• Key African countries on lockdown or restricted; subdued economic activity
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today

• Egypt tweaks curfew hours as coronavirus cases surge
• Armed bandits kill at least 18 in Nigeria’s Katsina state
• Civilians killed as park hit by shelling in Libya capital
• Algeria suggests bringing forward OPEC+ meeting to June 4 – letter
• Botswana to help repatriate citizens stranded abroad
• Coronavirus cases in South Africa pass 30,000, says minister
• South Africa to allow domestic air travel for business from June 1
• Algeria’s Sonatrach becomes majority shareholder in Medgaz pipeline
• Congo suspends board and management of state diamond miner MIBA
• Russia denies US claim that Libya banknotes seized in Malta are counterfeit
• Sudan summons Ethiopia envoy over suspected cross-border attack
• Attack in northern Burkina Faso kills at least 15
• Morocco’s BCP Bank posts 39% decline in first-quarter net profit
• US considers sending ‘training’ unit to Tunisia amid North Africa tensions
• Rwanda medical workers deploy robots to minimise coroanvirus risk
• US warns of Russia bid for Libya stronghold after warplane delivery
• Egypt confirms new daily record of 1,289 new coronavirus cases
• Ethiopia security forces accused of 39 extrajudicial killings
• Tullow Oil says 58 workers test positive for covid-19 offshore Ghana
• Coronavirus-induced border bottlenecks slow food deliveries in East Africa
• Lesotho appeal courts revokes bail granted to former leader’s wife
• Bangladeshis killed in Libya were abducted and tortured, Foreign Ministry says
• South Africa tobacco firms, associations seek court action over cigarette sales
• eSwatini’s economy forecast to shrink 6.7% due to coronavirus
• Children of Rwanda genocide suspect Kabuga fear for father’s life
• Africa Oil – Heavier oils stay strong on Chinese demand
• South Africa has backlog of over 96,000 coroanvirus tests
• Turkey says may begin oil exploration under Libya deal in 3-4 months
• Mauritius economy to contract sharply by 7.5% – 15% in 2020 due to virus, says bank governor
• South Africa unions tell teachers to defy govt, stay away form school
• Nigeria 5-yr bond yield sheds 200 bps after surprise rate cut – traders
• South Africa Capitec Bank flags 20% fall in half-year profit, shares down 6%
• Ghana’s industrial gold output rose 6% in 2019
• Somalia commission to probe killin of seven health workers
• South Africa trade balance swings to 35 bln rand deficit in April
• Tanzania court finds opposition leader guilty of sedition, sets him free
• Russia says Libya ceasefire in tatters, situation deteriorating – agencies
• Kenya inflation at 5.47% in May
• Ethiopia passes supplementary budget to help absorb virus impact
• South Africa Airways adminstrators seek more time for rescue plan
• South Africa’s Tsogo Sun Hotels core profit hit by travel restrictions
• Kenya shilling firms on tight liquidity conditions
• Investment arm of South Africa retailer Steinhoff warns of soft consumer demand
• South Africa credit growth slows to 7.37% y/y in April
• Fears for Kenya’s urban food supply as floods drown rice

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