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