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

Global Markets

• Stocks stutter as second wave virus fears test recovery hopes
• Investors worry about second wave of covid
• Oil prices support energy-related shares
• Dollar benefits as safe haven currency

Oil Markets

• Oil prices inch up on faith in supply cuts, demand recovery
• Brent up 0.2% at $41.58 a barrel (0101GMT)
• WTI up 0.4% at $38.98

Precious metals

• Gold ticks higher on virus fears; firm dollar caps gains
• Spot gold up 0.1% at $1,724.91/oz. (0253GMT)
• US gold futures up 0.2% at $1,733.90/oz.

Grains

• Wheat lingers near 8-mth low, set to finish week down 4%
• Wheat futures down almost 4% for the week
• Soybeans up 0.1% for the week
• Corn down 0.5% for the week

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

• South Africa briefing on new covid alert level 3 measures expected
• Africa innovation & investment forum 2020; 15-19 Jun
• 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

• Egypt surpasses 50,000 confirmed coronavirus cases
• Ethiopia dam talks stall with proposal for mediation by PMs
• Barrick Gold alerts authorities after fake news release claims it sold [Zambia] Lumwana mine
• After second round of voting, Kenya wins spot on UN security council
• South Africa’s Naspers says earnings for year end March to fall 10-16%
• At least 13 killed in landslide in Ivory Coast’s main city
• Algeria in talks with Desertec over solar power projects
• Mozambique court jails police officers for murder of election observer
• Sudan approves plan to liquidate, privatise state firms
• Africa Oil – Chinese buying abating, unlikely to rebound quickly
• South Africa’s rand, stocks slide as second wave coronavirus fears resurface
• Nigeria president rebukes security chiefs over worsening violence
• Kenya president says talks on trade deal with US delayed
• Russia aircraft active in Libya, AFRICOM says
• Iraq tells OPEC+ it will compensate for high May oil production
• Burundi incoming president vos to unite nation isolated over rights abuses
• South Africa retailer TFG looks to raise $229 mln via rights issue
• ArcelorMittal South Africa plans job cuts following pandemic hit
• China’s Shandong Gold to buy Ghana-focused Cardinal Resources for $221 mln
• Suspects accused of huge South Africa bank theft appear in court
• South Africa – Cape Town had covid-19 infections earlier than thought, says health official
• South Africa’s SABC preparing to lay off 600 workers
• Uganda, Kenya shilling, Zambia kwacha to be stable
• Ethiopia dam talks stall with proposal for mediation by PMs
• Nigeria naira recovers after it opens sharply weaker on official window
• South Africa’s bad debts may hit highest ever level of 10% due to virus
• Amazon to hire 3,000 people in South Africa for customer service roles
• Burundi swears in incoming president, week after predecessor’s death
• Nigeria’s naira opens weaker on official window for second session
• Kenya video-conference platform elbows its way into crowded field
• Nigerians face tough job market amid coronavirus outbreak
• Zambia mining revenues drop 30% due to covid-19, chamber of mines says
• South Africa’s Sasol revamp to cut jobs, focus on core businesses
• South Africa non-performing bank loans could hit 10% on covid – association director
• Uganda shilling trades unchanged, dollar appetite low
• South Africa’s Amplats targets mines at 75-80% capacity by end-year
• China will exempt some African countries from repaying certain loans
• South Africa’s Sasol to discontinue all oil growth activities in West Africa

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