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