By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks sell-off as coronavirus surge knocks recovery hopes
- Virus surges in US, new restrictions considered
- AxJ down 0.7%, falls over 1% in Japan & Australia
- US stock futures down 0.7%; dollar steady
Oil Markets
- Oil prices hold ground after sharp retreat on virus fears
- Brent up 0.1% at $40.36 a barrel (0129GMT)
- WTI up 0.3% at $38.13
Precious metals
- Gold firms as fears of second pandemic wave boost safe-haven bids
- Spot gold up 0.2% at $1,764.20/oz. (0059GMT)
- US gold futures down 0.1% at $1,773.60/oz.
Grains
- Corn falls to near 3-wk low on ample supplies, weak demand
- Corn futures down 0.2% at $3.23-3/4 a bushel (0137GMT)
- Soybeans down 0.1% at $8.69-1/2 a bushel
- Wheat down 0.3% at $3.84-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria’s Buhari attends crucial ruling APC party executive committee meeting
- Kenya’s Kenyatta meets county governors; cabinet reshuffle imminent
- South Africa’s Mabuza briefs parliament on Eskom
- Kenya senate hears impeached Kirinyaga county governor Waiguru’s defense; ruling tomorrow (26 Jun)
- Corporate Council on Africa leaders forum; Kagame, Kenyatta, Nyusi & Akufo-Addo key speakers; 23-26 Jun
- 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
- Bank of Central African States says region’s 2020 GDP to shrink 5.9%
- Malawi media give opposition candidte 55% lead in presidential election
- Former South Africa president De Klerk withdraws from US rights talk
- Congo police disperse parliament protesters with tear gas, water cannon
- Pompeo says China’a Africa lending creates unsustainable debt burdens
- South Africa rolls out continent’s first trials for covid-19 vaccine
- Sierra Leone protests demand justice after girl, 5, raped and killed
- Ethiopia rejects Tigray region’s call for election, citing pandemic
- Western donors hope to Sudan cash scheme with $500 mln – diplomats
- South Africa urges support for SAA resuce but allocates no new funds
- Artisanal miner in Tanzania finds large rare gemstones worth $3.3 mln
- South Africa’s Harmony to start share sale to fund AngloGold deal
- Africa Oil – Nigerian programmes show no sharp cuts
- Sudan to establish trade financing fund in face of forex shortage
- Three dead in violence at SMB’s coltan mine in Congo
- South Africa rand little moved by emergency budget, bonds rally
- South Africa’s debt grows into hippo “eating our children’s inheritance”
- Egypt looking to sell majority stake in Arab Investment Bank, potential buyers say
- Kenya’s central bank extends mobile payments relief by six months
- South Africa’s Implats lifts force majeure, revises 2020 output
- Zambia health minister arrested for corruption
- South Africa’s budget deficit seen widening to 14.6% of GDP
- IMF forecasts deeper recession for sub-Saharan Africa
- MTN to launch 5G network in South Africa next week
- With no tourists to watch migration, Kenya operator’s planes are grounded
- Nigeria talking to World Bank and others to raise $6.5 bln
- Nigeria central bank to work t unify FX rates across markets
- All African countries now have coronavirus lab testing capacity – WHO chief
- Migrant workers need support, jobs at home after pandemic disruption – ILO
- The big chill: How Africa is moving to battle ‘zombie’ appliances
- South Africa retail sales up 2.7% y/y in March
- Nigeria’s rating at risk as debt, financing gap rise – Fitch
- World Bank approves $750 mln loan for Nigeria’s power sector
- South Africa govt urges creditors to support SAA rescue plan
- South Africa inflation sinks to 15-yr low 3.0% y/y in April
- Kenya shilling firm amid end month demand
- Uganda shilling flat amid subdued activity
- South Africa’s African Bank falls to H1 loss after taking charge
- South Africa’s Sun International close properties, cuts jobs as pandemic pressure mounts
- Zimbabwe fuel prices more than double
- South Africa’s Pepkor raises nearly 2 bln rand via share placement
- Australia’s FAR says Senegal unit in default over Sangomar project
N.B. Full stories of above headlines are available on Reuters