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

Global Markets

• Asia shares climb as China blue chips hit 5-yr peak
• Asia ex-Japan stocks highest since Feb, led by China
• Some US states delay reopenings as pandemic rages
• Major currencies range-bound, gold near highs

Oil Markets

• Oil prices mixed as coronavirus spike casts shadow over US demand
• Brent up 0.3% at $42.91 a barrel (0109GMT)
• WTI down 0.7% at $40.35

Precious metals

• Gold slips as risk appetite improves, viurs surge caps losses
• Spot gold down 0.1% at $1,773.49/oz. (0306GMT)
• US gold futures down 0.4% at $1,782.30/oz.

Grains

• Soybeans hit 4-mth high on hot, dry US weather threat
• Soybean futures up 1% at $9.06-1/4 a bushel (0142GMT)
• Corn up 1.6% at $3.59 a bushel
• Wheat up 0.8% at $4.95-3/4 a bushel

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

• Kenya’s Kenyatta speech expected; new covid-19 measures & cabinet reshuffle likely
• Malawi independence day
• South Africa state capture inquiry resumes
• 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’s private economic activity ebbs at slower rate in June – PMI
• Morocco economy to contract 13.8% in Q2, 4.6% in Q3 – planning agency
• Tunisia Ennahdha party to review stance on govt
• Uneasy calm in Ethiopia after protests, official death toll doubles
• Sudan fires top police officials after protests
• South Africa’s Sasol gives up licence to seek offshore gas in Mozambique
• Keep SMB’s Congo coltan mine in supply chains, says mineral tracker
• Congo mines minister to meet with firms on confinement moratorium
• Egypt sets date for senate election in August; 11-12 Aug
• Jets hit Libya’s al-Watiya airbase where Turkey may build base, sources say
• Ghana’s president self-isolates after close person tests positive for coronavirus
• Malawi’s election cheer dampened by coronavirus surge
• Ugandan dies after setting fire to himself over motorcycle impounded over covid-19
• Suicide car bomber hits checkpoint at Somalia’s Mogadishu port
• Nigeria debt rose to 28.62 trln naira as of March – debt office
• Cameroon holds first peace talks with main seperatist insurgents
• Nigeria weakens naira at retail FX auction in a move to align rates
• Nigeria central bank to sell to retail clients at 5% above official rate – traders
• Botswana top vet defends investigations into unexplained elephant deaths
• South Africa’s Tsogo Sun to buy additional shares in Hospitality Property Fund
• Suspected militant ambush in Mali kills seven soldiers
• Land Bank default forces South Africa central bank into $200 mln bailout of state investment arm
• Morocco’s RAM to axe routes, may reduce fleet to secure aid
• South Africa to investigate scrap metal shortage hurting industry
• Angola resists OPEC pressure to comply fully with oil cuts – sources
• South Africa’s Capitec Bank expects 70% plunge in H1 profit due to bad loans
• South Africa’s Old Mutual makes acting CEO permanent, a year after sacking predecessor
• Zimbabwe’s Landela agrees to buy state-owned gold mines, seeks more assets
• Djibouti ramps up efforts to get seafarers stranded by coronavirus off ships
• Angola app gives performers a lifeline – streaming to paying public
• ‘Black Lives Matter’ movement stirs Ghana artist in covid limbo
• Italy prosecutor says Eni, Shell aware of bribes in Nigeria case
• Russia to reopen embassy in Libya – Ifax cites foreign minister
• Kenya shilling weakens due to manufacturing sector demand
• Ghana minister resigns after breaching coronavirus measures
• Vedanta’s Zambia copper unit warns part of Nchanga open-pit mine about to collapse
• South Africa’s National Treasury says “no further action” to bailout SAA airline
• Kenya private sector activity up in June, outlook gloomy – PMI
• Deterioration in South Africa factory activity slows in June as lockdown eases – PMI

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