By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks jump as investors pin hopes on coronavirus treatment
- Asia shares rise for 2nd straight day; China, Japan climb
- E-mini futures for S&P 500 gain 0.3%
- Coronavirus treatment, vaccine hopes support sentiment
- Oil prices rise, gold falters
- Brent down at 0.1% at $44.33, gold down 0.3% at $1,934.13
Oil Markets
- Oil prices steady as ‘double trouble’ storms bear down on Gulf of Mexico
- OPEC+ needs to offset large May-July oversupply – document
- Brent down 0.1% at $44.33 a barrel (0316GMT)
- WTI down 0.1% at $42.32
Precious metals
- Gold slips as coronavirus treatment hopes lift risk appetite
- Spot gold down 0.3% at $1,934.13/oz. (0317GMT)
- US gold futures down 0.2% at $1,942.90/oz.
Grains
- Corn rises for 2nd session on expectations of lower US output
- Corn futures up 0.7% at $3.42-3/4 a bushel (0233GMT)
- Soybeans down marginally at $9.04-1/2 a bushel
- Wheat down 0.2% at $5.34 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria Q2-2020 GDP [fcst. -11.0% yy, prev. 1.9%]
- ECOWAS’ Jonathan et al. continue Mali talks to restore Keita govt
- Kenya senate back on thorny revenue allocation formula
- Kenya’s Kenyatta cabinet reshuffle in focus ahead of Friday when ordered recess ends.
- CSIS Africa hosts webinar on “digital currency & remittances in the time of Covid-19”
- 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
- Protesters dispersed by gunfire in Libya’s capital
- Morocco rejects normalising ties with Israel – PM
- East Libya forces dismiss ceasefire push by rivals
- US secretary of state Pompeo to visit Sudan in coming days
- Sanctions in focus as West Africa mediators meet Mali coup leaders
- Sudan ready to cooperate with ICC over Darfur, says PM
- Mali’s coup leaders meet mediators seeking return to civilian rule
- Zambia president fires central bank governor in surprise move
- Congo grants new export ban waivers for copper, cobalt, tin
- South Africa seeks proposals for 2,000 MW of emergency power
- Suspected militants kill 13 in eastern Congo villages
- Gulf Arab states welcome truce announcement in Libya – UAE news agency
- Libya’s Tripoli-based govt & rival parliament take steps to end hostilities
- Nigeria will bar entry for citizens of countries that block Nigerians – minister
- South Africa’s Covid-19 infections breach 600,000 mark
- Zimbabwe politician who called for protests denied bail for third time
- US halts military cooperation with Mali as coup supporters celebrate
- South Africa mobile operator Cell C to close 128 stores, affecting 546 jobs
- Ebola outbreak in western DR Congo hits 100 cases
- US suspends military cooperation with Mali following president’s overthrow
- Tunisia imposes curfew in two southern towns to counter coronavirus
- Kenya all-female conservation ranger unit patrols amid Covid-19
- Sierra Leoneans sue govt for alleged environmental failings at diamond mine
- Sierra Leone court freezes Steinmetz’s Octea assets
- Libya’s NOC welcomes oil restart proposal, calls for military withdrawal
- South Africa’s Tiger Brands says chairman to step down
- Kenya doctors in Nairobi over pay, lack of Covid protection
- Zimbabwe politician who called for protests denied bail for third time
- Egypt’s Sisi welcomes ceasefire calls by Libya warring parties – statement
- Zimbabwe central bank keeps main lending rate at 35%
- Libya Tripoli-based govt declares ceasefire – statement
- Kenya all-female conservation ranger unit patrols amid Covid-19
- Comedian mocks Zimbabwe’s govt, despite fear of reprisal
- Japan ship deviated from shipping lane before Mauritius impact, data shows
- South Africa’s Eskom halts power cuts after recovering three coal units
N.B. Full stories of above headlines are available on Reuters