#Africa #Markets | 13 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Hong Kong leads Asian stocks lower, oil fragile at 5-mth lows
  • HK shares down sharply for 2nd day after big street protests
  • Soft oil prices bolster expectations of Fed rate cuts
  • Bond yields plunge; Japan at 3-yr low, Australia at record
  • European shares seen 0.2% lower

Oil Markets

  • Oil surges after report of tanker incident in Gulf of Oman near Iran
  • Royal Navy unit looking into tanker incident
  • Brent rises by more than $2 a barrel
  • WTI up by about 3% from previous close
  • Brent up 3.3% at $61.97 per barrel (0646GMT)
  • WTI up 2.7% at $52.55 a barrel

Precious metals

  • Gold rises on Fed rate cut hopes, trade worries
  • SPDR Gold holdings rise 0.5% on Wednesday
  • Gold may see strong support at $1,330/oz – analyst
  • Palladium hits more than 1-mth high
  • Spot gold up 0.3% at $1,337.41 per ounce (0706GMT)
  • US gold futures up 0.3% at $1,341.40 an ounce

Grains

  • Corn jumps 1% as rains threaten to halt planting
  • Most active CBOT corn futures up 1% at $4.34-1/4 per bushel (0043GMT)
  • Most active soybean futures up 0.5% at $8.82 a bushel
  • Most active wheat futures up 0.4% at $5.28-1/4 a bushel

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

  • Kenya 2019 budget policy statement by finmin Rotich
  • Nigeria presidential election tribunal resumes
  • Former Sierra Leone president Koroma to appear before Georgewill commission of inquiry
  • South Africa mining production Apr-19 [fcst. -2.0% yy, prev. -1.1%]
  • South Africa state capture inquiry continues
  • South Africa business confidence Q2-19 [prev. 28]
  • South Africa’s Ramaphosa 3-day cabinet lekgotla; day 2
  • AfDB 2019 annual meetings in Malabo, Equatorial Guinea; 11-14 Jun

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Kenya shilling weakens against the dollar
  • Public gatherings banned in Kasese District in Uganda after ebola outbreak
  • South Africa rand slips on investigation into Ramaphosa campaign donation
  • Algeria floats idea of larger OPEC+ oil cut, rollover still likely – sources
  • IMF approves disbursement of $248.15 mln under Angola’s credit facility
  • US joins diplomatic push to salvage agreement in Sudan
  • South Sudan president appoints new oil minister
  • Kenya’s rape survivors win right to abortion in landmark court ruling
  • Ghana says its forces rescued 2 kidnapped Canadian women
  • US names veteran diplomat Donald Booth as envoy for Sudan
  • Algeria’s ex-PM, former minister detained over alleged corruption – state TV
  • Ethiopian telecoms sector requires ‘huge’ investments – minister
  • Sudan’s foreign ministry summons UK ambassador – agency
  • Algeria’s supreme court places former transport minister in custody – state TV
  • Mali revises down death toll from village raid, local official disagrees
  • IMF disburses $247 mln loan tranche to Tunisia
  • South Africa tribunal says it can’t change foreign banks in rand-rigging case
  • Politics weighs on South Africa’s rand, stocks
  • Africa Oil – Buyers elusive amid weak margins
  • Algeria floats idea of larger OPEC+ oil cut, rollover still likely – sources
  • New ebola cases in Uganda raise fears of spread beyond Congo
  • Palestinians urge Egypt, Jordan to reconsider going to US-led conference
  • Soccer – Semenya hopes to inspire South Africa at women’s World Cup
  • WHO emergency committee to meet on ebola on Friday – statement
  • Vodacom challenges 2G network suspension in Congo court
  • Soccer – Nigeria upset South Korea for rare World Cup win
  • Glencore puts Chad oilfields up for sale – sources
  • Tunisia boosts renewables with ‘game-changing’ solar tender
  • Gunmen attack 2 ethnic Dogon villages in central Mali
  • Nigeria’s Buhari signals four more years like the last
  • Ivory Coast cocoa grinding up 7.1% through May – exporter stats
  • South Africa tribunal says it can’t charge foreign banks in rand-rigging case
  • Nigeria’s economy is expected to grow 2.7% this year, President Buhari says

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

#Africa #Markets | 11 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • European shares gain 0.6% on Trump tariff relief, carmakers shine
  • Germany’s DAX outperforms after 1-day holiday
  • German carmakers shine; tariff-sensitive auto sector up 1.9%
  • Dollar firm near 2-1/2 month lows

Oil Markets

  • Oil steadies above $62 as OPEC cuts counter growth concerns
  • Russia signals it may support extended supply cut with OPEC
  • China stimulus boosts equities, giving oil a lift
  • US crude stockpiles expected to fall in weekly reports
  • Brent up 1 cent at $62.30 a barrel (0849GMT)
  • WTI up 40 cents at $53.66

Precious metals

  • Gold draws support from US-China trade worries after sharp sell-off
  • “Remain cautiously constructive on gold” – INTL FCStone analyst
  • Spot gold up 0.1 pct at $1,328.83 per ounce (0551GMT)
  • US gold futures up 0.3 pct at $1,332.90 an ounce

Grains

  • Corn prices fall amid better-than-expected US crop condition ratings
  • Most active CBOT wheat futures down 0.8 pct at $5.03-1/4 per bushel (0104GMT)
  • Most active corn futures down 0.5 pct at $4.31-1/2 per bushel
  • Most active soy futures down 0.4 pct at $8.55 per bushel
  • Most active rice futures down 0.5 pct at $11.72 per hundredweight

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

  • Nigeria presidential election tribunal continues
  • Nigeria’s 9th assembly of Senate & House of Representatives inauguration; election of Senate President & Speaker
  • South Africa manufacturing production Apr-19 [fcst. -0.2% yy, prev. 1.2%]
  • South Africa state capture inquiry continues
  • Rwanda’s Kagame in Gabon; arrived yesterday
  • South Africa’s Ramaphosa in Geneva for ILO summit
  • AfDB meetings in Malabo, Equatorial Guinea
  • Ghana, Ivory Coast to meet cocoa buyers & processors in Accra
  • African Construction Expo in Johannesburg, South Africa

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • 19 killed in attack in northen Burkina Faso – govt
  • Kenya shilling under pressure against the dollar
  • Uganda critics oppose Nile river power plant plan
  • Uganda shilling firms on sag in demand
  • Ethiopia forecasts 9% growth, plans higher spending in 2019/2020
  • Ethiopia finmin proposes 386.9 bln birr for 2019/2020 budget
  • South Africa’s rand recovers as EM demand lifted by Mexico-US deal
  • Vedanta to challenge winding up of Zambian business in court
  • Sudan opposition says to nominate members of transitional council
  • Top US diplomat for Africa to travel to Sudan to urge talks – State Dept
  • Sudan’s opposition will propose members of a transitional, prime minister – source
  • Senegal justice ministry calls for inquiry into energy contracts
  • At least 95 killed in central Mali village attack
  • Bharti Airtel to pay Tanzania $26 mln, cancel debt at unit to settle dispute
  • Mauritius says economic growth may climb to 4.1 pct in 2020
  • Africa Oil – Angolan offered in window
  • Africa’s Multichoice warns of swing to full-year loss
  • Many women in Morocco face abuse at home, some are now speaking out
  • Sudan sit-in bloodshed cripples uprising
  • Rwanda re-opens border with Uganda to trucks for 12 days
  • Ethiopia delays census again despite looming election
  • South African govt sued over coal and industrial air pollution
  • Securities trading in South African sugar producer Tongaat suspended
  • Sudan deports 3 freed rebel leaders after talks collapse – source
  • About 100 Malians killed in attack on Dogon village
  • Egypt sells $715 mln in 1-yr dollar T-bills
  • eSwatini calls for solar power bids to ease reliance on South Africa’s Eskom
  • Kenya Airways aims to double fleet over 5 yrs on path to profit
  • South Africa’s opposition party calls for release of report on Ramaphosa
  • Egypt headline inflation rises as food costs jump
  • Egypt core inflation falls to 7.8% in May – c.bank

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

#Africa #Markets | 10 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks climb trade, rate cut optimism; yuan falters
  • Shares climb after Trump scraps Mexico tariffs
  • European markets move higher, US stocks futures up
  • Weak US payrolls data bolsters Fed rate cut expectations
  • Yuan at late-2018 lows; China’s May imports disappoint

Oil Markets

  • Oil steady with supply tight, but US-China trade war threatens demand
  • China’s May crude imports dip from record highs
  • Saudi Arabia says ongoing supply cuts likely
  • Brent up 0.2 pct at $63.42 per barrel (0850GMT)
  • WTI up 0.4 pct at $54.19 per barrel

Precious metals

  • Gold drops from 14-mth high as US-Mexico deal lifts risk assets
  • Speculators raised net gold longs in week to June 4 – CFTC
  • Spot gold down 0.9 pct at $1,328.41 per ounce (0952GMT)
  • US gold futures down 1.1 pct at $1,331.9 an ounce

Grains

  • Corn, soybeans fall as weather allows more US plantings
  • Expectations of planting progress weigh on corn, beans
  • Wheat falls for 2nd session, tracking losses in corn futures
  • Most active CBOT corn contract down 0.7 pct at $4.13 a bushel (1127GMT)
  • Most active soybean contract down 0.5 pct at $8.51-3/4 per bushel
  • Most active wheat contract down 1.5 pct at $4.97 a bushel

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

  • Nigeria presidential election tribunal resumes
  • Ethiopia parliament to approve telecoms liberalisation law
  • South Africa’s Ramaphosa in Geneva for ILO summit
  • AfDB meetings in Malabo, Equatorial Guinea; 11-14 Jun
  • South Africa state capture inquiry resumes

Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • China ready for trade talks with East Africa bloc – ambassador to Kenya
  • Subsidise solar mini-grids to power rural Africa, investors urge
  • Nigeria’s securities regulator suspends Oando’s annual shareholder meeting
  • Tanzania central bank cuts reserve requirement to lift lending
  • Egypt headline inflation rises as food costs jump
  • Moody’s lowers South African growth forecast after Q1 slump
  • Soccer – Iheanacho dropped by Nigeria for Cup of Nations
  • Moody’s says South Africa Q1 GDP contraction credit negative
  • Kenya shilling firms, supported by diaspora remittances inflows
  • South African rand starts week on stronger footing
  • Egypt annual headline inflation rises to 14.1% in May
  • Shutting up shop: Libya conflict squeezes southern Tunisia
  • ‘We want water’ say residents as Abidjan grows drier
  • Egypt non-oil private-sector activity contracts after brief growth
  • 2 Lebanese workers kidnapped in Nigeria’s Rivers state
  • 2 Sudan rebel leaders arrested after meeting Ethiopia PM – sources
  • Thousands protest in Liberia against corruption, economic decline
  • As violence rages, Cameroon govt in denial, HRW says
  • Ethiopia attempts to mediate Sudan crisis after bloodshed
  • New app seeks to reunite South Sudan’s ‘lost children’ with families
  • Sudan opposition says it accepts Ethiopia PM as mediator under conditions
  • Africa Oil – Nigerian diffs ease but buyers remain elusive
  • Zimbabwe president says new currency a must by year-end
  • UAE senior official supports investigation of “massacre” in Sudan
  • South Africa Airways requests urgent state funding as it appoints interim CEO
  • African soccer boss free after corruption questioning
  • ‘You all go’ – thousands of Algerians demonstrate for political reforms
  • Activists urge banks not to finance Uganda oil pipeline
  • Ethiopia parliament to approve telecoms liberalisation law
  • South Africa carrier SAA says 4 bln rand govt bailout would ease liquidity crunch
  • Uganda shilling trades unchanged as importers trim demand
  • Kenya shilling firm on diaspora remittances inflows
  • South Africa’s net foreign reserves slip to $43.18 bln in May

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

#Africa #Markets | 7 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares up on policy easing hopes, yuan slips on PBOC signals
  • PBoC chief says ample room to ease policy if needed, dollar rises
  • China, Hong Kong markets closed for public holiday
  • White House denies delay in Mexico tariffs
  • US payrolls seen +185k but risks on downside

Oil Markets

  • Oil prices extends gains, move further away from 5-mth lows
  • Brent up 0.8 pct at $62.17 per barrel (0041GMT)
  • WTI up 1 pct at $53.09 per barrel

Precious metals

  • Gold set for best week in 2019 on rate cut views; eyes on US jobs data
  • Gold up 2.1% so far this week
  • Platinum on track for its first weekly gain in 7
  • Silver set to post best week in over 4 months
  • Spot gold down 0.2 pct at $1,332.31 per ounce (0122GMT)
  • US gold futures down 0.4 pct at $1,337 an ounce

Grains

  • Wheat dips, but set to finish week up 1 pct
  • Most active CBOT wheat futures up about 1 pct for the week
  • Most active soybean futures down about 1 pct so far this week
  • Most active corn futures down 1.5 pct for the week

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

  • Liberia June 7 protest
  • Ethiopia’s Ahmed in Sudan to mediate political crisis
  • Botswana’s Masisi media briefing on return from US trip
  • South Africa FX reserves May-19 [act.$48.3B, prev. $49.5B]
  • Nigeria Stanbic IBTC PMI May-19 [act. 52.9, prev. 55.5]
  • Nigeria releases Q1-2019 trade data
  • South Africa state capture inquiry continues
  • Zimbabwe national cleanup day

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Ethiopia PM Abiy in Sudan to meet with chief of military council
  • Kenya shilling firm on diaspora remittances inflows
  • South Africa rand continues to tumble on central bank worries
  • South Africa net foreign reserves slip to $43.18 bln in May
  • UN finds 115 mln ‘child grooms’ with CAR topping list
  • Eastern Libya forces attack Tripoli airport for second night
  • 3 protesters killed in Nigeria’s Adamawa state – sources
  • Algeria’s interim president calls for dialogue to prepare new elections
  • African bloc suspends Sudan, demanding end to military rule
  • 1 in 4 ebola cases undetected in Congo – WHO
  • Sierra Leone’s first lady confronted over FGM controversy
  • 2 Canadian aid workers kidnapped in central Ghana – police
  • UK summons Sudan envoy to raise concerns about Khartoum violence
  • Africa Oil – Trading muted on IOC tender, Angolan cargoes dwindle
  • South Africa’s ANC insists policy on central bank role has not changed
  • Malawi police use tear gas as opposition protests grow
  • Soccer – CAF president Ahmad questioned by French authorities
  • South African current account deficit widens to 2.9% of GDP in Q1 2019
  • AU suspends Sudan from its activities till civilian govt formed
  • Mali plans 9.4% budget increase for 2020 to deal with security issues
  • Sudan crackdown highlights role of feared paramilitary unit – Amnesty
  • Nigeria petroleum regulator revokes six oil block licenses
  • Egypt forces kill 14 suspected militants after checkpoint attack
  • Kenya’s ‘stabilising hand’ c.bank chief gets second term
  • Uganda shilling trades weaker on importer demand
  • South Africa’s rand falls as ANC squabbles over central bank
  • Kenya president renews central bank governor’s term – govt gazette

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

#Africa #Markets | 6 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Shares subdued as trade risk sours rate hopes
  • Trump tweets on lack of progress in Mexico talks
  • Mexican peso takes added blow on Fitch downgrade
  • Wagers on Fed rate cut underpin Wall Street
  • Oil bruised after falling to 5-mth low

Oil Markets

  • Oil stutters at over 4-mth low on rising US supply, demand fears
  • US crude oil output hits record 12.4 mln bpd – EIA
  • US crude inventories at highest since July 2017 – EIA
  • Brent down 0.2 pct at $60.50 per barrel (0108GMT)
  • WTI down 0.1 pct at $51.62 per barrel

Precious metals

  • Gold steadies after falling from 15-wk peak; rate cut hopes support
  • SPDR Gold holdings fall 0.3 pct on Wednesday
  • Spot gold might fall to $1,315-$1,321/oz – technicals
  • Silver market may be bottoming – HSBC
  • Spot gold up 0.1 pct at $1,331.43 per ounce (0546GMT)
  • US gold futures up 0.2 pct at $1,335.60 an ounce

Grains

  • Wheat jumps nearly 1 pct, gains checked as US crop fears ease
  • Most active CBOT wheat futures up 0.8 pct at $4.94-3/4 per bushel (0105GMT)
  • Most active corn futures down 0.2 pct at $4.14 per bushel
  • Most active soybean futures down 0.3 pct at $8.67 per bushel

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

  • Uganda’s Museveni to deliver state of nation address
  • South Africa current account balance Q1-19 [fcst. -3.1% of GDP, prev. -2.2%]
  • Nigeria Stanbic IBTC PMI May-19 [prev. 55.5]
  • Nigeria’s legislature to hold valedictory session; inauguration of new cohort on 11 June
  • Ghana’s Akufo-Addo in Nigeria; met Buhari yesterday
  • EFF’s Malema to testify before Joint South African Human Rights Commission & Public Protector Alexandra inquiry
  • South Africa state capture inquiry continues

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • ‘We live in fear’: Facing dry times, rural South Africans rethink water
  • Sudan opposition rejects military’s offer of talks, dozens killed
  • Sudan health ministry says death toll from violence is 46 – state news agency
  • Cotton waste biofuel powers farmers to fight drought in Kenya
  • UAE is watching Sudan developments with concern – statement
  • UN says to move some staff out of Sudan temporarily
  • In Sudan crackdown, bullets fly as doctors struggle
  • Senegal president says truth of BP gas deal will be established
  • Soccer – African Champions League final to be replayed
  • South African central bank row exposes ANC divisions
  • Ebola listening projects take cues from community to improve response
  • South African president meets state firm chiefs after resignations
  • South Africa’s rand sinks to 1-wk low amid row over central bank role
  • Russia’s VTB bank says no decision yet on sale of Africa unit
  • Sudan opposition medics say death toll from violence exceeds 100
  • Africa Oil – Trading favours late buyers as prices trend downward
  • Militant attack in Sinai kills 8 Egypt security personnel
  • Sudan opposition snubs military council’s talks invitation
  • Sudan rebel leader Yasir Arman detained – spokesman
  • In Sudan crackdown, bullets fly as doctors struggle
  • Saudi Arabia is watching Sudan developments with concern – state media
  • Deputy head of Sudan rebel group detained – spokesman
  • Zimbabwe and EU seek to move on from Mugabe-era strains
  • 5 dead, dozens feared missing after landslides in Uganda
  • Namibia’s economy expected to contract again in 2019 – IMF
  • Sudan’s military rulers say they have launched investigation into violence
  • South Africa’s Sibanye-Stillwater reduces job cut plan in gold shake-up
  • South Africa doesn’t have conditions for quantitative easing – cbank gov
  • South African business confidence marginally lower in May – SACCI
  • South African rand volatility gauge touches near 2-mth high
  • South Africa finmin: nobody talking about changing central bank mandate
  • World leaders urged to make female circumcision a priority like HIV
  • South Africa c.bank governor says primary mandate is price stability
  • South African Communist Party says central bank mandate should include job creation
  • Cameroon tops list of world’s most neglected displacement crises

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

#Africa #Markets | 5 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Fed cheer lifts Asian shares, leaves dollar on back foot
  • Powell: Fed will react “as appropriate” to trade war risks
  • Wall St stocks jump; 10-yr treasury yield off 21-mth low
  • European stocks seen opening flat to higher
  • Dollar remains under pressure, hovers near 7-wk low

Oil Markets

  • Oil prices fall on surprise US stocks rise, Russia supply comments
  • Inventories rise by 3.5 mln bbl – API
  • Analysts had expected drop 849,000 bbl
  • Brent down 0.7 pct at $61.55 a barrel (0552GMT)
  • WTI down 0.9 pct at $53 a barrel

Precious metals

  • Gold scales over 3-mth peak on hopes of Fed rate cut, softer dollar
  • Silver hits near 1-mth high
  • Platinum tops more than 2-wk high
  • Spot gold up 0.7 pct at $1,333.90 per ounce (0730GMT)
  • US gold futures up 0.8 pct at $1,339.60 an ounce

Grains

  • Wheat falls as much as 2 pct to hit near 1-wk low
  • Most active CBOT wheat futures down 0.8 pct at $5.03 per bushel (0544GMT)
  • Most active corn futures down 0.5 pct at $4.23-1/4 per bushel
  • Most active soy futures down 0.1 pct at $8.80-3/4 per bushel
  • Most active rice futures down 0.2 pct at $11.66 per hundredweight

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

  • Kenya’s Kenyatta, Ethiopia’s Zewde & Ghana’s Akufo-Addo attending 2019 Women Deliver conference in Canada; 3-6 Jun
  • South Africa SACCI business confidence May-19 [prev. 93.7]
  • South Africa state capture inquiry continues
  • South Africa central bank governor Kganyago speech at launch of 25 years of democracy commemorative coins
  • South Africa main opposition DA’s Maimane to announce shadow cabinet
  • South Africa Standard Bank PMI [act. 49.3, prev. 50.3]

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • 8 Egypt security personnel killed in Sinai – state TV
  • Sudan’s military chief says he’s ready to resume talks as death toll rise to 60
  • South Africa’s rand weakens further after shock GDP slump
  • Death toll in Sudan violence rises to 60, doctors’ group says
  • Cameroon tops list of world’s most neglected displacement crises
  • Trees or sugar? Conservationists, traditional kingdom clash over Uganda forest
  • Mozambique’s top court says state-guaranteed eurobond illegal
  • Sudan opposition rejects military’s transition plan after day of violence
  • South Africa’s ANC argues over central bank mandate after GDP shock
  • South Africa’s ANC has not decided to expand central bank mandate – economic chief
  • Africa Oil – Uptick in US exports threatens to squeeze WAF grades
  • Sudan protest group calls for international inquiry into protesters’ deaths
  • Vedanta’s Zambia court hearing adjourned for a week
  • Sudan opposition warns Arab countries against interference
  • South Africa’s ANC says agreed to expand central bank mandate
  • Congo ebola infections exceed 2,000 as new case rate triples
  • Departures at South African state firms could drag out Ramaphosa’s reforms
  • South African economy shrinks 3.2% in Q1 – stats office
  • Sudan opposition rejects military’s schedule for elections
  • Kenya shilling firms against the dollar
  • Kenya central bank to hold its rate-setting meeting on July 24
  • Kenya president vows to push for more women in power and end FGM
  • Airtel Africa to file London IPO
  • Sudan’s military scraps deal with the opposition, calls for elections within 9 months

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

#Africa #Markets | 4 Jun

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares fall as weak data inflames growth fears
  • MSCI Asia ex-Japan -0.3%
  • China blue-chips down 1.2%

Oil Markets

  • Oil prices fall amid economic slowdown despite ongoing OPEC supply cuts
  • Analysts say economic slowdown starting to hit oil demand
  • Saudi Arabia sees consensus on extending supply cuts
  • Brent down 0.7 pct at $60.88 per barrel (0038GMT)
  • WTI down 0.6 pct at $52.94 per barrel

Precious metals

  • Gold holds near 3-mth peak as trade fears boost safe-haven demand
  • Spot gold up 0.1 pct at $1,326.49 per ounce (0136GMT)
  • US gold futures up 0.3 pct at $1,332.20 an ounce

Grains

  • Corn jumps 2% as US govt confirms planting delays
  • Most active CBOT wheat futures up 0.7 pct at $5.23-1/2 per bushel (0018GMT)
  • Most active corn futures up 2.3 pct at $4.34 per bushel
  • Most active soy futures up 1.1 pct at $8.89 per bushel
  • Most active rice futures down 0.3 pct at $11.67 per hundredweight

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

  • Kenya’s Kenyatta & Ethiopia’s Zewde attending Women Deliver conference in Canada
  • South Africa GDP Q1-2019 [fcst. -0.8% qq saa, prev. 1.4%]
  • South Africa’s ruling ANC to hold post-NEC lekgotla press conference
  • South Africa state capture inquiry continues

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Sudan’s military scraps deal with protest groups, calls for elections within 9 mths
  • Airtel Africa to file for London IPO
  • Sudan forces storm protest camp, more than 35 people killed
  • Senegal’s opposition calls for inquiry on BP gas deal
  • Nigeria court blocks watchdog from replacing boss of oil firm Oando – document
  • Spain urges more EU aid to help Morocco tackle migration
  • Sudan public prosecutor to investigate violence at protest site – SUNA
  • Morocco’s trade deficit widens 5 pct y/y in Jan-Apr
  • UN chief condemns violence against civilians in Sudan
  • Athletics – South Africa’s Semenya free to run without medication while appeal is heard – court
  • South African rand firms on weaker dollar, focus on GDP numbers, stocks up
  • Africa Oil – Price offerings marked down further, interest perks up
  • Zambia starts electricity rationing for non-mining industry
  • UK foreign minister condemns Sudan sit-in dispersal
  • BP agrees to sell Egypt oil assets to Dubai’s Dragon Oil
  • South Africa’s Shoprite halts deal that would cut chairman’s voting influence
  • IMF urges South Africa to speed up reforms to boost growth
  • ArcelorMittal’s South Africa unit to face emissions charges
  • Egypt May net foreign reserves rise to $44.27 bln – central bank
  • Kenya’s central banker warns about impact of illicit flows
  • Zimbabwe’s mineral-backed loans may complicate talks with creditors, IMF says
  • Angola, Eni make new offshore oil discovery – state news agency
  • Sudan opposition says halting all contact with military council
  • Egypt to auction $715 mln in 1-yr dollar t-bills
  • China demand for Angola crude oil stalls as buyers hold out for lower prices
  • South Africa Absa pmi drops in May
  • Kenya shilling steady against the dollar
  • Sudan military council says criminals, not protesters, targeted, talks to resume soon
  • Sudan protest leader says to step up civil disobedience after “coup”
  • South Africa’s Sasol says 2nd unit at LCCP starts production

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