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

Global Markets

• Asian shares fall on coronavirus drug, economic damage concerns
• Investors looking for medical response to coronavirus
• Oil prices extend tentative rebound
• US business activity plumbs record lows

Oil Markets

• Oil prices extend rebound on output cuts, still set to end tumultous week in the red
• Brent up 2.8% at $21.93 a barrel (0133GMT)
• WTI up 4% at $17.16

Precious metals

• Gold dips on profit-taking, but eyes weekly gain on economic woes
• Spot gold down 0.6% at $1,721.15/oz. (0345GMT)
• US gold futures little changed at $1,744.70/oz.

Grains

• Soybeans firms for fourth straight session on Chinese demand
• Soybeans up 0.2% at $8.48-1/2 a bushel (0153GMT)
• Soybeans up 0.7% for the week
• Corn up 1.2% for the week
• Wheat up 2.6% for the week

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

• Nigeria manufacturing PMI Apr-20 [prev. 51.1]
• Nigeria’s Buhari chief of staff pick awaited
• Key African countries on lockdown; subdued economic activity
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today

• Algeria eases coronavirus lockdown for Ramadan
• Egypt loosening some lockdown restrictions for Ramadan; coronavirus toll rises
• South Africa to begin phased easing of lockdown on May 1
• WHO to launch initiative to share COVID-19 drugs, tests & vaccines
• Congo Republic sees economy shrinking 9% in 2020
• African nations to get ventilators from Ma foundation, stress need for WHO help
• UN agency calls for $1 trillion developing world debt write-off
• AU envoy says virus outbreak would be a disaster for Africa
• SEC drops inquiry into Shell’s OPL 245 deal, company says
• South Africa Airways faces wind-down or liquidation as cash runs out
• Africa Oil – Nigerian export programmes expected buyers elusive
• Nigeria investigating jump in deaths in Kano city, coronavirus suspected
• Libya turning into ‘experimental field’ for arms as war heats up – UN
• Eni & Naturgy’s Damietta gas plant deal with Egypt falls through
• 14 Congo seperatists killed in clashes with police, locals
• South Africa’s Dis-Chem found to have hiked face mask prices by 261%
• West Africa bloc recognises Embalo as Guinea- Bissau president
• Egypt keeps night curfew for Ramadan – PM
• South Africa’s Amplats targets $211 mln in savings to offset lockdown losses
• South Africa – Crowds loot trucks in Cape Town a month into COVID-19 lockdown
• Congo’s economy to shrink 2.2% because of coronavirus – IMF
• West Africa countries to issue $1.4 bln in coronavirus bonds
• Mideast, Africa govts failing to protect airlines – IATA
• Nigeria governors to ban interstate movement to contiain coronavirus
• Africa airlines could lose $6 bln in passenger revenue on 2020 – IATA
• Liquidity mop-up by the central bank support Ugnada shilling
• South Africa Village Main Reef says it will retrench some workers
• Fears for Uganda zoo animals as cash dwindles in coronavirus lockdown
• Kenya shilling holds steady against the dollar
• South Africa itinerant wastepickers lose livelihood in lockdown
• Botswana president, lawmakers out of quarantine after testing negative for coronavirus
• Tullow exits Uganda project, sells stake to Total for $575 mln
• Platinum producer Sibanye Stillwater pulls 2020 outlook, to resume South Africa ops
• IMF approves $363 mln to help Congo fight coronavirus

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