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