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

Global Markets

• Asia shares extend gains as economies slowly re-open, oil rallies
• MSCI Asia-Pacific ex Japan up 0.9%; up 3.3% week thus far
• Australia shares up 1.2%, South Korea +1.2%
• China markets blue-chips up 0.6%

Oil Markets

• Oil prices climb as storage fills less rapidly than feared
• Brent up 1.8% at $20.82 a barrel (0038GMT)
• WTI up 8.8% at $13.43

Precious metals

• Gold ticks up on weaker dollar; Fed decision awaited
• Spot gold up 0.1% at $1,708.53/oz. (0126GMT)
• US gold futures up 0.2% at $1,725.50/oz.

Grains

• Corn ticks up for first time in four sessions
• Corn futures up 0.1% at $3.12-1/4 a bushel (0158GMT)
• Soybeans up 0.2% at $8.33-1/2 a bushel
• Wheat down 0.3% at $5.23-1/2 a bushel

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

• Central Bank of Kenya decides on interest rates [fcst. 7.0%, prev. 7.25%]
• 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

• Mali parliament approves new mining code
• Malawi launches $40 monthly cash transfers to combat coronavirus impact
• IMF approves $3.4 bln emergency aid for Nigeria’s pandemic response
• Mozambique forces killed over […] 100 insurgents in past month – govt
• Morocco rejects accusation of police abuse in enforcing lockdown
• Without naming Libya’s Haftar, France says unilateral action won’t solve conflict
• South Africa state airline SA Express faces liquidation
• Calls in Egypt for censored social media after arrests of TikTok star, belly dancer
• Africa Oil – Nigeria programmes begin to emerge, Angolan final waited
• South Africa union tells mineworkers to resist Harmony Gold mine restart
• South Africa rand, stocks rally as stimulus, easing lockdowns lift sentiment
• South Africa delivery firms switch to meds, groceries during pandemic
• Ivory Coast presidential candidate Soro sentenced to 20 yrs in prison
• Nigeria switches to domestic naira markets to finance 2020 budget
• Launch of Africa free trade deal postponed due to coronavirus – official
• South Africa mining firms work together against covid-19 as mines reopen
• Nigeria senate approves president’s 850 bln naira borrowing scheme
• Russia disapproves of Haftar’s power grab in Libya – Ifax cites foreign minister
• South Sudan central bank slashes benchmark rate to 13%
• Nigeria seeks $2.36 bln in domestic loans; external markets unfavourable
• Algeria annual inflation unchanged in March at 1.8%
• DR Congo locks down mining city and Zambia border town
• Escaped ebola patient hiding in Congo militia-held area – officials
• South Africa landlords step up assistance for retail tenants
• Sudan inflation rises to 81.64% in March – statistics agency
• Russia still committed to diplomatic process in Libya after Haftar power grab
• East Libya has expelled 1,400 refugees and migrants this year: UN
• Kenya estimates 2020 GDP growth of 2.5% but could go lower
• Kenya shilling loses ground under pressure from end-month demand
• Kenya economic growth slowed to 5.4% in 2019 v 6.3% in 2018 – finmin
• Russia ‘surprised’ by Haftar’s Libya power grab – RIA cites source
• Russia’s Novak says storage weighing on oil prices but output pact will help
• South Africa rand weaker on rescue package funding worries

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