By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian stocks, oil higher as economies emerge from lockdown
- Asian stocks track late US rally
- Optimism about reopening of economies returns
- Oil maintains momentum
- Mainland China, Japan markets closed for holidays
Oil Markets
- Oil prices rise on demand prospects as lockdowns start to ease
- Brent up 4.1% at $28.32 a barrel (0108GMT)
- WTI up 7.6% at $21.94
Precious metals
- Gold slips as some economies ease virus-led restrictions
- Spot gold down 0.2% at $1,698.39/oz. (0330GMT)
- US gold futures down 0.5% at $1,704.80/oz.
Grains
- Corn ticks up after 2 sessions of losses, US planting progress caps gains
- Corn futures up 0.2% at $3.16 a bushel (0058GMT)
- Wheat down 0.5% at $5.17 a bushel
- Soybeans up 0.1% at $8.37-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria legislature debates contentious infectious disease bill [reportedly contains draconian provisions; negative]
- 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
- Armed group in northeast Congo says to lay down weapons
- WHO cautions against untested covid-19 traditional remedies
- French soldier dies in operation in Mali
- Sudan appoints first ambassador to US for decades
- Six dead as plane carrying coronavirus aid crashes in Somalia
- IMF approves $226 mln for Cameroon to help with covid-19 impact
- WHO chief urges unity in long fight against virus
- Tanzania suspends laboratory head after president questions coronavirus tests
- Egypt raises new tax on fuel as it confronts coronavirus crisis
- Africa Oil – Differentials rise on reduced freight rates
- Nigeria reopens main cities Lagos and Abuja as lockdowns phased out
- South Africa rand recovers after selloff, stocks fall
- Sudan sets up bourse for gold as opens up market
- Equatorial Guinea grants 2-yr extensions on oil & gas exploration
- Nigeria receives $311 mln of Abacha assets from United States, Jersey – attorney general
- Nigeria bank layoffs barred as crisis hits economy
- Algeria Sonatrach signs MOU with Russia’s Lukoil
- Egypt sells $975.4 mln in 1-yr t-bills at average yield of 3.495%
- Vodacome launches commercial 5G mobile network in South Africa
- Zimbabwe pleads with foreign lenders to prevent coronavirus “catastrophe”
- South Africa Absa PMI falls, business activity crashes to all-time low
- Forty percent of Nigerians live in poverty – stats office
- Kenya to sell five-year 50 bln shillings treasury bond in May – cenbank
- Nigeria taps the power of music to try to beat coronavirus
- South Africa banks’ relief for virus-hit borrowers nears $800 mln
- Uganda shilling unchanged on slumped demand
- Egypt’s Suez canal revenues rise to $1.907 bln in first four months
- South Africa deputy finance minister urges central bank to print money to fund govt – report
- South Africa GDP could shrink as much as 12% due to coronavirus – treasury head
- South Africa Famous Brands reports marginal revenue due to lockdowns
- South Africa Imperial Logistics to sell European shipping business for $246 mln
- Kuwait says breaks up Egypt worker riot over repatriation
N.B. Full stories of above headlines are available on Reuters
