By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares follow S&P 500 higher, oil and gold jump
- Nikkei gains 0.6%, S&P 500 futures climb 1.1%
- Brent jumps to 5-wk high on hopes for demand revival
- Gold at 7-yr peak amid lake of liquidity, low rates
Oil Markets
- Oil prices climb more than $1 ahead of WTI June contract expiry
- June WTI contract hits 9-wk high before Tuesday’s expiry
- No sign of repeat of price rout on eve of May contract expiry
- Saudi-Kuwait to shut joint production field in June – media
- Brent up 4.1% at $33.84 a barrel (0044GMT)
- WTI up 4.8% at $30.83
Precious metals
- Gold jumps to highest since Oct 2012 on US-China worries
- Spot gold up 0.9% at $1,756.79/oz. (0043GMT)
- US gold futures up 0.5% at $1,765.70/oz.
Grains
- Wheat extends losses as bumper global stocks weigh
- Wheat futures down 0.2% at $4.99-1/2 a bushel (0154GMT)
- Soybeans up 0.3% at $8.40-3/4 a bushel
- Corn up 0.6% at $3.20-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria’s Buhari addresses nation on covid-19 measures
- Nigeria inflation Apr-20 [fcst. 12.5% yy, prev. 12.3%]
- Key African countries on lockdown or restricted; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases over the weekend & early a.m today
- African countries get new tool to predict climate-related disasters
- Nigeria impounds British plane for breaking coronavirus flight ban rules – aviation minister
- Egypt tightens coronavirus restrictions for Eid holiday
- ‘He wouldn’t say a word’ – Rwanda genocide fugitive lives incognito in Paris
- Tanzania Magufuli plans to lift coronavirus restrictions
- Sudan airports to remain closed until May 31
- Sierra Leone police arrest five expatriate staff of SL Mining
- Armed group kills 20 villagers in northeast Congo
- Madagascar records its first covid-19 death – official
- Suicide bombing in Somalia kills governor, three others in Puntland – police
- First Abu Dhabi Bank puts talks to acquire Bank Audi’s Egypt business on hold – sources
- Egypt to loan EgyptAir $127 mln to help it through coronavirus crisis
- Libya – Shelling kills two at Tripoli displaced people shelter – emergency services
- Impoverished Burundi, battered by violence and coronavirus, gears up for elections
- Rwanda genocide suspect Kabuga arrested in France after decades on the run
- South Africa’s Impala closes platinum mine due to coronavirus cases
- Zimbabwe to ease coronavirus curbs, but lockdown to remain for now
- Kenya closes borders to Tanzania and Somalia over coronavirus
- Liberia’s largest palm oil project lays off 10% of workforce
- Tanzania lowers 2020 growth projection amid coronavirus outbreak
- Sudan annual inflation rises to 98.81% in April – stats agency
- Private creditors push back against blanket debt relief for Africa
- Namibia president cuts ministers’ perks in coronavirus fight
- South Africa energy regulator allows Eskom to claw back $718 mln in tariffs
- South Africa SAA has spent $539 mln since filing for bankruptcy protection – practitioners
- Ethiopia Airlines sees Boeing 737 MAX compensation deal by end-June
- South Africa TFG in talks on $134 mln loan, cuts capex forecast
- South Africa rand weakens on coronavirus rebound fears
- Africa Oil – IOC re-issues tender, Angola programme awaited
- South Africa Airways administrators prefer structured wind-down to liquidating struggling airline
- South Africa SAA has spent $539 mln since filing for bankruptcy protection – practitioners
- Zimbabwe’s drought-hit Bulawayo limits tap water to just a day a week
- Bank of Ghana holds key rate, surprises with bonds purchase
- Kenya hip hop artist Juliani stages online concert to highlight coronavirus divide
- Zambia reopens border with Tanzania to cargo after covid-19 closure
- Court orders suspension of South Africa soldiers over death of man in lockdown
- Ethiopia Airlines CEO expects settlement with Boeing by end-June
- Style-conscious Africans turn compulsory masks into fashion accessories
- Nigeria cutting oil output by nearly a quarter – minister
- South Africa prepares to protect groundwater from coronavirus mass graves
- Kenya shilling weakens as demand surges amid easing coronavirus lockdown
- Ethiopia migrants recall nightmare when 64 died in a metal container
- Nigeria mid-crop cocoa output seen weak as coronavirus disrupts exports
- Kenya to sell 6-yr infrastructure bond this month – central bank
- South Africa’s Aspen Pharmacare maintains FY profit forecast
- Uganda reserves will decline sharply without external help – IMF
- Kenya central bank to hold rate-setting meeting on May 27
N.B. Full stories of above headlines are available on Reuters