By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Hong Kong leads Asia shares lower as Beijing readies new security law
- Hang Seng falls over 3% as Beijing plans new security law
- Hong Kong latest flashpoint in deteriorating US-China ties
- China pledges more stimulus, does not set 2020 growth target
- Major currencies unmoved
Oil Markets
- Oil prices, gasoline demand climb as countries ease coronavirus curbs
- Brent up 0.4% at $36.20 a barrel (0040GMT)
- WTI up 0.2% at $33.97
Precious metals
- Gold faces weekly decline on signs of growth picking up
- Spot gold at $1,727.39/oz. (0248GMT); down 1.4% yesterday
- US gold futures up 0.3% at $1,726.50/oz.
Grains
- Wheat inches down, but set for 3% weekly gain on supply concerns
- Wheat futures down 0.2% at $5.15 a bushel (0118GMT)
- Wheat up nearly 3% for the week
- Soybeans down 0.5% for the week
- Corn down nearly 0.5% for the week
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Kenya senate votes to impeach deputy speaker Kindiki
- Egypt starts marketing 3-tranche dollar bonds
- Key African countries on lockdown or restricted; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- Nigeria’s economy to shrink 8.9% in worst case – finance minister
- Threat to hit Turkey in Libya underscores risk of escalation
- Ethiopia to sell 40 pct of Ethio Telecom – Minister
- Seychelles considers admitting Israelis in initial tourism restart
- US reaches consensus with Sudan on ‘contours’ of future claims deal
- South Africa SPAR sees Polish business breaking even in 24 months
- South Africa rand strengthens after cenbank cuts repo rate, stocks fall
- South Africa central bank cuts lending rate by 50 bps
- Hundreds killed in South Sudan tribal clashes – ICRC
- Vodcacom South Africa now a standalone business
- World Bank approves record $500 mln to battle locust swarms
- IMF says over 20 poor countries seek debt relief, extension possible
- Investec Bank CEO sees no sector-wide relief to come from South Africa banks
- Nigeria inflation rose for eighth month at 12.34% in April on higher food prices
- Kenya’s KCB bank sees a quarter of loans hit by coronavirus
- Egyptians rush to buy treats before Eid al-Fitr curfew
- Nigeria black market naira seen under pressure; in week ahead
- South Africa Cell C to place some assets in SPV – regulator
- Eskom CEO targets massive debt reduction for sustainable future
- Ethiopia to issue two new telecom operator licenses – regulator
- Nigeria central bank warns against using FX black market
- Egypt gets over $12 bln in orders for three-tranche bonds, tightens guidance – document
- Ethiopia to issue new telecom operator licenses – regulator
- Nigeria – Lagos doctors to end strike after curfew harassment complaint remedied
- South Africa’s Cell C to split some assets into new special purpose vehicle – regulator
- South Africa scientists say up to 50,000 covid-19 deaths possible
- Rwanda economic growth to slow in 2020 due to coroanvirus
- South Africa Tsogo Sun Hotels sees core profit hit from travel restrictions
- Uganda shilling steady helped by auction and commodity exports
- Kenya shilling steady, helped by tight liquidity
- Egypt starts marketing 3-tranche dollar bonds – document
- Rwanda to increase spending 7.5% in 2020/21 – finmin
- South Africa Eskom aims for 200 bln rand debt balance
- Rwanda GDP growth to slow to 2% in 2020 from 9.4% last year – finmin
- South Africa Investec reports 16.8% drop in annual profit
- Losses at Polish business hit South Africa’s Spar half-year earnings
- Uganda women fear food shortages will make coronavirus and HIV a deadly mix
N.B. Full stories of above headlines are available on Reuters