By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- World shares advance on surprise US job recovery, oil steadies
- US stock futures hit highest since late Feb
- Oil steadies near 3-mth high after output cuts extended
Oil Markets
- Oil prices extend gains on OPEC+ cuts, record China imports
- Brent up 2.1% at $43.19 per barrel (0500GMT)
- WTI up 1.6% at $40.17
- OPEC+ extends record oil production cuts to end-July
- Saudi raises July crude prices sharply
- China’s May crude imports hit record of 11.3 mln bpd
- US producers shut 30% of offshore oil output amid storm
Precious metals
- Gold steadies as surprise US jobs rebound dents demand
- SPDR gold holdings dip on Friday
- Speculators cut bullish positions in COMEX gold
- Spot gold up 0.1% at $1,682.57/oz. (0351GMT)
- US gold futures up 0.5% at $1,691.40/oz.
Grains
- Chicago soybeans firm on strong demand; wheat rebounds
- Soybean futures up 0.2% at $8.69-3/4 a bushel (0048GMT)
- Wheat up 0.2% at $5.16-1/2 a bushel
- Corn up 0.7% at $3.33-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa reopens schools after weeks of closure owing to covid-19
- South Africa SACCI business confidence May-20 [prev. 77.8]
- 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
- Sudan says it has begun talks with IMF on non-funded programme
- Slave trader’s statue torn down in UK amid global inequality protests
- Two major Libya oilfields reopen after months of blockade
- “Numerous” reports of looting in retaken Libya towns, UN says
- Turkey says it may expand cooperation with Libya’s GNA after conflict ends – Milliyet
- Algeria trade deficit deepens on lower energy revenue
- Saudi Arabia raises July crude prices after OPEC+ extends cuts
- UN examines reports of looting in retaken Libya towns
- Egypt net foreign reserves drop by $1 bln to $36.0037 bln in May
- South Africa govt, private hospitals agree deal on covid-19 patients
- Egypt shares jump after IMF agreement announced
- Mexico to sit out extension of OPEC+ oil output cuts
- Men in military fatigues kill at least 20 Mali villagers
- OPEC, Russia extend record oil cuts to end of July
- Egypt offers new Libya plan as Haftar offensive collapses
- Iraq tells OPEC it will cut oil output to comply with quota – OPEC delegate
- South Africa’s MTN faces new allegations in US complaint
- Zimbabwe grain deficit seen widening to 1.17 mln tonnes
- Egypt state banks collect over $10 bln from high-yield savings product
- Nigeria ready to compensate for overproduction in May-June
- G20 pledges more than $21 bln to fight coronavirus
- French army kills [terrorist group’s] North Africa chief Droukdel – armed forces minister
- Libya’s Haftar pulls back east as Tripoli offensive crumbles
- Mali rally against President Keita, demand his resignation
- Africa Oil – Demand firms as OPEC+ meeting looms, Angola sells
- South Africa “junk” bonds back in demand as high-yield lures local, foreign investors
- Cameroon military says missing journalist died in its custody
- WHO continues hydroxychloroquine trial after UK test halts
- South Africa rand hits 11-wk high, stocks gain
- South Africa’s MultiChoice expects to post annual profit
- Nigeria proposes steep basic healthcare budget cuts despite coronavirus
- Nigeria campaigners stage protest over sexual violence
- Zimbabwe police arrest opposition officials in dispute over party HQ
- South Africa covid-19 cases rise and president worries about Cape Town
- Guinea approves SMB-Winning deal for Simandou iron mine project
- Zambia Chamber of Mines says govt tensions with power firm CEC bad for investment
- Ethiopia’s mobile camel libraries keep children from forced labour
- CAR court rejects bid to extend president’s mandate
- South Africa’s Comair intends to cut fleet in half
- Arab Monetary Fund to provide loans of $211 mln to Morocco, $98 mln to Tunisia – WAM agency
- Women hit as Congo faces triple threat of coronavirus, ebola and measles
- South Africa public sector unions take wage dispute to court
- Aker Energy seeks to revive Ghana’s Pecan oilfield development
- Malawi revises down 2020 growth forecast to 1.9% on covid-19 impact
- Swiss prosecutors investigating Mozambique loans
- Uganda shilling strengthens as players pare positions
- WHO denies its representative falsified Equatorial Guinea covid-19 data
- Libya govt says it has entered Haftar stronghold Tarhouna
- Kenya to sell 5-yr, 10-yr bonds in June – central bank
- South Africa net foreign reserves edge up to $45.5 bln in May
- Burundi court affirms ruling party candidate’s presidential victory
- As lockdown fuels food shortages, Africa goes online for groceries
- South Africa dehorns dozens of rhinos to prevent lockdown poaching surge
N.B. Full stories of above headlines are available on Reuters