By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks going nowhere as virus fears hold optimism in check
- MSCI AxJ grinds 0.5% weekly gain, Nikkei flat
- Dollar steady as investors see risks balanced
Oil Markets
- Oil prices crawl up on demand recovery, tempered by virus outbreaks
- Brent up 0.5% at $41.27 a barrel (0009GMT)
- WTI up 0.4% at $38.87
Precious metals
- Gold on track for third weekly gain as virus cases surge
- Spot gold up 0.1% at $1,763.48/oz. (0042GMT)
- US gold futures up 0.2% at $1,773.60/oz.
Grains
- Corn firms; set for weekly losses of more than 4% on supply glut, low demand
- Corn futures down more than 4% for the week
- Soybeans down nearly 1% for the week
- Wheat up more than 1% for the week
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Ghana’s ruling NPP declares Nana Akufo-Addo as presidential flagbearer (27 Jun)
- Kenya senate decides fate of impeached Kirinyaga county governor Waiguru
- Corporate Council on Africa leaders forum; Kagame, Kenyatta, Nyusi & Akufo-Addo key speakers; 23-26 Jun
- 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
- In China’s ‘Little Africa’, a struggle to get back to business after lockdown
- Malawi’s opposition appears to win presidential election re-run
- Congo aims to launch state cobalt monopoly in two months, mines minister
- Commander in Somalia militant group killed – state media
- Morocco’s OCP to commission Nigeria, Ghana plants in 2024
- Ivory Coast to allow international flights from July 1
- Donors pledge $1.8 bln for Sudan’s troubled transition
- Egypt’s Eva Pharma begins producing covid-19 drug Remdesivir
- Egypt central bank keeps benchmark rates on hold
- Ivory Coast says Burkina Faso national led deadly attack against army
- At least 10 aid workers kidnapped in southwest Niger
- South Africa Airways restructuring vote delayed until next month
- Africa Oil – European gasoline margins boost hope for Nigeria exports
- South Africa rand recovers after gloomy budget; stocks fall
- Malawi opposition’s Chakwera leads re-run with 60% – state broadcaster mbc
- Djibouti sets up sovereign wealth fund, targets $1.5 bln in 10 yrs
- Nigeria banks to restructure over a third of loans – MPC member
- Kenya central bank holds key rate at 7.0% for the second time
- Egypt national carrier to resume flights from July
- Western donors pledge some $900 mln for Sudan’s transition
- Ghana bank governor fears ballooning deficit not sustainable
- Turkey says Libya’s GNA demands Haftar withdraw from Sirte, Jufra
- Congo announces end of ebola outbreak in east, second deadliest on record
- Zambia sees 2020 expenditure up $1.1 bln as kwacha falls
- South Africa retailer Mr Price pulls plug on Nigeria
- South Africa mines record six covid-19 deaths, 1,796 cases
- Botswana issues maiden power generation licences to private producers
- Nigeria’s covid-19 outbreak could impoverish 5 mln people, World Bank says
- Uganda shilling trades unchanged supported by month-end flows
- Nigeria’s cenbank aims to boost foreign reserves to support naira
- Algeria’s Sonatrach, Total extend LNG supply deal – Sonatrach statement
- Egypt’s Rameda gets requests to export covid-19 drug – CEO
- Civil society groups tell Congo to reject AJN Resources deal
- Senegal president self-quarantines after contact with covid-19 case
- South Africa’s Harmony raises $200 mln in share sale
- South Africa’s Exxaro Resources expects dip in coal production, sales volumes
- South Africa’s Mr Price full-year earnings fall, scraps dividend
N.B. Full stories of above headlines are available on Reuters