#Africa #Markets | 30 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks off record highs as Wall St flags, dollar firms on higher yields
  • MSCI Asia-Pacific index down 0.5 pct, pulls away from record
  • Dollar off 3-yr low as US yields climb to near 4-yr highs
  • Dollar’s bounce weighs on commodities like oil, gold
  • Trump’s State of the Union address awaited for clues

Oil Markets

  • US oil extends decline weighed down by dollar, rising output
  • US WTI crude futures 0.2 pct lower at $65.43 a barrel (0027GMT)
  • Brent crude futures down 1.5 pct at $69.46 a barrel

Precious metals

  • Gold edges down on firmer dollar, higher bond yields
  • Spot gold down 0.1 pct at $1,338.40 per ounce (0051GMT)
  • US gold futures down 0.2 pct at $1,337.60 per ounce

Grains

  • Wheat prices hit 4-mth high on worries over US crop condition
  • Most active CBOT wheat futures up 0.8 pct at $4.52-3/4 a bushel (0148GMT)
  • Most active soybean futures up 0.1 pct at $9.92-1/4 a bushel
  • Most active corn futures up 0.1 pct at $3.59-1/4 a bushel
  • Most active rice futures down 0.2 pct at $12.41 per hundredweight

Soft commodities (29 Jan)

  • Raw sugar jumps after speculators take record bearish stance
  • March raw sugar settled up 2.3 pct at 13.67 cents per lb
  • March white sugar settled up 1.6 pct at $361.40 per tonne
  • March arabica coffee settled down 0.2 pct at $1.2495 per lb
  • March robusta coffee settled down 0.6 pct at $1,757 per tonne
  • March London cocoa settled down 0.8 pct at £1,370 per tonne
  • March New York cocoa settled down 2 pct at $1,946 per tonne

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • Kenya inflation data for Jan-18 expected [fcst. 3.8% yy, prev. 4.5%]
  • Uganda inflation data for Jan-18 expected [fcst. 3.6% yy, prev. 3.3%]

Key African events or data releases yesterday
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • African Union joins growing chorus demanding sanctions on South Sudan war
  • Cameroonian seperatist leader is deported to Cameroon from Nigeria
  • China denies report it hacked African Union headquarters
  • Morocco’s currency move a step in right direction – IMF
  • Libya’s eastern parliament swears in new central bank governor
  • African states launch single aviation market to boost economic growth
  • Egyptian politician emerges as sole election challenger to Sisi
  • Angola leaves benchmark lending rate at 18 pct
  • Ghana likely to hedge oil imports as prices rebound – source
  • African Union warns against rush to elections in Libya
  • Statoil quits talks over stake in Mozambique offshore gas block
  • Fossil of school bus-sized dinosaur dug up in Egyptian desert
  • Mozambique takes legal action over $2 bln loans
  • South African rand weakens on dollar recovery; eyes on Eskom
  • South Africa’s Steinhoff plugs Austrian funding gap, signals growth plans
  • Dry spell endangers Zimbabwe crops, govt says has enough maize reserves
  • Cyril Ramaphosa’s brother joins board of South Africa’s Curro
  • Egypt, Ethiopia and Sudan hope to break Nile dam talks deadlock in one month
  • Botswana power plant expansion plan stalls over terms
  • South Africa’s competition tribunal conditionally approves Steinhof-Action Ford deal
  • South Africa’s Aspen to start review of infant milk formula unit
  • Ugandan shilling stable amid liquidity tightness
  • Zimbabwe election body accused of tender “impropriety”
  • South Africa’s Eskom to publish financial results on Tuesday
  • Global green bond issuance rose to $163 bln in 2017 – research
  • Opel exports to Morocco, Tunisia to start in April
  • Kenyan shilling strengthens slightly on offshore demand
  • IFC extends $62 mln loan to South Africa’s Mercantile Bank
  • Anglo-American sells South Africa’s Eskom-tied coal assets for $71 mln
  • South Africa’s Steinhoff creditors hire PJT, Latham & Watkins for any debt restructuring
  • South Sudan rebel group releases 15 prisoners
  • Outotec signs a delivery agreement in DR Congo
  • Offshore investors net buyers of South African stocks, sell bonds

N.B. Full stories of above headlines are available on Reuters

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