#Africa #Markets | 31 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Asia stocks slip as high bond yields weigh, dollar steadies
  • MSCI Asia-Pacific index pulls back from record
  • Sharp drop in US shares weigh on Asian equities
  • Broader equities capped by recent rapid rise in yields
  • Crude oil extends losses amid risk aversion

Oil Markets

  • Oil prices fall for third day on inventory build
  • US WTI futures down 1 pct at $63.87 (0012GMT)

Precious metals

  • Gold treads water ahead of Trump speech, Fed meeting
  • Spot gold little changed at $1,337.60 per ounce (0114GMT)
  • US gold futures up 0.2 pct at $1,337.60 per ounce

Grains

  • Chicago wheat rises for 6th day in longest rally since June
  • Most active CBOT wheat futures contract up 0.1 pct at $4.57-1/2 a bushel (0227GMT)
  • Most active corn futures contract up 0.1 pct at $3.62 a bushel
  • Most active soybean contract down little changed at $10.00 a bushel
  • Most active rice contract down 0.9 pct at $12.30 per hundredweight

Soft commodities (30 Jan)

  • Raw sugar prices turn lower as excess supplies weigh
  • March raw sugar off 0.6 pct to 13.59 cents per lb (1302GMT)
  • March white sugar down 0.6 pct to $359.40 per tonne
  • March London cocoa down 0.5 pct to £1,363 a tonne
  • March New York cocoa up 0.5 pct at $1,955 a tonne
  • March arabica coffee off 0.6 pct at $1.2425 per lb
  • March robusta coffee down 0.3 pct to $1,752 a tonne

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

  • Reaction by Kenyan authorities to opposition leader Raila Odinga swearing-in to be in focus
  • 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]

  • Kenya’s government suspends broadcasters as Odinga takes symbolic oath
  • Zimbabwe to take over steelmaker’s $500 million debt
  • Female leaders fear women being sidelined in Nigeria’s 2019 elections
  • South African stocks post biggest daily fall in 14 months
  • Kenya government: Opposition ‘resistance movement’ is criminal group
  • South Africa’s Winnie Madikizela-Mandela discharged from hospital after kidney infection
  • Dams that supply South Africa’s Cape Town fall further as water crisis looms
  • Libyan oil output hindered by budget cuts, NOC head says
  • Mugabe’s demise brings hope to Zimbabwe’s ousted white farmers
  • Egypt’s ex-army officers pose growing security threat
  • South Africa’s Steinhoff notifies Dutch regulator about delay to 2017 results
  • South Africa December budget surplus narrows year/year
  • South Africa’s Eskom cannot commit to nuclear expansion – acting CFO
  • Ugandan shilling broadly stable on weak demand, liquidity squeeze
  • Egypt agrees $3 bln financing deal with International Islamic Trade Finance Corp
  • Botswana’s rough diamond exports fell 17 pct last year
  • South Africa’s Capitec falls 25 pct after report by Viceroy Research
  • Ivory Coast resells 80,000 T of default risk cocoa
  • Zimbabwe’s chamber of mines expects 2018 gold to rise to record highs of 30 tonnes
  • Prolonged premium draws more West African cocoa to US
  • South Africa’s central bank says Capitec solvent, well-capitalised
  • South Africa’s Eskom H1 profits down 34 pct, new board aims to stabilise firm
  • South Africa’s Capitec not been approached by Viceroy for insight into business
  • Yields mostly higher in weekly South Africa govt bond auction
  • Egypt sees budget deficit at 9.4 pct/GDP in 2017-18 – deputy finmin
  • Kenya police fire teargas to disperse opposition supporters
  • Egypt foreign reserves sufficient for 8 months’ imports – c.bank official
  • South Africa’s Dec credit demand growth quickens to 6.72 pct

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

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