#Africa #Markets | 2 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Blowout in bond yields rattles Asian stocks, buoys euro
  • Euro near multi-year peaks on yen, dollar
  • Bond yields spike as inflation expectations flare
  • BOJ offers to buy unlimited bonds to stop yields rising
  • Bitcoin tumbles further from December’s record high

Oil Markets

  • US oil prices extend gains on compliance with output cuts
  • US WTI crude up 0.5 pct at $66.12 a barrel (0108GMT)
  • Brent futures up 0.3 pct at $69.84 a barrel

Precious metals

  • Gold dips ahead of US jobs data
  • Spot gold dipped 0.1 pct to $1,346.90 per ounce (0109GMT)
  • US gold futures up 0.2 pct at $1,350.60 per ounce


  • Wheat edges lower, set to finish week up 2pct
  • Most active CBOT wheat futures down 0.2 pct at $4.50-1/4 a bushel (0148GMT)
  • Most active corn futures down 0.1 pct at $3.61-1/2 a bushel
  • Most active soybean futures up 0.03 pct at $9.85-1/4 a bushel
  • Most active rice futures down 0.3 pct at $12.37 per hundredweight

Soft commodities (1 Feb)

  • Raw sugar rebounds from plunge, NY cocoa at 2-month high
  • March raw sugar settled up 1.1 pct at 13.37 cents per lb
  • May white sugar settled up 0.3 pct at $357.50 per tonne
  • March New York cocoa settled up 1.1 pct at $2,017 per tonne
  • March London cocoa settled up 0.6 pct at £1,408 per tonne
  • March arabica coffee settled down 0.4 pct at $1.214 per lb
  • March robusta coffee settled up 0.4 pct at $1,769 per tonne

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

  • Kenya govt ignores court order suspending shutdown of 3 TV stations
  • Nigeria bobsledders welcomed home in Lagos ahead of Games
  • UN sounds alarm on South Sudan as Africa’s biggest refugee crisis looms
  • German military to end role in EU training session in Somalia
  • Nigeria’s Buhari nominates new central bank deputy governor
  • South Africa’s National Treasury asks regulator to probe Viceroy’s conduct
  • Africa’s Ecobank to focus on existing markets using phones
  • South Africa’s rand edges lower, Naspers drags bourse down
  • Botswana’s govt spending to rise 13.6 pct this year – budget
  • Sibanye gold miners in South Africa stuck underground, not in danger
  • South Africa’s Zuma to meet ANC top 6 over his future – state broadcaster
  • South Africa’s Capitec dismisses Benguela global fund report
  • Yields on Kenya’s 182-day, 364-day t-bills dip at auction
  • Angola’s Sonangol plans to build refineries (receives 63 proposals), end fuel imports
  • Guinea’s GDM ships first bauxite ore
  • South Africa’s new vehicles sales down 8.9 pct y/y in January
  • Expansion of Ethiopia’s first industrial park reopens old wounds
  • Zambian currency seen firm, Tanzania’s bearish in coming week
  • South Africa’s NUM received notice from Aveng to retrench 2,863 workers
  • Angola’s Sonangol to award rare fuel import tender by mid-February
  • Alpine skiing South Africa send lone participant to Winter Olympics
  • Tanzania’s Acacia Mining hedges gold output at $1,320 an ounce
  • Nigeria sells longer term treasuries at higher yields to draw funds
  • South Africa’s Zuma to deliver parliamentary speech as scheduled – parliament
  • South Africa’s Absa PMI rises in January to hit 9-mth best
  • Zimbabwe’s Zimplats quarterly profit surges 69 pct on higher sales
  • Foreign investment in Egypt’s domestic debt at about $19.8 bln finmin tells paper
  • South Africa’s Zuma asks prosecutors to drop graft charges
  • Kenyan journalists, fearing arrest, camp out in their newsroom
  • S&P rating of South Africa’s Capitec not hurt by Viceroy reports

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

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