#Africa #Markets | 9 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

 Global Markets

  • Asia hit by fresh Wall St falls, China stocks reach multi-month lows
  • MSCI Asia-Pacific index falls 2.3 pct, Nikkei loses 3.2 pct
  • Shanghai stocks slide to lowest since May 2017
  • Equities tumble after Wall St enters correction territory
  • Perceived safe-havens such as yen, Swiss franc supported
  • Crude oil near 7-week low

Oil Markets

  • US oil falls for sixth day as supply fears mount
  • Brent futures down 0.6 pct at $64.43 a barrel (0146GMT)
  • US WTI crude down 0.9 pct at $60.61

 Precious metals

  • Gold up on safe-haven buying as equities drop
  • Spot gold up 0.1 pct at $1,320.72 an ounce
  • US gold futures up 0.3 pct at $1,322.60 per ounce

Grains

  • Wheat edges lower, but set to end week up nearly 2 pct
  • Most active CBOT wheat futures down 0.3 pct at $4.54-3/4 a bushel (0159GMT)
  • Most active corn futures down 0.2 pct at $3.65 a bushel
  • Most active soybean futures down 0.1 pct at $9.86-3/4 a bushel
  • Most active rice futures down 0.3 pct at $12.41 per hundredweight

Soft commodities (8 Feb)

  • Cocoa climbs on short-covering, sugar slips on ample supplies
  • May New York cocoa settled up 1.1 pct at $2,060 per tonne
  • March London cocoa settled up 0.8 pct at £1,460 per tonne
  • March raw sugar settled down 3 pct at 13.58 cents per lb
  • May white sugar settled down 2.3 pct at $357.10 per tonne
  • March arabica coffee settled down 0.4 pct at $1.2285 per lb
  • March robusta coffee settled up 0.4 pct at $1,793 per tonne

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

  • The Global Fund grants Mozambique $515 mln to fight AIDS, TB and malaria
  • Nigeria’s president denies cattle grazing plan is “colonization”
  • Uganda says suspends officials suspected in relief scandal
  • Tillerson to visit Jordan, Turkey, Lebanon, Egypt, Kuwait next week
  • Gambia rejoins Commonwealth as it seeks to rebuild world standing
  • UPDATE 1-Ghana sells 1.99 bln cedis worth of 5-yr local bonds at 16.5 pct
  • Russian fertiliser tycoon to boost sales in Zimbabwe, Zambia
  • BRIEF-Yields On Kenya’s Central Bank 91-Day, 365-Day T-bills Rise At Auction
  • Ghana sells 1.99 bln cedis worth of 5-yr local bonds at 16.5 pct
  • UPDATE 1-South African rand edges firmer as Zuma exit looms, stocks lower
  • UPDATE 2-Egypt inflation falls to lowest levels since currency float – c.bank
  • Kenya’s tourism revenues jump 20 pct in 2017
  • Ethiopia pardons 746 prisoners, including journalist, dissident
  • Thursday, 8 Feb 2018
  • UPDATE 1-South Africa’s Gold Fields says headline earnings to fall up to 12 pct
  • South Africa’s Transnet to lease rolling stock to Zambia Railways
  • UPDATE 1-Final Kenyan television shut down by government back on air
  • South Africa dollar bonds fall as Zuma deadlock continues
  • Egypt’s core inflation falls to 14.35 pct yr/yr in Jan -central bank
  • BRIEF-Ascencia Posts HY Pretax Profit Of 210.5 Mln Rupees
  • LPC-Banks sell out of Steinhoff, as hedge funds snap up paper
  • Randgold could lose $10 mln a year under proposed Congo mining code
  • Political shifts lift investor mood in southern African mining
  • Thursday, 8 Feb 2018
  • EXCLUSIVE-“We are in a war”: Cameroon unrest confronted by army offensive
  • N. expects Congo offensive against eastern rebels to displace 370,000
  • WEEKAHEAD-Ghana’s cedi, Kenya shilling seen firmer; Tanzania shilling to weaken in week ahead
  • UPDATE 1-Algeria’s Sonatrach to invest $56 bln from 2018 to 2022 – CEO
  • Libyan commander wanted by ICC freed after protests – source
  • Kenyan court convicts police officer for 2013 murder of suspected thief
  • UPDATE 1-Tanzania inflation flat at 4.0 pct year-on-year in January
  • South Africa’s December manufacturing output up 2 percent yr/yr
  • Tanzania inflation unchanged at 4.0 pct year-on-year in January
  • Scientists fear resurgence of devastating wheat disease in Britain & Europe
  • South Africa’s ANC was preparing to fire Zuma this week, top official says
  • Iraq signs agreement to build oil refinery near Kirkuk
  • African Union says has no secret dossiers after China spying report
  • Uganda shilling firm as liquidity tightness offers support
  • Kenyan shilling strengthens on agriculture sector inflows, low demand

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

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