#Africa #Markets | 13 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks pull further off 2-month lows as Wall St bounces
  • MSCI Asia-Pacific index up 1 pct, Nikkei rises 0.95 pct
  • Wall St up for 2nd day, restores some calm after last wk’s slide
  • China stocks up, regulator urges shareholders to boost stakes
  • Dollar pullback lifts commodities

Oil Markets

  • Oil prices firm as global stock markets rebound
  • Oil market’s focus shifts towards inventory levels
  • API to report storage estimates on Tuesday, EIA on Wednesday
  • 2018 oil demand to rise by 1.59 mln bpd to 98.6 mln bpd – OPEC
  • Non-OPEC supply growth seen at 1.4 mln bpd – OPEC
  • Global oil markets to rebalance by late 2018 – OPEC
  • Brent crude futures at $62.78 per barrel (0103GMT), up 0.3 pct
  • US WTI crude futures at $59.44 a barrel, up 0.3 pct

Precious metals

  • Gold holds steady on weaker dollar ahead of US data
  • Spot gold mostly unchanged at $1,322 an ounce (0102GMT)
  • US gold futures down 0.1 pct at $1,324.6 an ounce

Grains

  • Wheat prices hit 6-mth high as adverse weather stokes US output concerns
  • Most active CBOT wheat futures up 0.5 pct at $4.66-1/2 a bushel (0224GMT)
  • Most active corn futures down 0.1 pct at $3.66-1/2 a bushel
  • Most active soybean futures at $10.02-1/2 a bushel, up 0.1 pct
  • Most active rice futures at $12.38 a hundredweight, down 0.1 pct

Soft commodities (12 Feb)

  • Cocoa drops as investor-fueled advance stalls; sugar rises
  • May London cocoa on ICE settled down 1.95 pct at £1,459 per tonne
  • ICE May cocoa futures settled down 2.57 pct at $2,007 per tonne
  • March raw sugar settled up 0.44 pct at 13.73 cents per lb
  • March white sugar settled up 0.4 pct at $356.10 per tonne
  • May arabica coffee settled down 0.24 pct at $1.235 per lb
  • May robusta coffee remained unchanged at $1,769 per tonne

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

  • South Africa’s ruling ANC party to hold press conference at 1000GMT today on the outcome of its emergency NEC meeting [Reports suggest President Jacob Zuma has refused his party’s request to resign] #Zexit
  • US tele-briefing on AGOA today at 1230GMT
  • South Africa Q4 labour data to be released

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

  • South Africa’s ANC decides to remove Zuma as head of state – source
  • South African rand slips on reports ANC decides to remove Zuma from office
  • Liberia church massacre survivors sue alleged perpetrator in US court
  • South African military investigates Congo torture reports
  • S&P Says Republic Of Kenya’s Proposed Eurobond Assigned ‘B+’ Issue Rating
  • Tillerson says US backs Egypt on security at start of regional tour
  • South Africa’s ANC gives Zuma 48 hours to resign – state broadcaster
  • On U.N. deaths, Haley asks Congo’s Kabila: what happened to my list?
  • Nigeria resumes mass trial of hundreds of Boko Haram suspects
  • Guinean government warns against ethnic violence after polls
  • S. warns Congo against electronic voting for delayed election
  • Nigeria central bank says injected $210 mln into currency market
  • Zambia lifts fuel prices as kwacha weakens
  • GE & Marinus Energy To Build Waste Gas To Power Plant In Ghana
  • State broadcaster says South Africa’s Zuma agrees to go, spokesman denies
  • Fitch Rates Kenya’s Upcoming USD Notes ‘B+(EXP)’
  • Uber tests cheaper “Hurry Hurry” service for errands in Nairobi
  • South African rand volatile as Zuma exit talks drag on, stocks recover
  • Gupta banker Baroda quits South Africa
  • Cobalt cannot be eradicated from electric car batteries – Umicore
  • South Africa’s Zuma resignation reports “fake news” – spokesman
  • Yield on Egyptian dollar-denominated T-bill slips
  • South Sudan sentences rebel leader’s spokesman to death
  • Nigerian stocks drop for sixth session to one month low
  • Nigeria bourse approves delisting of Seven-Up after takeover bid
  • Bank of Baroda to stop operating in South Africa on March 31
  • Nigerian stocks drop to one month low
  • Liberia’s Johnson Sirleaf wins Mo Ibrahim leadership prize
  • BP Begins Production From Egypt’s Atoll Gas Field Seven Months Ahead Of Schedule‍
  • Mali issues $285 mln, 7-year sukuk -announcement
  • BP, Kosmos move closer to Senegal and Mauritania offshore project
  • Uganda shilling stable amid slowdown in demand
  • South African Reserve Bank Says Bank of Baroda To Exit South Africa Operations
  • Acacia Mining scraps dividend after profit hit by Tanzania export ban
  • Kenyan women club together to leave slum life behind
  • Offshore investors net buyers of South African stocks, sell bonds
  • Gunbattles, airstrikes in Sinai as Egyptian forces hit militants
  • South African rand firms ahead of ANC meeting on Zuma’s fate
  • Kenya shilling at 19-month high against the dollar
  • Dubai Investments Invests $20 Mln In Africa Crest Education Holdings ‍
  • Egypt’s army kills 12 militants in Sinai operation -State TV

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

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