#Africa #Markets | 15 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks climb despite rise in US inflation; dollar on defensive
  • MSCI Asia-Pacific index up 1.3 pct, Nikkei gains 1.5 pct
  • Spreadbetters expect European stocks to open higher
  • Asia lifted as Wall St shrugs off strong US CPI and rallies
  • Dollar remains on defensive, hits 15-month low vs yen
  • Crude oil, gold supported by dollar weakness

Oil Markets

  • Oil extends gains on Saudi commitment to cut, weak dollar
  • Saudi Arabia says it is committed to cut throughout 2018
  • Weak dollar potentially spurs fuel demand
  • But US crude inventories rise as production hits fresh record
  • US WTI crude futures at $61.02 a barrel (0147GMT), up 0.7 pct
  • Brent crude futures at $64.64 per barrel, up 0.4 pct

Precious metals

  • Gold holds steady near 2-1/2-week high as dollar dips
  • Spot gold up 0.1 pct to $1,351.96 an ounce (0202GMT)
  • US gold futues down 0.2 pct to $1,355 per ounce

Grains

  • Soybeans extend gains on Argentina dry weather woes
  • Most active CBOT soybean futures up 0.2 pct at $10.19 a bushel (0217GMT)
  • Most active wheat futures up 0.4 pct at $4.57-1/2 a bushel
  • Most active corn futures up 0.1 pct at $3.67-1/2 a bushel
  • Most active soybean futures up 0.2 pct at $10.19 a bushel
  • Most active rice futures down 0.6 pct at $12.18 per hundredweight

Soft commodities (14 Feb)

  • New York cocoa surges to 2-1/2-month high on firm British pound
  • May New York cocoa settled up 2.4 pct at $2,084 per tonne
  • May London cocoa settled up 1 pct £1,485 per tonne
  • March robusta coffee ended up 0.3 pct at $1,811 a tonne
  • May arabica coffee settled up 0.04 pct at $1.251 per lb
  • May white sugar settled down 0.9 pct at $357.10 per tonne
  • May raw sugar settled down 1 pct at 13.31 cents per lb

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

  • New South African president Cyril Ramaphosa to be inaugurated; after Zuma resignation


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

  • South African rand hovers near 3-yr highs after Zuma quits
  • Liberia’s new president orders review of concession agreements
  • S. says watching South African political developments ‘with interest’
  • Zuma quits, ending scandal-plagued term as South African president
  • South Africa’s ANC says Zuma’s resignation gives country certainty
  • South Africa’s Zuma quits after party turns against him
  • Zambia’s President Lungu appoints new finance, mining ministers
  • Egypt orders detention of former Islamist presidential candidate
  • Tunisian central bank governor resigns on prime minister’s request
  • Malawi’s economy to grow as much as 5 percent in 2018 – IMF
  • Zimbabwe opposition leader Tsvangirai dies in South Africa
  • Banks chosen to manage new Ivory Coast Eurobond issue, PM says
  • Tanzania police probe death of opposition campaigner
  • Ask “Dr. Love”: mobile app teaches Congolese youth about safe sex
  • South Africa’s ANC: Zuma’s behaviour threatens state security
  • “We are overwhelmed,” senior refugee official says of east Congo crisis
  • Nigeria raised 176 bln naira in treasury bills on lower yields
  • First person convicted for Nigeria’s Boko Haram schoolgirl kidnap
  • Efforts to upgrade Kenya’s slums undermined by graft, lack of consultation – researchers
  • Africa Crude-Qua offered higher, Angolan market quiet
  • South African rand hits 2-1/2-year high as ANC prepares to push out Zuma
  • Ghana reports severe bird flu on farm – OIE
  • Dutch plan to build giant offshore solar power farm
  • Ethiopia frees journalist jailed since 2011
  • Cairo butcher offers shelter for children with cancer
  • Sudan inflation spikes to 52.37 pct in January after currency slide
  • Libya’s supreme court blocks legal challenges to draft constitution
  • UK freezes $800,000 in assets under Congo sanctions
  • Tunisian central bank governor says will resign after PM asked him to quit-parliament website
  • Nigeria selling 176 bln naira treasury bills on Wednesday -traders
  • South Africa’s ANC says positive to hear Zuma will not defy party
  • Australia’s EMR Capital plans to double output at Zambia’s Lubambe copper mine
  • Angola approves 2018 state budget forecasting 4.9 pct growth
  • South Africa’s Zuma says ANC order for him to step down is “unfair”
  • Algeria’s Sonatrach, Italy’s Saipem agree to end disputes – executives
  • Scientists, fishermen in Macedonia team up to save rare trout
  • Appeal court rules Nigerians cannot pursue Shell spill claim in England
  • Iraq wheat, rice imports to depend on local harvest in 2018 – minister
  • Angola’s inflation slows to 22.72 percent year/year in January
  • Egyptian authorities detain former Islamist presidential candidate
  • Hungary to invest $172 mln in Angolan economy
  • Tanzania police probe death of opposition campaigner
  • No Gupta family member arrested in South Africa police raids -lawyer
  • Libya’s supreme court blocks legal challenges to draft constitution
  • Algeria’s Sonatrach, Italy’s Saipem agree to end disputes – executives
  • Appeal court rules Nigerians cannot pursue Shell spill claim in England
  • Zuma no-confidence motion set for Thursday – South Africa parliament
  • South Africa’s ANC wants budget speech to go ahead as planned next Wednesday
  • Egypt says signs seismic survey deal with Schlumberger
  • South African cement maker PPC appoints permanent CEO
  • Egypt’s GDP growth for Q2 of 2017/18 fiscal year at around 5.3 pct – minister
  • South Africa’s retail sales rise 5.3 percent y/y in December
  • Ivory Coast inflation falls to 0.2 pct year-on-year in Jan
  • South Africa’s ANC will back no-confidence vote in Zuma on Thursday
  • Angola appoints Goldman, Deutsche, ICBC to lead $2 bln Eurobond issue
  • South Africa police minister denies Zuma to be arrested
  • Algeria’s Sonatrach, Italy’s Saipem agree to end disputes – executives
  • Yields on Uganda’s Treasury bills climb at auction
  • Kenya shilling under pressure against the dollar
  • South African police arrest three people in Johannesburg raids
  • Kenya’s economy to expand by 5.8 pct this year – finance ministry
  • Nigerian inflation slowed for 12th month in Jan -stats office
  • Nigerian annual inflation at 15.13 pct in January -stats office
  • South African police target Gupta’s Oakbay holding company – security guard
  • Kenya Treasury says economy to expand by 5.8 pct this year


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

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