#Africa #Markets | 16 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares extend bounce to 5th day, dollar sags to 3-year low
  • Shares extend recovery as volatility gauges drop
  • Fall in Vix futures suggest position unwinding over for now
  • Dollar index hits 3-year low
  • Nikkei firms as Kuroda reappointed in sign of continued stimulus
  • European sharea seen up 0.3-0.4 pct at open

Oil Markets

  • US oil hits 1-wk high as dollar sags; many Asian markets shut
  • NYMEX crude for March delivery up 0.3 pct at $61.51 a barrel (0750GMT)
  • London Brent crude up 0.4 pct at $64.58

Precious metals

  • Gold prices head for biggest weekly gain in nearly 2 years
  • Spot gold up 0.4 pct at $1,358.40 an ounce (0801GMT)
  • US gold futures up 0.4 pct to $1,360.90


  • Soybeans firm, set for biggest weekly gain in 7 months
  • Most active CBOT wheat futures up 0.4 pct at $4.63-3/4 a bushel
  • Most active corn futures up 0.1 pct at $3.68-1/4 a bushel
  • Most active soybean futures up 0.1 pct at $10.24-3/4 a bushel
  • Most active rice futures unchanged at $11.95 per hundredweight

Soft commodities (15 Feb)

  • Cocoa at 3-month high on weak dollar, speculative buying
  • May New York cocoa settled up 2.4 pct at $2,134 per tonne
  • May London cocoa settled up 1.1 pct at £1,501 per tonne
  • May raw sugar settled up 1.5 pct at 13.51 cents per lb
  • May white sugar settled up 1.1 pct at $361.10 pe tonne
  • May robusta coffee settled up 0.1 pct at $1,783 per tonne
  • May arabica coffee settled down 0.8 pct at $1.2415 per lb

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

  • South Africa’s new president Cyril Ramaphosa to deliver first State of the Nation Address (SONA) today

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

  • African startups bet on blockchain to tackle land fraud
  • South African rand rises further after Ramaphosa sworn-in as president
  • Mauritius 4-year central bank notes yield at 3.79 pct
  • Egypt military says 53 militants killed in week-long offensive
  • S&P says Nigeria’s proposed eurobond assigned ‘B’ issue rating
  • New Tunisian central bank chief promises “extraordinary measures”
  • Egypt’s central bank cuts interest rates as inflation eases
  • Nigerian economic body and state oil firm discuss gasoline price change
  • Uganda to widen relief fraud probe to UN staff, vows reforms
  • Ethiopia’s prime ministe resigns to smooth path for political reform
  • Nigerian court sets Malabu oilfield corruption case hearing for June 18
  • Investors put strong cabinet at top of South Africa’s to-do list
  • Congo defends right to explore for oil in national parks
  • Months after mudslide, Sierra Leone childrens struggle to stay in school
  • Congo says soldiers killed in border skirmish in Rwanda
  • Ramaphosa elected president of South Africa,vows anti-corruption fight
  • Ethiopia 2024 dollar bond hits 6-mth low after PM resigns
  • Nigeria launches US$2.5 bn dual-tranche bond
  • South African stocks in demand after Zuma quits, rand soars
  • South Africa’s Tutu quits as Oxfam ambassador over aid agency’s sex scandal
  • Yield on Kenya’s 91-day, 182-day and 364-day t-bills dip at auction
  • Botswana’s inflation cools to 3.1 pct in January
  • Zimbabwe’s president leads tributes to opposition leader Tsvangirai
  • Ftich rates Nigeria’s upcoming USD notes ‘B+(Exp)’
  • Nigeria tightens pricing on dual-tranche bond
  • Zambian kwacha seen gaining, Ugandan shilling losing; in week ahead
  • South Africa declares Gupta brother “fugitive from justice”
  • South Africa rating outlook not immediately affected by leadership change – S&P
  • Kenya court revokes deportation of opposition-linked lawyer
  • Zimbabwe inflation quickens to 3.52 pct y/y in January
  • Nigeria “not ruffled” by oil price drop, OPEC must focus on costs – Kachikwu
  • Kenya to appeal court ruling reversing deportation of opposition lawyer
  • South Africa oppostion EFF says will boycott election of new president Thursday
  • Moody’s says focused on policy implications from Zuma’s resignation
  • South African police arrest eight in influence-peddling probe
  • Namibia inflation slows to 3.6 pct in January

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

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