#Africa #Markets | 20 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks slip after European surge fades, dollar edges up
  • MSCI Asia-Pacific index falls 0.5 pct, Nikkei drops 1.25 pct
  • European stocks dip overnight, US markets closed Mon for holiday
  • Crude reaches 2-wk highs amid Middle East tensions, gold steady

Oil Markets

  • Oil markets mixed on lower Canadian flows, firmer dollar
  • US crude futures rise on reduced Canadian oil flows
  • Firmer dollar dents international Brent crude
  • Overall markets well supported by ongoing OPEC production cuts
  • US WTI crude futures up 0.8 pct at $62.16 per barrel (0153GMT)
  • Brent crude futures down 0.7 pct at $65.23 per barrel

Precious metals

  • Gold prices inch down as dollar strengthens
  • Spot gold down 0.2 pct at $1,343.22 an ounce (0112GMT)
  • US gold futures down 0.8 pct at $1,345.70

Grains

  • Soybeans firm 1 pct to 7-month high
  • Most active CBOT wheat futures up 0.7 pct at $4.60-3/4 a bushel (0113GMT)
  • Most active corn futures up 0.3 pct at $3.68-1/2 a bushel
  • Most active soybean futures up 1 pct at $10.31-1/2 a bushel
  • Most active rice futures down 0.2 pct at $11.99 per hundredweight

Soft commodities (19 Feb)

  • White sugar prices edge up, robusta falls to 2-week low
  • May white sugar ended 1.3 pct higher at $361.50 per tonne
  • May robusta coffee ended down 0.7 pct at $1,741 a tonne
  • May London cocoa ended 0.2 pct lower at £1,504 a tonne

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

  • South Africa’s new president Cyril Ramaphosa to respond to yesterday’s debate of his State of the Nation Address (SONA) in parliament
  • Zimbabwe opposition leader Morgan Tsvangirai to be interred today
  • East African Community (EAC) heads of state summit tomorrow


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

  • Kenya opposition politicians stopped from leaving the country – Odinga adviser
  • Egyptian firm to buy $15 billion of Israeli natural gas
  • Nigeria convicts 205 Boko Haram suspects in mass trials
  • Nigeria to sell assets seized in anti-graft probes to boost treasury, president says
  • Togo charity wins award for improving access to safe drinking water
  • Uber suspends services in Morocco after two years
  • More than 300 migrants intercepted in boats off Libya – coast guard
  • South Sudan rebels free Kenyan pilots after compensation paid
  • Thousands in Zimbabwe bid farewell to “People’s General” Tsvangirai
  • Without city jobs, tech-savvy Kenyan youth ahead back to the farm
  • France assails Equatorial Guinea claim of immunity of Obiang’s son in graft case
  • South African rand weaker ahead of budget, stocks lower
  • Fitch says Zuma resignation reduces South Africa “policy paralysis risk”
  • Atul Gupta challenges South African asset freeze
  • Ivory Coast hires banks for eurobond
  • Pope backs down after defending Nigerian bishop rejected by locals
  • Mauritius 91-day treasury bills yield rises to 2.81 pct
  • South Africa’s Competition Commission recommends deal allowing Total SA to buy Gulfstream Energy
  • At least 17 killed in Mozambique capital as pile of garbage collapses
  • Kenya’s KenGen says to add extra 1,745MW to grid by 2025
  • Aker Energy buys Hess Ghana business, expects first oil in 2021
  • South African budget to set out “tough” measures to repair post-Zuma economy
  • Nigeria to announce refinery investors in coming month – oil minister
  • New South African leadership credit positive for gold miners – Moody’s
  • Malawi’s tea output up 6 pct in 2017
  • Ugandan shilling steady, tax payments squeeze dollar demand
  • Malawi cholera cases pass 500, eight people dead
  • Kenyan shilling stable against the dollar
  • Egypt says 3 soldiers killed in campaign against militants
  • Offshore investors net buyers of South African stocks, bonds

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

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