#Africa #Markets | 21 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks led higher by Japan as dollar extends recovery
  • MSCI Asia-Pacific index up 0.5 pct, Nikkei rises 0.65 pct
  • Dollar recovery continues, currency hits 1-week high
  • Crude oil slips on stronger dollar

Oil Markets

  • Oil prices fall as US dollar firms
  • US WTI crude futures at $61.37 a barrel, down 0.7 pct (0144GMT)
  • Brent crude futures down 0.6 pct at $64.89 per barrel

Precious metals

  • Gold falls further as higher yields prop up dollar
  • Spot gold down 0.1 pct to $1,328.65 an ounce (0130GMT)
  • US gold futures down 0.01 pct at $1,331.1 per ounce


  • Soybean prices edge down, but still close to highest in nearly 7 mths
  • Most active CBOT soybean futures dwon 0.4 pct at $10.22 a bushel (0201GMT)
  • Most active corn futures down 0.1 pct at $3.65-1/4 a bushel
  • Most active wheat futures down 0.2 pct at $4.48-1/2 a bushel
  • Most active rice futures up 0.04 pct at $11.86 per hundredweight

Soft commodities (20 Feb)

  • White sugar slips on ample supplies, arabica coffee at 2-mth low
  • May white sugar settled down 1 pct at $357.90 per tonne
  • May raw sugar settled up 0.1 pct at 13.29 cents per lb
  • May arabica coffee settled down 0.6 pct at $1.197 per lb
  • May robusta coffee settled up 1.7 pct at $1,770 per tonne
  • May London cocoa settled up 0.8 pct at £1,516 per tonne
  • May New York cocoa settled up 0.7 pct at $2,148 per tonne

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

  • South Africa’s finance minister to deliver 2018 budget speech in parliament today
  • South African inflation data for January expected [fcst. 4.4% yy, prev. 4.7%, est. 4.5%]

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

  • Anadarko agrees Mozambique LNG sale, banks discuss finance terms
  • Congo’s Kabila replaces interior minister amid declining security
  • Congo approves logging near carbon-rich peatlands
  • One year on, OPEC gets closer to original target of oil cut pact
  • Congo refugees in Rwanda say soldiers shoot and wound at least two during food protest
  • US sanctions Burkina Faso-based group over terrorism threat
  • South African rights group challenges Zuma rule on influence-peddling inquiry
  • UN refugee agency says donors withhold funds until Uganda numbers checked
  • Fitch rates Nigeria’s USD notes ‘B+’
  • Clinging to tree tops, Zimbabweans bid farewell to Tsvangirai
  • IMF stops Kenya’s $1.5 bln standby credit after deficit clash
  • Nigeria treasury yields drop after eurobond helps pay off maturities
  • Pressure on EU’s southern borders from African migrants seen persisting in 2018
  • South African rand, stocks slip ahead of budget speech
  • Tanzania’s new mining rules impose restrictions on foreign banks, insurers
  • South Africa’s Ramaphosa to screen officials’ lifestyles as he picks government
  • South Africa has till 2019 elections to cash-in on global windfall – Citi
  • Kenya’s KenGen says to add extra 1,745MW to grid by 2025
  • Zambia cholera epidemic continues to slow as number of deaths declines
  • Congo’s Kabila yet to sign new mining code as deadline nears
  • Off-grid power pioneers pour into West Africa
  • Egypt puts prominent politician critical of Sisi on terrorism list
  • UN warns of extraordinary humanitarian disaster in southeast Congo
  • South Africa’s Ramaphosa says land expropriation won’t be “smash and grab”
  • Congo seeks relief talks with oil traders over $2 bln debt
  • South African business counts on Ramaphosa to plot path to growth
  • Senegal’s Sonatel 2017 net profit falls 6 pct
  • Kenya allows opposition figures to travel after barring them overnight
  • Uganda shilling stable, forecast to weaken
  • Mauritius 5-year treasury bond yield rises to 4.65 pct
  • Ghana says received keen Asian interest in its sovereign debt
  • Yields lower in weekly South Africa govt bond auction
  • AngloGold to revive historic Ghana asset after illegal miners ousted
  • South African minister orders Transnet to report irregularities over locomotive contract
  • Kenya shilling steady, expected to firm due to remittances
  • South African deputy finance minister says budget will be presented by Gigaba

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

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