#Africa #Markets | 23 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares rebound as fidgety US rate fears ebb again
  • MSCI ex-Japan up climbs 1 pct, Nikkei up 0.4 pct
  • In Wall Street, Dow, S&P gained while Nasdaq ticked lower
  • Market seen in ‘holding pattern’ ahead of key data next week
  • Yen holds on gains amid heightened market volatility

Oil Markets

  • Oil edges up on drop in US inventories, but surge in exports caps gains
  • US crude inventories fall – EIA
  • But exports surge while net imports drop to record low
  • US crude output above 10 million bpd
  • US WTI crude futures were at $62.89 a barrel, up 0.2 pct (0206GMT)
  • Brent crude futures up 5 cents at $66.44 a barrel

Precious metals

  • Gold prices inch down on firmer dollar
  • Spot gold down 0.2 pct at $1,329.16 an ounce (0127GMT)
  • US gold futures down 0.2 pct at $1,330.9 per ounce


  • Soybeans edge higher, linger around one-year high
  • Most active CBOT wheat futures up 0.3 pct at $4.52-1/2 a bushel (0119GMT)
  • Most active corn futures down 0.1 pct at $3.66-1/2 a bushel
  • Most active soybean futures up 0.1 pct at $10.33 a bushel
  • Most active rice futures unchanged at $12.02 per hundredweight

Soft commodities (22 Feb)

  • Cocoa falls from 3-mth high, arabica coffee rebounds
  • May New York cocoa settled down 1.2 pct at $2,146 per tonne
  • May London cocoa settled down 0.8 pct at £1,526 per tonne
  • May arabica coffee settled up 1.7 pct at $1.209 per lb
  • May robusta coffee settled down 0.4 pct at $1,759 per tonne
  • May raw sugar settled up 2.3 pct at 13.58 cents per lb
  • May white sugar settled up 1.7 pct at $362.90 per tonne

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 anti-graft watchdog says minister misled parliament
  • Congolese refugees killed in rations protest – Rwandan police
  • Morocco’s annual inflation 1.8 pct in January
  • Anger in Nigerian village as girls still missing after Boko Haram attack
  • South Africa’s Eskom says coal supplier Optimum mine starts business rescue proceedings
  • Mozambique to propose debt restructuring plan to creditors on March 20
  • EU security does not justify African migrants’ suffering – Red Cross
  • Djibouti ends Dubai’s DP World contract to run container terminal
  • DP World accuses Djibouti of illegal seizure of Dorelah port
  • Nigerian state governor says no missing schoolgirls rescued – residents
  • Harvard students learn from McKinsey scandal in South Africa
  • Three top South African retailers stick to plans despite VAT hike
  • South African stocks fall led by Sibanye-Stillwater, rand barely changed
  • Britain warns of Islamic State attacks in South Africa after couple kidnapped
  • Yields on Kenya’s 91-day, 182-day and 364-day t-bills dip at auction
  • Diarrhoea kills 26 Congolese refugees in Uganda, infects hundreds – UN
  • Death toll from listeria outbreak in South Africa more than doubles to 172
  • Kenyan, Ugandan shilling to ease, Ghana cedi to hold steady next week
  • Death toll from Mozambique summer rains reaches 50
  • South Africa budget casts hopeful light on Moody’s review
  • Kenyan shilling weakens, central bank sells dollars
  • South Africa budget a good step, says rating agency S&P
  • Ethiopia releases 1,500 prisoners in eastern Somali region – statement
  • Rwanda sells 5-yr treasury bond worth 15 billion francs
  • Seychelles preserves swathes of marine territory in debt-for-nature deal
  • Nigerian bond auction raises 80 bln naira, less than amount on offer
  • Kenya raises $2 bln eurobond but concerns over deficit linger
  • Rating agencies applaud South Africa’s budget – Treasury
  • Zambia’s finmin says to continue engaging IMF on debt management
  • Algerian consumers, firms feel pinch of import bans
  • Ugandan shilling weakens due to manufacturing, energy sector demand
  • Kenyan shilling weakens, under pressure oil importer demand
  • Zambia’s inflation slows to 6.1 pct in February

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

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