#Africa #Markets | 26 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares turn cautious, dollar loses early edge
  • Nikkei leads Asia higher, but S&P 500 futures fade
  • Dollar losing ground, bonds firm ahead of Fed chief testimony
  • Week ahead packed with data, political risk

Oil Markets

  • Oil hits nearly 3-wk high as Saudi Arabia to keep output well below cap
  • Saudi Arabia Q1 output to be well below production cap – oil min
  • Powerful quake in Papua New Guinea disrupts oil, gas operations
  • Force majeure declared on Libya’s 70,000 bpd El Feel oilfield
  • US WTI crude for April delivery up 0.3 pct at $63.75 a barrel (0342GMT)
  • London Brent crude up 0.2 pct at $67.43

Precious metals

  • Gold prices rise after worst week in 2-1/2 months
  • Spot gold up 0.1 pct at $1,330.59 an ounce (0118GMT)
  • US gold futures up 0.1 pct at $1,332.3 per ounce

Grains

  • Soybeans hit 1-yr high as dry weather in Argentina to limit production
  • Most active CBOT wheat futures up 1.1 pct at $4.69-1/4 per bushel (0126GMT)
  • Most active corn futures up 0.4 pct at $3.67-3/4 a bushel
  • Most active soybean futures up 0.6 pct at $10.54 a bushel
  • Most active rice futures up 0.5 pct at $12.26 per hundredweight

Soft commodities (23 Feb)

  • Cocoa jumps to 3-month highs, sugar eases
  • May New York cocoa settled up 2.2 pct at $2,194 per tonne
  • May London cocoa settled up 1.4 pct at £1,547 per tonne
  • Cocoa exporters and pod counters in Ivory Coast have revised down forecast for this year’s harvest because of a lack of rain
  • May raw sugar settled down 0.9 pct at 13.46 cents per lb
  • May white sugar settled down 0.3 pct at $361.90 per tonne
  • May arabica coffee up 0.1 pct at $1.21 per lb
  • May robusta coffee settled down 0.5 pct at $1,751 per tonne

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

  • South Africa’s President Ramaphosa cabinet picks expected this week to be in focus, after ruling ANC party executives met on Sunday

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

  • At least two killed in crackdown on march against Congo’s Kabila
  • Nigeria air force deploys air assets in search of missing girls
  • South Africa’s ANC wants to soften impact of higher VAT on poor
  • Nigeria says 110 girls unaccounted for after Boko Haram attack
  • South African regulator probing Steinhoff auditors to continue investigation
  • South Africa’s NUM union says 1,722 jobs to go at Evander Gold mine
  • Egypt uncovers ancient necropolis south of Cairo
  • UN South Sudan mission recalls police unit over sex abuse allegations
  • Libya’s NOC declares force majeure on 70,000 bpd El Feel oilfield
  • Al Qaeda-linked group claims Mali attack that killed 2 French troops
  • Death toll from Somalia blasts rises to 45 – official
  • Kenya’s KenGen says H1 pretax profit down 7 pct
  • Parents of abducted Nigerian girls plan to join Bring Back Our Girls campaign
  • Moody’s affirms Ethiopia’s B1 rating
  • S&P says Zambia ‘B/B’ ratings affirmed outlook stable
  • Donors pledge $500 mln for troops in West Africa’s Sahel
  • Fresh Boko Haram abductions threaten gains for girls’ education in Nigeria
  • Nigeria’s president calls mass schoolgirl abduction “national disaster”
  • Oil rises more than 1 pct as Libyan outage supports
  • Chemical tanker attacked off Somalia, pirates repelled – EU naval force
  • Eight Gupta firms seek insolvency protection in South Africa
  • Five more charged in Tanzania for murder of anti-poaching activist
  • Ghana’s 91-day yield unchanged at 13.34 pct
  • Libya’s El Feel oilfield shut following guards’ protest – sources
  • Next owner of Nigeria’s 9mobile must know the sector, regulator says
  • India’s Jindal plans Namibia’s second iron ore mine – documents
  • South Africa’s Competition Commission prohibits merger between SA Airlink and Safair
  • South Africa’s NUM union to strike at Koornfontein mine
  • Zimbabwe’s slums grow as hard-up residents seek cheaper housing
  • South Africa’s anti-graft watchdog says minister misled parliament
  • South Sudan sentences South African to hang for helping rebel chief
  • Fitch says South Africa’s budget partly reverses fiscal deterioration
  • South Sudand military officers may have committed war crimes – UN
  • Tanzania internet users hit 23 million; 82 pct go online via phones – regulator
  • South Africa’s 3-mth t-bill average yield falls to 7.17 pct
  • Five refugees killed, 20 injured, in Rwanda camp food protest – police
  • Yields fall at South African inflation-linked bond auction
  • Mozambique dollar bonds jump after govt says will present debt plan
  • South Africa’s NUM union says members not paid at Gupta-owned Optimum mine
  • Row over Kenyan oil revenues threatens to delay production
  • Slow economy, financing costs hit Kenya Power’s first-half profit

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

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