#Africa #Markets | 1 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stock slide, dollar hits 6-wk high as Powell revives Fed rate fears
  • MSCI Asia-Pacific index down 0.35 pct, heads for 3rd day of losses
  • Asia weighed after Wall St suffers worst month in 2 years
  • Hawkish Fed prospects prompts dollar comeback

Oil Markets

  • Oil extends declines on US inventory build
  • US WTI crude for April delivery down 11 cents at $61.53 a barrel (0100GMT)
  • Brent crude for May delivery down 16 cents at $64.57

Precious metals

  • Gold prices fall on strong dollar
  • Spot gold 0.2 pct lower at $1,315.36 an ounce (0106GMT)
  • US gold futures down 0.1 pct at $1,316.7 an ounce

Grains

  • Wheat falls for first time in six session, still near 7-mth high
  • Most active CBOT wheat futures down 0.2 pct at $4.94-1/4 a bushel (0153GMT)
  • Most active corn futures down 0.2 pct at $3.81-1/4 per bushel
  • Most active soybean futures down 0.1 pct at $10.54-1/4 a bushel
  • Most active rice futures up 0.04 pct at $12.55 per hundredweight

Soft commodities (28 Feb)

  • Raw sugar rebounds sharply from 8-mth low as March expires
  • May raw sugar settled up 4 pct at 13.38 cents per lb
  • May white sugar settled up 3.1 pct at $361.30 per tonne
  • May New York cocoa settled down 0.4 pct at $2,218 per tonne
  • May London cocoa settled up 0.4 pct at £1,582 per tonne
  • ICO forecast a global cocoa surplus of 105k tonnes in the 2017/18 season
  • May robusta coffee settled down 0.6 pct at $1,724 per tonne
  • May arabica coffee settled up 0.7 pct at $1.22 per lb
  • Global coffee exports rose 20.7% yy in January

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

  • South Africa ABSA manufacturing PMI for February [prev. 49.9]
  • South Africa new vehicle sales for February [prev. 45.89K]

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

  • Mustang Resources says Mozambiquee issued mining concession
  • South Sudan accuses oil group of pollution, threatens shutdown
  • Nigeria’s ruling party passes vote of confidence in Buhari
  • Nigeria’s people getting poorer, govt to “muddle through”, says IMF
  • Long-lost Nigerian masterpiece found in London sold for $1.4 mln
  • Africa has world’s second-fastest banking growth and profitability – McKinsey
  • MTN Nigeria eyes $5.2 bln debut Lagos listing in July
  • Civilians killed as armed groups clash in Libyan south
  • Teleology preferred bidder for Nigeria’s 9mobile – sources
  • Probe of German military crash in Mali centres on control system “aberration”
  • South African police raid home of author whose book is critical of Zuma
  • Zuma-appointed chief prosecutor fights for job in South Africa’s top court
  • Four UN peacekeepers killed in roadside explosion in Mali
  • Six aid workers killed in Central African Republic attack – UNICEF
  • IMF says Nigeria will “muddle through” with economic policies in the medium term
  • South Africa’s Steinhoff’s Q1 revenue falls, scandal hits working capital
  • IMF expects Mozambique to default on external debt until 2023 – Bloomberg
  • Angola oil production seen steady in 2018 – Sonangol
  • South Africa’s Eskom hit by S&P downgrade, says working on turnaround
  • Nigeria’s FX reserves up 4 pct in past month – cenbank data
  • South Africa’s Tradehold abandons planned listing for Namibian business
  • Fire erupts at Schlumberger facility in Angola – state oil firm
  • India’s Bharti Airtel wants to get out of towers, committed to Africa
  • South Africa’s January trade balance swings to largest deficit in over a decade
  • Egypt’s M2 money supply up 20.45 pct y/y in January – c.bank
  • South Africa body charges St Gobain and others with cartel conduct
  • South Africa’s Eskom signs $2 billion short-term loan with 7 lenders
  • Kenya’s inflation dips slightly to 4.46 pct in Feb
  • South Africa’s mining charter to be finalised in 3 months – mines minister
  • Mali investigating accusations its troops executed civilians
  • Mauritius central bank leave repo rate at 3.5 pct
  • Egypt’s prosecutor urges action against “fake news”
  • At least 10 killed in attack at Nigerian flashpoint for communal clashes
  • Ugandan shilling unchanged, draws support from charity flows
  • LNG project investment thaw as Exxon eyes Mozambique, Qatar
  • Zimbabwe has potential to meet 20 pct of global lithium demand
  • School restarts in South Sudan, in theory
  • Ghana Jan producer price inflation falls to 7.7 pct
  • Angola’s 2018 oil production seen steady at 1.6 mln bpd in 2018
  • South Africa’s January producer inflation lower at 5.1 pct y/y
  • Mauritius offers 10-year treasury bond worth 1.9 bln rupees
  • Kenyan shilling strengthens to 7-day high against the dollar
  • Zimbabwe to impose tax on platinum miners who don’t refine in country
  • South Africa Eskom’s dollar bonds fall after S&P downgrade
  • Uganda’s inflation falls to 2.1 pct in February
  • Total targets final decisions on Myanmar, Ivory Coast LNG projects this year
  • South Africa’s January credit demand growth slows to 5.54 pct

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

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