#Africa #Markets | 5 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Shares falter on trade war fears; euro choppy amid Italian uncertainty
  • MSCI Asia ex-Japan hits the lowest since mid-February
  • Dollar near lowest since November 2016 vs yen
  • Trump’s tariff threat met with warnings of retaliation
  • Italian exit polls point to hung parliament

Oil Markets

  • Oil prices climb ahead of OPEC meeting with US shale firms
  • Brent crude up 0.7 pct at $64.81 a barrel (0135GMT)
  • US WTI crude up 0.7 pct at $61.66 per barrel

Precious metals

  • Gold prices gain as dollar weakens amid trade war fears
  • Spot gold up 0.2 pct at $1,324.13 an ounce (0056GMT)
  • US gold futures up 0.2 pct at $1,325.4 per ounce


  • Soybeans edge higher, US-China trade tensions cap gains
  • Most active CBOT wheat futures up 0.4 pct at $5.01-3/4 per bushel (0353GMT)
  • Most active corn futures down 0.1 pct at $3.85 a bushel
  • Most active soybean futures up 0.02 pct at $10.71-1/4 per bushel
  • Most active rice futures up 0.4 pct at $12.52 per hundredweight

Soft commodities (2 Mar)

  • NY cocoa sets 15-mth high as Ivory Coast crop outlook dims
  • May New York cocoa settled up 2.8 pct at $2,313 per tonne
  • May London cocoa settled up 1.9 pct at £1,641 per tonne
  • May raw sugar settled down 2.1 pct at 13.42 cents per lb
  • May white sugar settled down 1.4 pct at $363.20 per tonne
  • May robusta coffee settled down 1 pct at $1,751 per tonne
  • May arabica coffee settled down 1.4 pct at $1.222 per lb

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

  • Nigeria Stanbic IBTC PMI for Feb due (prev. 57.3)
  • South Africa Standard Bank PMI for Feb (act. 51.4, prev. 49.0)

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

  • Anglo African Oil says Congo state oil company proposed new 20-year license
  • Offshore investors net buyers of South African stocks, bonds
  • South Africa’s Tiger Brands recalls products after listeria confirmed
  • South African rand falls, stocks set to open lower
  • Egypt discussing setting up a sovereign wealth fund to manage state companies, minister says
  • Ugandan leader says replaces security minister, police chief
  • Egypt’s non-oil business sector activity falls slightly in Feb – PMI
  • Egypt commits 1,000 sq km in south Sinai to Saudi mega city – official
  • CERAWEEK – No talks yet about extending OPEC output cuts into 2019 – UAE min
  • Libyan El Sharara oilfield in shutdown from pollution protest
  • South Africa traces deadly listeria to processed meat, issues recall
  • Libyan landowner says he closed valve on El Sharara oilfield pipe
  • Egypt net foreign reserves rise to $42.524 bln after eurobond sale
  • Egypt to increase gas production at Zohr to 700 mcf per day in May – minister
  • Zambia taps climate fund to battle worsening drought
  • Dispute over Ethiopia emergency rule vote after footage posted online
  • UN halts aid work in northeast Nigeria town after humanitarian workers killed
  • Egypt’s top court waives legal challenges to Red Sea islands transfer to Saudi
  • Ethiopia’s parliament ratifies emergency rule imposed after PM’s resignation
  • Congo’s Kabila to meet companies over mining code revision
  • Moody assigns first-time B1 issuer rating to government of Tanzania
  • Trial of Shell, Eni, over Nigeria to switch to new Milan court – sources
  • Attack on French embassy, army in Burkina Faso kills eight
  • US urges citizens to reconsider Burkina Faso travel “due to terrorism”
  • UN inquiry blames Congo’s ADF rebels for deadly attack on peacekeepers
  • Suspected Boko Haram militants kill 11 including 3 aid workers in Nigeria
  • Cocoa sets 15-mth high as Ivory Coast crop outlook dims
  • MSF suspends medical work in Nigerian town after deadly raid
  • Ethnic clashes in northeastern Congo kill more than 40 people
  • Nigeria redeems $413 mln T-bill from eurobond proceeds
  • Partners in Kenya’s first oil project eye pipeline deal by mid-2018
  • Mauritius 91-day treasury bill yield rises to 3.75 pct
  • South Africa fuel prices to fall in March on stronger rand
  • Angola offers former dos Santos diamond rights to investors
  • IMF tells Ghana to adopt new revenue plan before April review
  • South Africa to investigate water ministry amid severe drought
  • South Africa cement maker PPC taps Moleketi as chairman
  • Nigeria extends search for abducted schoolgirls to neighbouring countries
  • Overwhelmed health system to blame for Kenya hospital mix-up – doctors
  • South Africa’s 3-mth t-bill average yield inches up to 7.2 pct
  • Yields rise at undersubscribed South African CPI-linked bond auction
  • Total expands in Libya with Waha stake buy from Marathon
  • African telecoms towers operator Helios plans London listing
  • Al Shabaab kill 5 police in northeast Kenya, official says
  • Kenyan university lecturers strike again over low pay
  • Rio Tinto’s Mozambique woes mount as Australian watchdog takes company to court
  • South Africa’s January budget deficit widens y/y

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

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