#Africa #Markets | 6 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares regains some ground as trade war fears moderate
  • Global shares snap 4-day losing streak on Monday
  • Nikkei up 2 pct, Australia gain 1.2 pct, Korea 1.0 pct
  • Trade war fears ease after backlash against Trump’s plan
  • Euro shrugs off inconclusive Italian election

Oil Markets

  • Oil extends gains on IEA growth forecasts, hopes for OPEC-US shale producer talks
  • Brent crude futures up 0.3 pct at $65.73 a barrel (0138GMT)
  • US WTI crude futures up 0.3 pct at $62.74

Precious metals

  • Gold prices gain on softer dollar
  • Spot gold up 0.2 pct at $1,322.88 per ounce (0117GMT)
  • US gold futures up 0.3 pct at $1,323.70 an ounce

Grains

  • Wheat falls more than 1 pct despite threat to US crops
  • Most active CBOT wheat futures down 1.3 pct at $5.02-1/2 per bushel (0231GMT)
  • Most active corn futures down 0.3 pct at $3.86 a bushel
  • Most active soybean futures down 0.4 pct at $10.73-1/2 a bushel
  • Most active rice futures down 0.3 pct at $12.43 per hundredweight

Soft commodities (5 Mar)

  • Cocoa soars 6 pct to 16-mth high on heavy fund buying
  • May New York cocoa settled up 5.8 pct at $2,446 per tonne
  • May London cocoa settled up 4.1 pct at £1,708 per tonne
  • May arabica coffee settled down 0.9 pct at $1.211 per lb
  • May robusta coffee settled up 0.2 pct at $1,755 per tonne
  • May raw sugar settled up 1 pct at 13.56 cents per lb
  • May white sugar settled up 1.1 pct at $367.10 per tonne

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

  • South Africa Q4 2017 GDP data due [fcst. 2.8% qq saa, prev. 2.0%]
  • Ghana 61st independence day celebrations today, Nigeria’s Buhari attending

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

  • Zambia exports confiscated logs in controversial timber ban
  • IMF confident Ghana will meet April review requirements
  • Tunisia central bank raises interest rates to fight high inflation
  • Tunisia’s annual inflation rises to 7.1 pct in February – cenbank
  • West African leaders vow to fight jihadists after Burkina Faso attacks
  • Malawi cholera death toll rises to 19, health ministry says
  • Nigeria’s Buhari to tour hotspots after kidnappings and clashes
  • Libya’s NOC resumes pumping at El Sharara oilfield – sources
  • South Africa blames food firms for world’s worst listeria outbreak
  • Sierra Leone to vote for new leader after years of economic crisis
  • Mugabe acolyte forms new Zimbabwe political party to challenge Mnangagwa
  • Zambia expands ban on South Africa food products after listeria outbreak
  • Tanzania criticises Moody’s for negative rating outlook
  • South African stocks up on opportunistic buying, rand recovers
  • Moody’s says Morocco’s credit profile reflects move towards value-added exports, fiscal progress
  • Malawi shops urged to remove South Africa meat products
  • Namibia suspends South African processed meat imports over listeria
  • Ethiopia ruling coalition to nominate new prime minister
  • African street vendor shot dead in Florence, Italian suspect arrested
  • Activists accuse South Sudan of using oil cash to fund conflict
  • Egypt targets budget deficit of 8.5-8.8 pct/GDP in 2018-19 – minister
  • South Africa’s Tiger Brands CEO says no link between listeria deaths and firm’s products
  • South Africa likely to raise growth forecast, finmin says
  • Botswana recalls imports of South African processed meat over listeria
  • Nigeria’s trade account turns positive in 2017 after recession
  • South Africa’s finmin says met Moody’s, discussed growth, state firms
  • Ugandan minister, police chief sacked as anger mounts over crime wave
  • Mozambique bans imports of South African processed meat over listeria
  • South Africa’s health ministry: took long to find listeria cause as “industry not cooperating”
  • Angola’s Isabel dos Santos denies graft allegations by oil firm chief
  • South Africa’s Eskom to appoint CEO by end-April – chairman
  • Nigeria’s Buhari to visit Yobe State where 110 schoolgirls abducted
  • Part of Nigeria’s northeast may be experiencing famine – aid report
  • Male feminists inside Uganda’s police strike out at killing of women
  • South Africa’s private sector activity rises to 14-mth high – PMI
  • Anglo African says Congolese state oil company proposed new 20-year license
  • Offshore investors net buyers of South African stocks, bonds
  • Egypt discussing setting up SWF to manage state companies, minister says
  • Ugandan leader says replaces security minister, police chief

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

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