#Africa #Markets | 15 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks retreat, bonds advance as simmering trade woes curb risk appetite
  • MSCI Asia-Pacific index down 0.45 pct, Nikkei loses 0.85 pct
  • Trade woes simmer, Trump seeks to impose fresh tariffs on China
  • US, European bonds bought amid trade and diplomatic concerns
  • Yen broadly higher amid depressed risk appetite

Oil Markets

  • Oil prices stable on healthy demand, but oversupply looms later in 2018
  • World oil demand to grow by 1.62 mbpd in 2018 – OPEC
  • But OPEC expects new supply to outpace demand-growth in 2018
  • US oil output hits another record, at 10.38 mbpd – EIA
  • OPEC expects to lose market share as non-OPEC output soars
  • US WTI crude futures at $61.05 a barrel, up 0.2 pct (0129GMT)
  • Brent crude futures at $64.95 per barrel, up 0.1 pct

Precious metals

  • Gold inches up as trade fears weigh on stocks
  • Spot gold up 0.2 pct at $1,326.71 per ounce (0108GMT)
  • US gold futures for April delivery up 0.1 pct at $1,327.10 per ounce

Grains

  • Soybeans edge higher from 3-wk low, US acreage weighs
  • Most active CBOT wheat futures up 0.5 pct at $4.91-1/4 per bushel (0120GMT)
  • Most active corn futures up 0.3 pct at $3.90 per bushel
  • Most active soybean futures up 0.2 pct at $10.33-3/4 per bushel
  • Most active rice futures up 0.5 pct at $12.40 per hundredweight

Soft commodities (14 Mar)

  • Cocoa extends rally to multi-month highs as funds keep buying
  • May New York cocoa settled up 1 pct at $2,556 per tonne
  • May London cocoa settled up 1 pct at £1,794 per tonne
  • May raw sugar settled up 1.1 pct at 12.76 cents per lb
  • May white sugar settled up 0.1 pct at $353.90 per tonne
  • May arabica coffee settled down 0.4 pct at $1.2105 per lb
  • May robusta coffee settled down 0.6 pct at $1,752 per tonne

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

  • South Africa mining production data for January due [fcst. 1.1% yy, prev. 0.1%]
  • Commonwealth Africa conference continues today to 15 Mar in London

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

  • UN climate projects in Congo leave locals worse off – report
  • Moroccan protesters clash with police in poor mining town
  • Moody’s downgrades Tunisia’s rating to B2, outlook changed to stable
  • Nigeria’s Buhari says no rest until last kidnapped girl released
  • Former head of Ghana’s cocoa regulator faces fraud trial
  • Cobalt to be declared a strategic mineral in Congo
  • Migrant death in Italy points to dire conditions in Libya – aid workers
  • Eritrea arrests hundreds of perceived opponents – UN
  • Mali militia says it obtains US military vehicle from Niger raid
  • Nigeria to redeem 482 bln naira of T-bills in Q2 – calendar
  • Bauxite shipments resume in Guinea mining town after riots
  • South Africa rebukes Australian minister for white farmer comments
  • South Africa’s Ramaphosa says will stop illegal land grabs
  • Djibouti says its container port to remain in state hands
  • Ugandan legislator lauds wife-beating, stirs outrage
  • Nigeria’s Senate to consider report on cenbank nominees next week
  • Pests, disease destroy a third of Mozambique crops, govt says
  • Mali expects industrial gold output to jump 20 pct this year
  • Kenya’s president pick for top prosecutor draws criticism
  • Mauritius to auction 3-yr bond on March 21
  • Nigeria’s total debt rose to 21.7 trln naira at end of 2017, debt office says
  • Yield on Uganda’s 91-day treasury bill inches down
  • Big energy users oppose South Africa’s carbon tax law
  • Mauritius president rejects calls to resign over financial misconduct allegations
  • South Africa’s Q1 business confidence rises 11 points to 45
  • Nigeria inflation at 11-mth low at 14.33 pct on slowing food price gains
  • South Africa antitrust watchdog charges Takata with price fixing

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

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