#Africa #Markets | 16 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slip as new US political worries sour mood
  • Mueller investigation adds to US political worries
  • Signs of growing US protectionism alarm investors
  • US yield curve flattens, 2-yr yield at 9 ½-year high

Oil Markets

  • Oil prices extend gains, but higher output caps rise
  • NYMEX crude for April delivery up 0.1 pct at $61.24 a barrel (0048GMT)
  • London Brent crude up 2 cents at $65.14, down 0.5 pct for the week

Precious metals

  • Gold steady as political worries linger
  • Spot gold unchanged at $1,315.80 per ounce (0100GMT)
  • US gold futures for April delivery down 0.2 pct to $1,315.80 per ounce

Grains

  • Wheat prices face 2nd week of losses on record world supplies, improved weather
  • Most active CBOT wheat futures up 0.3 pct at $4.80-1/4 a bushel (0108GMT)
  • Most active corn futures down 0.1 pct at $3.86-1/4 per bushel
  • Most active soybean futures up 0.02 pct at $10.41 per bushel
  • Most active rice futures up 0.2 pct at $12.43 per hundredweight

Soft commodities (15 Mar)

  • White sugar at 2-1/2-year low, arabica at 9-mth slump
  • May white sugar settled down 1.4 pct at $349 per tonne
  • May raw sugar settled down 0.2 pct at 12.74 cents per lb
  • May arabica coffee settled down 1.9 pct at $1.1875 per lb
  • May robusta coffee settled down 1.4 pct at $1,728 per tonne
  • May New York cocoa settled down 0.8 pct at $2,536 per tonne
  • May London cocoa settled up 0.1 pct at £1,796 per tonne

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

  • Mauritius central bank auctions 182-day treasury bills worth 800 million rupees, and 91-day and 364-day Bank of Mauritius bills worth a total 1.8 billion rupees

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

  • Amnesty says Shell, Eni negligent on Nigeria oil spills
  • South Africa demands Australian minister retract white farmer comments
  • Cameroon’s aging Biya holds first cabinet meeting since 2015
  • EU aims to step up Libya coastguards on migrant patrols
  • Libya seizes tanker suspected of fuel smuggling, arrests crew – spokesman
  • Zimbabwe’s Mugabe says never thought Mnangagwa would turn against him
  • BP seeking buyers for stake in ageing Egyptian business – source
  • US military discloses firefight in Niger in December
  • Africa’s Helios ditches London IPO plans, Congo turmoil weighs
  • South Africa’s listeria outbreak in early stages, will spread – minister
  • Mauritius PM says president’s decision not to resign is deplorable
  • South Africa’s rand slumps as faltering rally revives 12/$ spectre
  • How Congo faced down some of the world’s biggest mining firms
  • Yields on Kenya’s 182-day t-bills rise and 91-day t-bills dip at auction
  • Sisi calls for big turnout in Egyptian election
  • Glencore, Randgold mines quit Congolese industry body ahead of govt talks
  • Libya’s NOC to stage oil and gas conference in Benghazi
  • Ivory Coast sets guidance for dual-tranche eurobond
  • Botswana’s inflation rises to 3.2 pct y/y in Feb
  • Russian-Zimbabwean firm to invest $400m in Zimbabwe platinum
  • Norway’s Scatec Solar says 3 projects caught in South Africa row
  • Angola charges ex-central bank chief in $500 mln fraud case
  • South Africa grants bail to six police in Marikana massacre case
  • Energy Recovery awarded $4 mln for desalination projects in Egypt
  • Inclam wins 3 deals in Venezuela and Equatorial Guinea for total of $2.5 mln
  • Zimbabwe’s coal output set to quadruple as investors arrive
  • Average yields rise on Egypt’s 6-mth, 1-yr t-bills
  • Zimbabwe says consulting on rejoining Commonwealth
  • Ghana’s cedi seen firm, most currencies on back foot next week
  • South Africa to back anyone pursuing legal action in listeria outbreak
  • Nigeria’s central bank aims for first rate meeting by April – governor
  • Zimbabwe inflation at 2.89 pct y/y in February
  • Dana Gas plans $47 mln capex in Egypt this year – CEO
  • Eight killed in Senegal military helicopter crash
  • DP World says Djibouti incident could hurt Africa investment
  • After turmoil at home, Egypt struggles to revive power abroad
  • Moroccan protesters clash with police in poor mining town
  • Namibia’s inflation slows to 3.5 pct y/y in Feb
  • Shell, GTBank agree $270 mln oil-backed loan to Nigeria’s Amni
  • Sentiment over South African economy changed for the better – Old Mutual CEO
  • DP World chairman says committed to port project in Somaliland

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

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