#Africa #Markets | 26 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares battered as trade war fears sap sentiment
  • Japan’s Nikkei, Chinese shares on downward trajectory
  • MSCI ex-Japan set for first quarterly loss since late 2016
  • Yen off highs; Aussie, kiwi nudge higher
  • Gold steady, Brent crosses $70 a barrel

Oil Markets

  • Brent crude oil futures above $70 per barrel on Middle East tension
  • Supplies could be disrupted if US reimposes sanctions on Iran
  • Saudi Arabia favours extended supply cuts into 2019
  • China launches Shanghai crude oil futures
  • US WTI crude futures at $66.06 a barrel (0157GMT), up 0.2 pct
  • Brent crude futures at $70.74 a barrel, up 0.4 pct

Precious metals

  • Gold hits 5-week high on global trade war fears
  • Spot gold up 0.3 pct at $1,350.76 per ounce (0113GMT)
  • US gold futures for April delivery down 0.2 pct at $1,346.70 per ounce

Grains

  • Wheat climbs to 1-week high on US dryness; soybeans rebound
  • Most active CBOT wheat futures up 0.5 pct at $4.62-3/4 a bushel (0245GMT)
  • Most active corn futures up 0.7 pct at $3.80 per bushel
  • Most active soybean futures up 0.7 pct at $10.35-1/4 a bushel
  • Most active rice futures down 0.2 pct at $12.34 a hundredweight

Soft commodities (23 Mar)

  • NY cocoa surges to 2016 high, arabica coffee nears 9-mth low
  • May New York cocoa settled up 3.2 pct at $2,615 per tonne
  • May London cocoa settled up 2 pct at £1,821 per tonne
  • May arabica coffee settled down 1.5 pct at $1.172 per lb
  • May robusta coffee settled down 3 pct at $1,690 per tonne
  • May raw sugar settled down 1.6 pct at 12.57 cents per lb
  • May white sugar settled up 0.3 pct at $357.20 per tonne

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

  • Ghana interest rate decision due [fcst. 19.0%, prev. 20.0%]

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

  • Facing little contest, Sisi seeks high turnout in Egypt vote
  • Egypt says it deported British journalist for working illegally
  • Nigeria talking to Boko Haram about possible ceasefire
  • Egypt kills six militants from group it accuses over Alexandria bombing
  • Sierra Leone opposition leader criticises poll delay
  • Egypt Q2 2017-18 GDP at 5.3 pct – planning minister
  • South Africa police say may issue Zuma summons this week
  • US House panel to probe China military footprint in Africa – chairman
  • Nigeria says Boko Haram talks aim at permanent cessation of hostilities
  • Algeria vows tax reform in energy sector, eyes shale gas cooperation
  • Authorities urge Egyptians to vote as Sisi seeks second term
  • Congo crisis worsening, EU says, as govt shuns aid conference
  • Ruling coalition takes bulk of seats in new in Ivory Coast senate
  • Drug shortages cripple Angola’s health service
  • Congo military kills 13 rebels in Ituri clashes – army spokesman
  • Major Tunisian union threatens protests if privatisations go ahead
  • Sierra Leone court agrees to delay election run-off
  • Ghana votes to host US military; opposition boycotts vote
  • Moody’s keeps South Africa rating at investment grade, revises outlook
  • S&P says Kenya ‘B+/B’ ratings affirmed outlook stable
  • South Africa’s treasury welcomes Moody’s rating reprieve
  • S&P says Congo-Brazzaville ‘CCC+/C’ foreign currency ratings affirmed
  • Moody’s affirms Uganda’s B2 ratings, maintains stable outlook
  • Mali PM makes rare govt vist to Tuareg-held northern city
  • Comoros passport scheme was unlawful, abused by “mafia” networks
  • S&P says Ghana ‘B-/B’ ratings affirmed
  • Fitch affirms Mozambique’s foreign currency IDR at ‘RD’
  • IMF disburses $257 mln loan tranche to Tunisia
  • Zimbabwe opposition MDC fires deputy, weakening party
  • Congo rejects mining industry proposal to soften new law
  • South Africa’s Ramaphosa changes Zuma rule on influence-peddling inquiry
  • South African constitutional court pronounces judgement on payment of social welfare grants after April 1, 2018
  • Tanzania expands main airport to boost passenger capacity
  • Ghana parliament approves plan to issue $1 bln eurobond
  • South Africa’s Grindrod to float primary listing of shipping business offshore
  • Egypt’s Sisi visits Sinai ahead of poll, says militants almost defeated
  • Congo mines minister rejects industry proposal to retain exemptions
  • Reunited, Libya telecom starts $1.7 bln work plan
  • River sharing deals mean water war is a myth, says global water body
  • Tullow Oil closes $800 mln senior notes offering
  • Nigeria’s Buhari meets released Dapchi schoolgirls
  • Uganda joins Africa’s big debt club, central bank warns on default
  • Malawi farmers battle crop-munching pests as output seen falling
  • Mauritius 91-day treasury bill yield falls to 3.64 pct
  • Cameroon cocoa exports down 9 pct by end Feb – offical data
  • Rwanda economy likely to grow by 7.2 pct this year – finance minister
  • South Africa’s 3-mth t-bill average yield falls to 7.17 pct
  • South Africa detects avian flu in seabirds
  • Yields fall at South African CPI-linked bond auction
  • Zambia’s main opposition party seeks to impeach President Lungu

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

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