#Africa #Markets | 27 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares cheered by trade hopes, dollar downcast
  • Asia shares track Wall St rebound, Nikkei up over 1.5 pct
  • Reports China and US quietly working to avoid trade war
  • Currency investors dump dollar and yen, snap up euros

Oil Markets

  • Oil prices rise on Middle East tension, global market recovery
  • Concern that US may bring back sanctions against Iran
  • Shanghai crude repeats high launch-day trading volumes
  • US WTI crude futures up 0.2 pct at $65.71 per barrel (0142GMT)
  • Brent crude futures up 0.2 pct at $70.25 per barrel

Precious metals

  • Gold dips as US-China trade war fears ebb
  • Spot gold down 0.1 pct at $1,352.40 per ounce (0111GMT)
  • US gold futures for April delivery at $1,352.20 per ounce, down 0.2 pct

Grains

  • Soybeans edge lower despite easing fears of possible trade war
  • Most active CBOT wheat futures down 0.2 pct at $4.53-1/2 a bushel (0131GMT)
  • Most active corn futures up 0.2 pct at $3.74-1/2 a bushel
  • Most active soybean futures down 0.1 pct at $10.24-1/2 a bushel
  • Most active rice futures down 0.1 pct at $12.45 a hundredweight

Soft commodities (26 Mar)

  • Cocoa taps highest levels in more than a year as funds buy
  • May New York cocoa settled up 0.5 pct at $2,629 per tonne
  • May London cocoa settled down 0.1 pct at £1,820 per tonne
  • May raw sugar settled down 1.2 pct at 12.42 cents per lb
  • May white sugar settled down 0.6 pct at $355.20 per tonne
  • May arabica coffee settled up 0.8 pct at $1.1815 per lb
  • May robusta coffee settled down 0.1 pct at $1,688 per tonne

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

  • Day 2 of Africa CEO forum in Abidjan

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

  • In Niger’s desert, Europe’s migration crackdown pinches wallets
  • Sudan, Qatar to sign $4 bln deal to manage Red Sea port – ministry
  • Egyptians in Sinai queue for bread, not ballots
  • Sisi to win Egyptian election but seeks high turnout
  • Sierra Leone’s delayed presidential run-off set for March 31
  • Nigeria and Switzerland sign agreement to return stolen assets
  • Roadblocks ahead for South Africa’s Ramaphosa after Moody’s win
  • South Africa’s Zuma to appear in court on April 6 on graft charges
  • South Africa’s Zuma to challenge decision to prosecute him in graft case
  • Massmart to open 20 stores in pan-African expansion – chairman
  • Angola charges son of ex-president dos Santos with fraud
  • Egypt economy stablises under Sisi but prices remain to be tamed
  • Sout Africa investigates $60 million SAP contract
  • Congo says it rejects foreign aid to fund elections
  • GE Power & Fieldcore successfully restart Metahara Sugar Factory in Ethiopia
  • Ghana central bank cuts policy rate to 18 pct
  • Congo’s 2017 mining revenue up 36 pct while oil revenue doubles
  • Ugandan shilling weakens on dividend payments, offshore demand
  • Kenyan shilling strengthens on foreign investor inflows
  • South Africa dollar bond yield spread falls 6 bps after Moody’s reprieve
  • Egypt says it deported British journalist for working illegally
  • Offshore investors net buyers of South African stocks, bonds
  • Germany’s ATON plans buyout of South Africa’s Murray & Roberts

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

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