#Africa #Markets | 28 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares buckle as tech firms come under more scrutiny
  • Tech sector falls on worries about more regulations
  • Trade worries still keep many investors cautious
  • Bond yields fall globally

Oil Markets

  • Oil prices fall on surprise US inventory rise; China crude volatile
  • Brent fall below $70/barrel, WTI dips below $65/barrel
  • Saudi Arabia proposes long-term supply management with Russia
  • Shanghai crude sees high volumes, but also strong volatility

Precious metals

  • Gold prices edge higher on softer US dollar
  • Spot gold up 0.2 pct at $1,346.96 per ounce (0135GMT)
  • US gold futures for April delivery up 0.3 pct at $1,346.20 per ounce

Grains

  • Wheat firms, gains curbed as rains ease drought-damage fears
  • Most active CBOT wheat futures up 0.3 pct at $4.50-1/4 a bushel (0037GMT)
  • Most active corn futures up 0.1 pct at $3.74-1/2 a bushel
  • Most active soybean futures up 0.2 pct at $10.21 a bushel
  • Most active rice futures flat at $12.45 a hundredweight

Soft commodities (27 Mar)

  • Cocoa prices tumble from highest levels in more than a year
  • May New York cocoa settled down 2.9 pct at $2,554 per tonne
  • May London cocoa settled down 2.75 pct at £1,770 per tonne
  • May robusta coffee settled up 2.8 pct at $1,735 per tonne
  • May arabica coffee settled up 0.7 pct at $1.1895 per lb
  • May raw sugar settled up 1 pct at 12.54 cents per lb
  • May white sugar settled up 0.2 pct at $355.90 per tonne

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

  • South Africa interest rate decision [fcst. 6.5%, prev. 6.75%]

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

  • Trump to end special status for Liberian immigrants in US
  • East African bloc says South Sudan rebel Machar should be freed from house arrest
  • Ethiopia’s ruling coalition approves Abiye Ahmed as prime minister
  • Moody’s affirms Ivory Coast’s BA3 issue rating
  • Congo investigating reports opposition leader had Italian citizenship
  • Moody’s affirms Mauritius’ BAA1 rating
  • Moody’s says Ghana’s credit profile balance strong growth outlook against high debt ration and low debt affordability
  • Nigeria’s finance minister calls meeting with state oil firm
  • Mozambican journalist critical of government beaten unconscious
  • Data, mobile money main revenue drivers for Orange in Africa
  • Kenyan columnists resign accusing govt of interference
  • Amid slow voting, Egypt’s Sisi cruises towards victory
  • South Africa’s rand weaker as S&P warns on economic headwinds
  • Djibouti in talks with France’s CMA CGM to build container terminal
  • Morocco not planning to sell Maroc Telecom stake – finance minister
  • More Algerian doctors and teachers join pay strikes
  • Oil price lifts Algeria’s 2017 energy export earnings
  • S&P: South Africa needs stronger growth to escape “junk”
  • Nigeria to consult before deciding on African trade zone
  • Algeria’s 2017 energy export volumes slip, earnings up –c.bank
  • Burundi opposition politician arrested – party spokesman
  • Vodafone plans to launch voice over data service in Zambia
  • Angola’s c.bank governor sees kwanza depreciation tailing off – report
  • Cairo’s poor district show little interest in Sisi vote
  • Morocco GDP growth to top 3.2 pct in 2018 – finance minister
  • Yields fall on weekly South Africa govt bond auction
  • Jchx Mining Management’s unit signs copper mining contract worth $50 mln in Zambia
  • Uganda shilling firm as demand tails off
  • Kenyan shilling unchanged amid inflows from offshore investors
  • S&P says South African rating not yet near an upgrade
  • South Africa’s Capitec FY profit rises 18 pct, misses estimates
  • Roadblocks ahead for South Africa’s Ramaphosa after Moody’s win
  • Kenyan govt tries to deport opposition politician again – lawyer

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

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