#Africa #Markets | 29 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asia shares sag on lingering tech woes, yen lower
• MSCI Asia-Pacific index down 0.2 pct, Nikkei gains 0.6 pct
• Tech-led losses on Wall Street limit equity market gains
• Dollar holds gains vs yen, crude oil prices higher

Oil Markets

• Oil prices rise as OPEC seen continuing supply cut through 2018
• Crude up as OPEC/non-OPEC deal to hold through 2018
• But rising US crude inventories, production cap prices
• Shanghai crude futures down almost 10 pct since Monday launch
• US WTI crude futures at $64.75 a barrel, up 0.2 pct (0242GMT)
• Brent crude futures at $69.72 a barrel, up 0.3 pct
• Shanghai crude futures at 408.3 yuan ($64.83) per barrel, down 1.45 pct (0250GMT)

Precious metals

• Gold prices edge up from 1-wk low after steep fall
• Spot gold up 0.2 pct to $1,327.20 per ounce
• US gold futures for April delivery up 0.2 pct at $1,326.50 per ounce

Grains

• Wheat firms as traders ready for USDA report
• Most active CBOT wheat futures up 0.3 pct at $4.47 per bushel (0047GMT)
• Most active corn futures up 0.2 pct at $3.75-1/4 a bushel
• Most active soybean futures at $10.19-3/4 per bushel, up 0.2 pct
• Most active rice futures at $12.43 per hundredweight, down 0.2 pct

Soft commodities (28 Mar)

• Raw sugar drops to 2-1/2-year low as Brazilian currency falls
• May raw sugar settled down 2.6 pct at 12.21 cents per lb
• May white sugar settled down 2.3 pct at $347.80 per tonne
• May New York cocoa settled up 1.7 pct at $2,597 per tonne
• May London cocoa settled up 1.5 pct at £1,796 per tonne
• May arabica coffee settled down 1 pct at $1.1775 per lb
• May robusta coffee settled down 0.4 pct at $1,729 per tonne

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

• South Africa M3 data for Feb-18 due [fcst. 7.0% yy, est. 6.0%, prev. 5.8%]
• South Africa PSCE data for Feb-18 due [fcst. 4.6% yy, est. 5.5%, prev. 5.5%]
• South Africa PPI data for Feb-18 due [fcst. 5.0% yy, est. 5.0%, prev. 5.1%]

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

• ICD extends $50 mln Islamic financing to Nigeria bank trio
• Gunmen kill one, wound others in central Mali hotel attack
• Kenyan minister, police chief found in contempt; opposition politician deported
• Shell targets former executive in Nigeria graft complaint
• Polyglot Ethiopian premier must ease ethnic, youth tensions
• Bollore must be compensated over Benin railway concession – company official
• DP World says Djibouti has not offered to buy its Doraleh terminal
• Yields on Kenya’s 91-day, 182-day t-bills dip at auction
• Sudan extends ceasefire with rebels to June – state news
• Frozen $500 mln in Angolan fraud probe came from central bank account with Standard Chartered
• South African rand falls after central bank rate cut
• Malawi leaves benchmark rate at 16 pct, cuts growth forecast
• Rwanda auctions assets belonging to jailed critic of President Kagame
• South Africa says deadly listeria strain not found at RCL factory
• Ghana February producer price inflation falls to 5.5 pct
• South Africa cuts main interest rate as inflation falls within range
• Serbia silence critics with Nigeria win, says coach
• Sierra Leone election raises hopes for girls’ education, safe abortions
• Swiss prosecutors help Italians, Dutch in Nigerian oil probes
• South African woman jailed in landmark ruling for racist rant
• Suspected rebels kill at least 11 in northeastern Congo
• Six Tanzanian opposition leaders charged with sedition
• South Africa fuel prices to increase in April
• Nigeria earned 557.9 bln naira ($1.77 bln) in state revenue in February
• South Africa central bank cuts repo rate to 6.5 pct
• Ghanaians protest over expanded military cooperation deal with US
• Shareholders in South Africa’s DRDGOLD back Sibanye-Stillwater assets plan
• South Africa requests proposals for Eurobond
• ATON’s bid in South Africa’s Murray & Roberts rejected by major shareholder
• Zain Group in Sudanese currency swap talks with Kuwait government
• Chad’s president could stay on until 2033 under proposed reforms
• Zambian parliament delays debate on motion to impeach president
• OPEC seeks “very long term” cooperation with other oil exporters
• Rwanda central bank holds key repo rate at 5.5 pct
• South Sudan suspends Vivacell’s mobile network over unpaid license fee
• Ugandan shilling unchanged amid conversions by charities
• Yields on Ugandan treasury bills climb at auction
• Angola’s net reserves fall to $12.839 bln in February
• Kenya shilling slightly gains on offshore inflows
• South Africa’s Sanlam raises $490 mln in new share issue
• South Africa’s M&R extends losses after board rejects $400 mln takeover bid

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

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