#Africa #Markets | 30 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets (29 Mar)

  • Public holiday, markets closed on 30 Mar
  • Poor first quarter ended on a high note as stocks leap
  • Gloom lifted off stocks after tech rout
  • World shares recorded first quarterly loss in 2 years
  • Dollar steadies, Treasury yields moved lower

Oil Markets (29 Mar)

  • Public holiday, markets closed on 30 Mar
  • Oil prices rose with Wall Street; US crude discount widened
  • OPEC, non-OPEC seen keeping oil cuts until end of 2018
  • Rising US crude inventories and output cap prices
  • US WTI crude futures settled at $64.94 a barrel on Thursday, a 56 cents gain
  • June Brent crude futures rose 58 cents to settle at $69.34 a barrel; albeit May contract expiring on Thursday rose to $70.27, up by 74 cents
  • Shanghai crude futures closed down 1.1 pct at 409.7 yuan ($65.16) per barrel on Thursday

Precious metals (29 Mar)

  • Public holiday, markets closed on 30 Mar
  • Gold slips on steady dollar, but political tensions support
  • Spot gold dipped 0.1 pct to $1,323.19 per ounce on Thursday (1738GMT)
  • US gold futures for June delivery settled down 0.2 pct at $1,327.30 per ounce

Grains (29 Mar)

  • Public holiday, markets closed on 30 Mar
  • Corn, soy futures soar on bullish USDA plantings forecast
  • USDA sees reduced corn, soy acres in 2018
  • CBOT May wheat futures settled at $4.51 a bushel on Thursday, up 1.2 pct
  • Corn May futures settled at $3.87-3/4 a bushel, up 3.8 pct
  • Soybeans May futures settled at $10.44-3/4 a bushel, up 2.6 pct

Soft commodities (29 Mar)

  • Public holiday, markets closed on 30 Mar
  • Cocoa falls, raw sugar edges above 2-1/2-year low
  • May London cocoa settled down 2.4 pct at £1,753 per tonne on Thursday
  • May New York cocoa setteld down 1.6 pct at $2,556 per tonne
  • May raw sugar settled up 1.2 pct at 12.35 cents per lb
  • May white sugar settled up 1 pct at $351.20 per tonne
  • May robusta coffee settled down 0.2 pct at $1,725 per tonne
  • May arabica coffee settled up 0.3 pct at $1.1815 per lb

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

  • Public holiday, markets closed

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

  • Mayor of Libyan capital freed after gunpoint abduction – city council
  • Rebels attack one of Congo president’s houses in east
  • Egypt’s central bank cuts key rates again, by 100 bps, as inflation eases
  • Hunger and conflict push northern Burkina Faso into crisis
  • Trump to suspend duty-free treatment of certain clothing imports from Rwanda
  • Egypt’s Sisi heads for landslide election win with low turnout
  • ATON raises stake in South Africa’s Murray & Roberts in takeover attempt
  • App to help women identify abusive relationships comes to Africa
  • Kenyan opposition politician says was drugged in forced deportation
  • Ghana’s 91-day bill yield dips to 13.31 pct
  • South African rand extends losses after central bank rate cut
  • Ethiopia to swear in new prime minister on April 2
  • Mauritius current account deficit widens in 2017
  • Miners propose Congo sliding royalty scale to resolve row
  • Egypt 2018/19 budget assumes rate of 17.25 Egyptian pounds to dollar – PM
  • Kenya inflation dips slightly to 4.18 pct to March
  • Botswana’s GDP growth accelerates in Q4 – stats office
  • South Africa’s Gold Fields ties up with Canada’s Asanko in Ghana
  • South African Airways outlines revival plan after losses deepen
  • Uganda power distributor Umeme’s 2017 profit plunges
  • Oil major Total says production started in Timimoun field in Algeria
  • Kenya court fines interior minister, police chief for contempt of court
  • South Africa’s February budget surplus widens year/year
  • Egypt’s M2 money supply up 25.4 pct y/y in Feb. – c.bank
  • South Africa’s trade balance swings to surplus in February
  • Fault lines slices through Kenya’s Rift Valley, families flee
  • Ugandan inflation inches down to 2.0 pct in March
  • Listeria class action filed against South Africa’s Tiger Brands
  • South African court dimisses bid to block $4.7 billion renewable deals
  • Fitch affirms Morocco at ‘Bbb-‘ outlook stable
  • South Africa’s Nampak in talks to sell glass business
  • US trained engineer takes on Algeria’s energy monolith
  • Ugandan shilling weakens as offshore demand surges
  • South Africa’s 3-mth t-bill average yield falls to 6.99 pct
  • Taiwan president to visit old African ally amid China pressure
  • South African Airways net loss widens to 5.6 bln rand, CEO says
  • Namibia drops into recession as construction, retail slump; contracts one percent in Q4
  • Libya won’t stabilise unless shadow economy smashed – UN envoy
  • Kenyan shilling under pressure ahead of Easter weekend
  • Zambia economy grew 4.1 pct in 2017 – preliminary CSO data
  • Zambia inflation picks up to 7.1 pct in March – official data
  • Uganda infaltion inches down to 2.0 pct in March
  • Mauritius unemployment falls to 6.7 pct in Q4
  • South Africa’s February credit demand growth quickens to 5.74 pct

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

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