#Africa #Markets | 1 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares off 4-mth high as China data disappoints
  • Caixin/Markit PMI falls to 3-yr low of 48.3
  • Trump says will meet Xi soon to seal a trade deal
  • China says talks made “important progresss”

Oil Markets

  • Oil caught between trade talk hopes, weak China data
  • US sanctions against Venezuela hit crude exports
  • Brent crude futures up 3 cents by $60.87 per barrel (0244GMT)
  • US WTI crude futures down 9 cents at $53.70 per barrel

Precious metals

  • Gold near 9-mth highs on Fed; trade optimism caps gains
  • Spot gold steady at $1,321.14 per ounce (0106GMT)
  • US gold futures little changed at $1,320.10 per ounce

Grains

  • Soybeans firm as market eyes US-China trade breakthrough
  • Most active CBOT wheat futures down 0.2 pct at $5.15-3/4 per bushel (0208GMT)
  • Most active corn futures up 0.1 pct at $3.77 per bushel
  • Most active soy futures up 0.7 pct at $9.21-1/2 per bushel
  • Most active rice futures up 0.1 pct at $10.62 per hundredweight

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

  • 20th EAC summit today in Arusha, Tanzania; finally
  • South Africa state capture inquiry continues
  • South Africa ABSA manufacturing PMI data for Jan-19 expected [prev. 50.7]
  • Nigeria manufacturing PMI data for Jan-19 due [prev. 61.1]
  • Nigeria non-manufacturing PMI data for Jan-19 expected [prev. 62.3]
  • South Africa total new vehicles sales for Jan-19 due [prev. 39.98K]

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

  • US imposes visa restrictions on Ghana
  • Emerging assets post best month in years with late boost from Fed
  • UN security council to review CAR arms embargo by end-Sept
  • Colombia recovers bodies of 12 African migrants drowned in accident
  • Looking for friends, Sudan’s Bashir reopens Eritrea border
  • Romania to replace Canada in Mali peacekeeping mission – Ottawa
  • Nigeria’s pan-African bank UBA expands to Mali
  • Telecom Egypt co. appoints Adel Hamed as CEO – statement
  • Africa Crude – Nigerian crude diffs teeter as high prices deter buyers
  • South African rand climbs to 5-mth high on dovish Fed
  • Egypt shares jump 4.6 pct this week on expectations of a rate cut
  • South Africa’s indebted public broadcaster SABC scraps layoffs
  • Aid effort brings little relief for migrants trapped in Libya
  • Trans-Gambia bridge a boon for trade, but a blow for local traders
  • South Africa’s Edcon needs $226 mln capital injection over 3 years – CEO
  • South Africa’s Vodacom faces protests over call-back service compensation
  • Zimbabwe’s public sector baulks on strike, teachers to stop work
  • South Africa union says to strike over Eskom split proposal
  • Kenyan & Ugandan currencies seen trading firmer next week
  • Kenya bomber’s journey offers cautionary tale of intelligence failures
  • South Africa’s trade surplus widens in December
  • Climate shocks threaten gains against HIV in Africa, researchers say
  • Libyan forces arrest suspected Islamic State member in Sirte
  • Uganda shilling in firm position on back of end-month flows
  • Kenya inflation falls to 4.7 pct in January, helped by lower transport costs
  • Botswana’s first private coal mine to produce saleable coal in March
  • South Africa’s Eskom says 3 power plants have below 10 days of coal stockpiles
  • Kenya bank NIC to merge with Commercial Bank of Africa
  • Sudan’s Bashir says border with Eritrea, shut for a year, reopens
  • Kenya shilling seen easing against the dollar
  • Zimbabwe’s public sector union backs down on strike, cites volatile situation
  • South Africa’s Exxaro aims to double coal exports through Richard’s Bay by 2023
  • Rapes by Zimbabwe troops go unreported as victims fear reprisals
  • Central banks bought more gold in 2018 than any year since 1967 – WGC

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

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