#Africa #Markets | 5 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks extend gains on firm Wall St, Fed outlook
  • Long-battered Australia financial shares jump
  • Many Asian markets closed for Lunar New Year holiday
  • Trump’s State of the Union address due later in the day

Oil Markets

  • US oil prices edge up as market eyes tighter supply
  • Brent futures up 0.4 pct at $62.72 a barrel (0223GMT)
  • US WTI futures up 0.4 pct at $54.77 per barrel

Precious metals

  • Gold prices near 1-wk lows as investors look to riskier assets
  • Spot gold steady at $1,312.15 per ounce (0110GMT)
  • US gold futures down 0.2 pct at $1,316.50 an ounce


  • Soybeans up for 3rd session amid Chinese buying, wheat prices dip
  • Most active CBOT soybean futures up 0.1 pct at $9.19-1/4 per bushel (0146GMT)
  • Most active wheat futures down 0.2 pct at $5.24-3/4 per bushel
  • Most active corn futures up 0.2 pct at $3.80 per bushel

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

  • South Africa’s state capture inquiry resumes for the week
  • Africa mining indaba continues in Cape Town, South Africa Ramaphosa keynote today
  • Unity Day in Burundi
  • South Africa Standard Bank PMI for Jan-19 expected [prev. 49.0]
  • Nigeria Stanbic IBTC PMI for Jan-19 expected [prev. 55.0]
  • South Africa SACCI business confidence data for Jan-19 (over)due [prev. 95.2]

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

  • Egypt non-oil private sector activity lags to slowest since Dec 2017 – PMI
  • IMF agrees to disburse fifth tranche of Egypt loan – minister
  • Africa Crude – Chinese Lunar New Year hobbles spot trade
  • Zimbabwe teachers to strike, ignoring govt appeal
  • Backing Chad’s Deby, French warplanes stop rebel advance from Libya
  • Zimbabwe looks to alleviate foreign currency shortages – mines minister
  • Egypt court seeks death penalty for Sisi assasination plot suspects
  • South Africa’s Eskom sees wider loss, seeks higher power tariffs
  • Zambia will enforce copper import tax – mining minister
  • Outgoing Congo govt defends golden parachutes
  • Nigeria’s tribunal orders top judge to appear at trial on Feb. 13
  • Car bomb kills 11 at Somalia shopping mall – police
  • Gunmen kill Dubai-owned P&O Ports exec in Somalia’s Puntland
  • Uganda shilling weakens on increased dollar demand from commercial banks
  • South Africa’s MTN expects 20 pct boost to 2018 earnings per share
  • South Africa’s Eskom forecasts higher loss in 2018/19 – CFO
  • Kenya’s ambulance ‘Uber’ at heart of siege rescue
  • Ex-Mozambique finance minister revises South Africa bail application – lawyer
  • Kenya shilling strengthens to a 6-mth high against the dollar
  • South Africa’s Clover Industries shares soar on $359 mln buyout offer
  • Zimbabwe vice president returns to South Africa for treatment – newspaper
  • Death toll in South African mines down to 84 in 2018 – industry group
  • Insecurity throws Nigeria’s election preparations into disarray

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

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