#Africa #Markets | 8 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks fall on renewed anxiety over trade, growth risks
  • Renewed trade woes, downbeat views on eurozone growth weigh
  • Bonds draw demand, German 10-yr yield lowest in 2 years

Oil Markets

  • Oil dips on economic slowdown, but OPEC output cuts offer some support
  • Brent crude futures down 0.7 pct at $61.19 per barrel (0351GMT)
  • US WTI crude futures down 0.8 pct at $52.20 per barrel

Precious metals

  • Gold holds steady amid trade worries, but heads for weekly fall
  • Spot gold steady at $1,309.6 per ounce (0050GMT)
  • US gold futures firm at $1,313.40

Grains

  • Soybeans head for 2nd straight weekly loss
  • Most active CBOT wheat futures up 0.1 pct at $5.13-3/4 per bushel (0219GMT)
  • Most active corn futures up 0.3 pct at $3.77-1/2 per bushel
  • Most active soy futures up about 0.1 pct at $9.13-3/4 per bushel
  • Most active rice futures down 0.1 pct at $10.49 per hundredweight

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

  • 32nd ordinary session of the assembly of heads of state & govt of the African Union in Addis Ababa today

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

  • Sierra Leone president declares ‘rape scourge’ a national emergency
  • South Africa’s Ramaphosa pledges to fix economy as election looms
  • Sudan teacher died from injuries caused by “solid object” – investigator
  • South Africa to hold parliamentary election on May 8 – Ramaphosa
  • South Africa unions warn Ramaphosa on jobs after Eskom split pledge
  • Uganda accused of promoting sex tourism with ‘curvy women’ beauty contest
  • Tunisia averts national strike with public sector wage deal
  • Africa Crude – Nigeria differentials down on March cargo overhang
  • East Libya forces control substation not main El Sharara oil field – engineer
  • After air strikes in Chad, France warns citizens to be vigilant
  • Residual US sanctions keep Sudan’s economy in chokehold
  • BofA appoints new head of global markets for South Africa – source
  • France says to continue military cooperation with Cameroon
  • Traders expect Nigeria naira, Kenya shilling to be steady; in week ahead
  • 14 NGOs oppose LME plans to ban tainted cobalt
  • Death toll rises to six at South Africa coal mine gas explosion
  • Botswana sees budget surplus in 2020 – finmin
  • Uganda police arrest BBC journalists, govt demands release
  • Nigeria naira firms 0.6 pct in a week as funds shrug off election risk to buy treasuries
  • Total CEO: need to tame “Lake Albert Crocodiles” to move Uganda project in 2019
  • Radisson Hotel Group to step up expansion in Africa
  • Egypt to auction $1 bln in 1-yr dollar tbills on Monday – cbank
  • Zimbabwe churches try to broker dialogue after opposition snubs Mnangagwa talks
  • Total’s South Africa discovery could hold 1 bln barrels oil equivalent – CEO
  • South Africa’s oil company PetroSA eyes gas from new Total find
  • Uganda central bank holds its key lending rate at 10 pct
  • WeWork picks South Africa for first African foray
  • 5 killed in South Africa coal mine gas explosion – state broadcaster
  • Kenya’s 15-yr treasury bond yield dips at auction – cenbank
  • Nigeria court adjourns MTN case to Mar. 26
  • Tunisia govt reaches deal with union to raise wages of 670,000 public employees – sources
  • Russia, China back nuclear as a clean-power fix for Africa
  • South Africa’s net foreign reserves rise to $43.6 bln in January
  • Sudan’s Bashir softens tone dramatically, says reporters to be released

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

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