By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian stock index rises 0.3 pct, Nikkei up 2 pct
- Investors cautiously optimistic on US-China trade deals
Oil Markets
- Oil prices rise on OPEC output cuts, as US sanctions bite
- OPEC cuts, US sanctions tighten supply of heavy crude
- Part-closure of Keystone pipeline props up WTI
- But surge in US crude supply to cap prices – MS
- Brent up 0.8 pct at $62.01 per barrel (0329GMT)
- US WTI up 0.7 pct at $52.78 per barrel
Precious metals
- Gold inches down as trade worries boost dollar
- Spot gold down 0.2 pct at $1,306.51 per ounce (0102GMT)
- US gold futures down 0.1 pct at $1,310.20 per ounce
Grains
- Soybeans rebound from 3-wk low, fears of trade talk failure cap gains
- Most active CBOT wheat futures up 0.1 pct at $5.19 per bushel (0204GMT)
- Most active corn futures up 0.4 pct at $3.74-1/4 per bushel
- Most active soy futures up 0.4 pct at $9.08-1/2 per bushel
- Most active rice futures up 0.4 pct at $10.31 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Nigeria Q4 2018 GDP data expected [fcst. 0.2% yy, prev. 1.8%]
- South Africa Q4 2018 unemployment (rate) data due [prev. 27.5%]
- South Africa state capture inquiry continues
- Nigeria court of appeal to continue suspended chief justice Onnoghen case today
- South Africa manufacturing production data for Dec 2018 due [fcst. 3.4%, prev. 1.6%]
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- South Africa’s Harmony Gold half-year profit slumps 94 pct
- South Africa power firm Eskom to cut 3,000MW from national grid
- East Libya forces say they have full control of El Sharara oilfield
- Africa Crude – Qua Iboe clears, Angolan nearly gone
- South Africa’s Eskom says 4 generating units back in service
- Egypt to see gas boost from BP fields, Zohr as Cairo returns to export market
- Young Egyptians trudge through mud to clean up Nile
- Algeria’s Sonatrach signs $1 bln gas plant deal with India’s Larsen & Toubro
- Undervalued Nigerian stocks seen poised for post-election rally
- Algeria’s Sonatrach shortlists 4 firms for trading joint venture
- South Africa president says Eskom power cuts ‘most worrying’
- South Africa rand hits near 3-wk low as Eskom steps up blackouts
- BP to invest about $1.8 bln in Egypt this year – CEO
- The men who would lead Nigeria: the presidency, power and petroleum
- Egypt sells $1.014 bln in 1-yr dollar tbills – central bank
- Uganda shilling holds steady as tax payments curb demand
- South Africa Eskom dollar bonds fall after company says to step up power cuts
- Algeria unemployment unchanged at 11.7 pct in Sept 2018
- Tanzania row overshadows Acacia’s upbeat output, cost figures
- South Africa’s Gordhan meeting Eskom executives over power crisis
- Zimbabwe vice president receiving treatment in India – official
- UN expert says suspension of Nigeria chief judge breaches human rights
- BofA appoints new head of equities in global markets South Africa unit – source
- Kenya shilling steady; seen easing due to importer dollar demand
- South Sudan to return to pre-war oil production levels by mid-2020: minister
N.B. Full stories of above headlines are available on Reuters
