#Africa #Markets | 13 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks touch 4-mth peak on US-China trade deal hopes
  • Trump says could extend China trade deal deadline
  • Safe-haven govt bonds come under pressure
  • Dollar capped, crude oil extends rally
  • Kiwi jumps after RBNZ keeps rates on hold

Oil Markets

  • Oil prices rise 1 pct amid OPEC supply cuts, US sanctions on Venezuela
  • Brent up 0.9 pct at $62.95 per barrel (0138GMT)
  • US WTI up 1 pct at $53.64 per barrel

Precious metals

  • Gold steady as Sino-US trade hopes drag dollar
  • Spot gold steady at $1,311 per ounce (0115GMT)
  • US gold futures mostly unchanged at $1,314.20 per ounce

Grains

  • Soybean prices inch down, retreat from 5-day high
  • Most active CBOT wheat futures down 0.1 pct at $5.19-1/4 per bushel (0234GMT)
  • Most active corn futures down 0.2 pct at $3.77-1/2 per bushel
  • Most active soy futures down about 0.1 pct at $9.16-3/4 per bushel
  • Most active rice futures up 0.4 pct at $10.29 per hundredweight

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

  • Trial of Nigeria’s suspended chief judge Onnoghen continues
  • Nigeria capital importation data for Q4 2018 expected
  • Namibia interest rate decision today [fcst. 6.75%, prev. 6.75%]
  • South Africa retail sales data for Dec 2018 due [fcst. 2.5% yy, prev. 3.1%]

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

  • Deadly stampede in Nigeria at political rally days ahead of election
  • Libya committed to resuming ouput at El Sharara once worker safety is assured – NOC
  • Malawi boy saves famine-stricken village with wind turbine in Berlinale movie
  • Morocco arrests 3 Frenchmen suspected of terrorism financing
  • Missing Kenya rights activist found dead – police
  • Egypt plugs hub status as Shell, Eni, Exxon win energy concessions
  • Dana Gas to drill in what says could be Egypt’s next mega gas field
  • Actor dreams of second chance as Somalia rebuilds its theatre
  • Africa Crude – India’s IOC issues two new buy tenders
  • Africa welcomes refugees but freedom, jobs needed – aid groups
  • France bombed Chad rebels to stop coup d’etat – foreign minister
  • South Africa’s Eskom extends power cuts as crisis persists
  • South Africa looks to Enel for help to end power outages – Gordhan
  • Libya assembly head calls for lifting of force majeure at top oil field
  • Sudan security arrests professors as protests rage on – witnesses
  • OPEC cuts oil supply steeply but sees growing 2019 headwinds
  • Nigeria economy grows at fastest pace in 2 years as election nears
  • South Africa’s Sibanye-Stillwater may restructure loss-making gold shafts
  • Kenya central bank says to hold rate-setting meeting on March 27
  • Shell aims to increase LNG exports from Egypt – executive
  • Harmony Gold in talks to build solar power plant
  • South Africa’s SPAR group posts 8.2 pct rise in 17-week sales
  • Uganda calls on mobile money to cultivate new debt investors
  • Uganda shilling unchanged amid sagging demand from importers, banks
  • South Africa’s manufacturing output up 0.1 pct y/y in December
  • Sluggish economy haunts Nigerian president at ballot box
  • Egypt announces winners in oil and gas exploration bid round
  • South Africa’s Eskom aims to end power cuts by end of this week
  • South Africa’s unemployment rate falls to 27.1 pct in Q4
  • Rwanda’s trade minister says she hopes all AU countries will join FTA within 5 years
  • Kenya shilling firms; remittances help
  • In Ethiopia, climate change leads herders to retrain as farmers
  • Nigeria’s economy grew by 2.38 pct in Q4 2018 – stats office
  • South Africa oil firm PetroSA looks to plug Eskom’s diesel gap
  • South Africa’s Harmonh Gold half-year profit slumps 94 pct
  • South Africa power firm Eskom to cut 3,000MW from national grid

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

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