#Africa #Markets | 20 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares rally to 4-1/2-mth peak on hopes of US-China trade deal
  • Ex-Japan Asia MSCI up 1 pct to highest since early Oct
  • Investors expect US, China to reach trade deal next month
  • Minutes of Fed’s Jan 29-30 policy meeting in focus

Oil Markets

  • Oil near 2019 highs amid OPEC cuts, US sanctions
  • US sanctions on Iran, Venezuela tighten markets
  • But soaring US shale output offsets some of the disruption
  • Economic slowdown to weigh on oil prices by Q4 – BNP Paribas
  • Brent up 0.2 pct at $66.58 per barrel (0300GMT)
  • WTI up 0.5 pct at $56.39 per barrel

Precious metals

  • Gold prices hold at 10-mth highs; markets await Fed minutes
  • Spot gold marginally lower at $1,339.61 per ounce (0021GMT)
  • US gold futures down 0.2 pct at $1,342.6 an ounce

Grains

  • Wheat rises after dropping to 4-mth low, soybean prices firm
  • Most active CBOT wheat futures up 0.3 pct at $4.91-1/4 per bushel (0134GMT)
  • Most active corn futures up 0.5 pct at $3.71-3/4 per bushel
  • Most active soy futures up 0.1 pct at $9.01-3/4 per bushel
  • Most active rice futures up 0.2 pct at $10.01 per hundredweight

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

  • South Africa 2019 budget to be presented by finmin Mboweni today
  • South Africa inflation data for Jan-19 expected [fcst. 4.5% yy, prev. 4.5%]
  • Reserve Bank of Zimbabwe to announce MPC decision(s) today
  • South Africa state capture inquiry continues

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

  • Libya’s NOC to assess security at El Sharara before resuming production
  • Death toll from northwest Nigeria attack doubles to 130
  • Eastern Libya forces hand El Sharara oilfield to oil guards
  • Tunisia central bank raises key rate to 7.75 pct from 6.75 pct to curb inflation
  • Zimbabwe to run out of bread in 1 week as flour stocks dwindle – millers
  • Chinese “Ivory Queen” smuggler sentenced to 15 years jail in Tanzania
  • Africa Crude – Nigeria March overhang persists as April programmes awaited
  • South Africa’s rand tepid ahead of annual budget speech
  • MTN faces more problems in Uganda as authorities query its sales figures
  • Delta Sugar looks to raise output as Egypt pushes sugar beet
  • South Africa parliament approves long-delayed carbon tax bill
  • Glencore to cut output, jobs at copper, cobalt mine in Congo – WSJ
  • UN says fighting, instability have displaced 100,000 in Burkina Faso
  • South Africa need to invest to rebuild confidence in power sector – minister
  • South Africa’s AngloGold looks to streamline assets, Argentine mine up for sale
  • South Africa updated long-term energy plan to be ready in March – minister
  • ‘Basic needs before infrastructure’: fashioning a fairer Senegal
  • Egypt security forces kill 16 suspected militants – state media
  • South Africa govt meeting fails to break Eskom split impasse – COSATU
  • Union Fenosa says guarantees not sufficient to restart Egypt LNG plant
  • South Africa defence group Denel to seek investment partners: CEO
  • Egypt begins receiving offers for dollar bond sale – finmin
  • South Africa’s AMCU calls on Sibanye platinum workers to join strike
  • Kenya says crude oil capacity insufficient for refinery
  • South Africa needs to invest, build confidence in power generation – Radebe
  • South Africa’s Kumba Iron Ore 2018 headline earnings edge lower
  • South Africa AngloGold Ashanti posts highe full-year earnings

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

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