#Africa #Markets | 21 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares up on Fed outlook
  • Aussie dollar seesaws after strong jobs data
  • Fed minutes (29-30 Jan meeting) provide some relief
  • Investors expect US, China to reach trade deal next month

Oil Markets

  • Oil ticks over near 2019 highs amid OPEC cuts
  • But economic slowdown applies brakes
  • Brent up 6 cents at $67.14 per barrel (0256GMT)
  • WTI up 17 cents at $57.33

Precious metals

  • Gold hovers near 10-mth peak amid steady dollar after Fed minutes
  • Spot gold up 0.1 pct at $1,339.99 per ounce (0054GMT)
  • US gold futures down 0.4 pct at $1,342.5 per ounce

Grains

  • Wheat prices inch up from 7-mth low, but soybeans edge down
  • Most active CBOT wheat futures up 0.4 pct at $4.82-1/2 per bushel (0157GMT)
  • Most active corn futures up about 0.1 pct at $3.71 per bushel
  • Most active soy futures down 0.1 pct at $9.01-1/2 per bushel
  • Most active rice futures up 0.4 pct at $10.21 per hundredweight

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

  • Ghana state of the nation address (SONA) by Akufo-Addo today
  • Speech by presidential contender of main opposition Nigerian party expected
  • Rwanda central bank to present monetary policy & financial stability statement

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 Steinhoff gets shareholder petition for inquiry before Dutch court
  • South Africa’s Woolworths half-year earnings drop
  • France sale to Egypt helps lift EU wheat off 7-mth low
  • South Africa pledges $5 bln Eskom bailout as budget creaks
  • Zimbabwe scraps bond-note dollar peg, paves way for exchange rate slide
  • South Africa’s budget shows limited fiscal flexibility – Moody’s
  • Africa Crude – Nigeria April programmes expected, tenders in focus
  • Egypt executes nine over public prosecutor’s killing
  • South Africa’s rand flat after slipping in knee-jerk reaction to budget
  • UN reports mass rape, killings, torture in South Sudan, seeks oil scrutiny
  • Tunisia central bank sees inflation below 7 pct after rate rise
  • Sudan’s economic decline provides fuel for anger against Bashir
  • Zambia, Zimbabwe shortlist foreign firms to build hydro plant
  • Ivory Coast cuts 2019 cashew farmgate price 25 pct
  • Deutsche Bank to rebuild in South Africa, months after cuts
  • US, Britain, Norway alarmed at escalationg violence in South Sudan
  • EU illegal migrants arrivals fall but stronger borders needed – Frontex head
  • Bank Audi studies buying National Bank of Greece’s Egypt unit – source
  • Petrol suppliers cut price to encourage Nigerians to travel to vote again
  • “Two is enough”, Egypt tells poor families as population booms
  • Libya’s ancient ruins blighted by theft, shunned by tourists
  • Zimbabwe scraps bond note, US dollar peg – central bank
  • Tunisia central bank chief says raising rates not enough to curb inflation
  • Zimbabwe launches forex interbank market amid currency crunch
  • South Africa Eskom dollar bonds broadly gain after budget
  • South Africa to bail out Eskom without taking on debts
  • VW South Africa targets record output despite headwinds
  • South Africa dollar bonds fall after growth forecasts slashed in budget
  • South Africa’s Eskom to get 69 bln rand bailout over 3 years
  • Barrick outlines proposal to settle Acacia dispute with Tanzania
  • South Africa miner Sibanye raises loss estimate by $100 mln-plus
  • Tanzania rebases economy, 2015 GDP now 3.8 pct larger – stats office
  • Egypt issues $4 bln in foreign currency bonds – finance ministry
  • Zambia finmin orders cleanup of public payroll
  • ‘No place to sell’: thousands hit in Zimbabwe clampdown on street vendors
  • Zambia debt weighing on central bank reserves – governor
  • Kenya paves way for green bonds in 2019 with new rules
  • Egypt executes 9 men over killing of public prosecutor
  • Chinese “Ivory Queen” smuggler sentenced to 15 years in jail in Tanzania
  • Uganda ruling party backs Museveni re-election bid
  • South Africa’s EOH Holdings founder and chair resigns
  • Kenya shilling steady, expected to firm due to remittance inflows
  • Egypt will issue more international bonds by end June – minister
  • South Africa consumer inflation falls to 4.0 pct in January
  • South Africa Bidcorp HY profit rise on upbeat European market

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

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