#Africa #Markets | 27 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares tick up, dollar near 3-wk low after Powell comments
  • Fed chair reaffirms “patient” approach to raise rates
  • Wall St stocks edge lower in choppy session
  • US data mixed: housing starts hit over 2-yr low in Dec
  • Dollar near 3-wk low, sterling not far from 5-mth high
  • Trump, Kim to kickoff 2-day summit in Hanoi on Wed

Oil Markets

  • Oil rises on OPEC-led supply cuts, report of falling US crude inventories
  • Brent up 0.5 pct at $65.55 per barrel (0100GMT)
  • WTI up 0.9 pct at $56.02 per barrel

Precious metals

  • Gold steady amid subdued dollar after Fed comments, palladium above $1,550
  • Spot gold flat at $1,328.90 per ounce (0152GMT)
  • US gold futures up 0.2 pct at $1,331.20

Grains

  • Wheat rebounds from 10-mth low, tepid US exports cap gains
  • Most active CBOT wheat futures up 0.5 pct at $4.70-1/2 per bushel (0405GMT)
  • Most active corn futures down 0.1 pct at $3.65-3/4 per bushel
  • Most active soy futures unchanged at $9.03-3/4 per bushel
  • Most active rice futures unchanged at $10.63 per hundredweight

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

  • DRC’s Tshisekedi in Namibia for official visit
  • ECOWAS court to hear case on Sierra Leone ban on pregnant schoolgirls
  • South Africa state capture inquiry continues
  • Nigeria’s Buhari to be presented with cretificate of return by electoral commission; after winning re-election
  • South Africa’s Ramaphosa to campaign for ruling ANC in the Western Cape

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

  • Nigeria’s electoral commission declares Buhari winner of presidential election
  • Unshackled yet far from free, ex-slaves struggle anew in Mauritania
  • Hands off! Kenya slum dwellers unite to protect city dam
  • Congo & Zambia win fight with copper mines but at a cost: Andy Home
  • Muhammadu Buhari: Nigeria’s converted democrat comes back from the brink
  • Tens of thousands of Algeria students extend protests against Bouteflika
  • Morocco’s Cosumar to start producing sugar in Saudi refinery in 2019 – CEO
  • Sudan establishes emergency courts, reshuffles senior military staff
  • Senegal president on course for strong election win – media, sources
  • Nigeria’s main opposition candidate demands halt in release of election results
  • Africa Crude – Nigerian diffs hold, but competing grades start to cheapen
  • US says air strike killed 20 militants in Somalia
  • Uganda gold exports jump 23 pct, overtake coffee earnings – cbank
  • South Africa’s rand falls as risk demand cools, stocks inch up
  • Libya’s recognised govt agrees with state oil firm to reopen El Sharara oilfield
  • South Africa’s startup TymeBank could break even by 2022
  • Algeria’s Bouteflika to submit re-election papers March 3 – campaign manager
  • Turkey says EU hypocritical for attending Egypt summit after executions
  • Zimbabwe limits dollar sales to foreign payments only
  • Companies sign deal to sell 8.1 mtpa LNG from Mozambique block – ONGC
  • Shell says Nigeria tax claims may delay major offshore field
  • Sudan’s gum arabic dealers shrug off strife to tap fizzy drink market
  • Don’t overlook Africa’s ‘fragile’ states for social businesses, urge industry experts
  • Zimbabwe’s new currency unmoved as transactions stay restricted
  • Gunmen kill 9 street cleaners outside Mogadishu, Somalia – police, official
  • Uganda shilling little-changed and limited demand
  • Kenya shilling seen range bound amid end month demand
  • Botswana offers Zimbabwe $600 million of loans – report

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

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