#Africa #Markets | 28 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji 

Global Markets

·      Asian stocks shaky as Sino-US trade optimism retreats

·      MSCI Asia-Pacific index flat, Nikkei loses 0.35 pct

·      Cautious comments from top US official trim trade optimism

·      Crude holds firm after Wednesday rally

 

Oil Markets

·      Oil slides as US crude production hits record, Asia factory output weakens

·      US crude output hits record 12.1 mln bpd – EIA

·      But OPEC production cuts squeeze US crude inventories

·      Brent down 24 cents at $66.15 per barrel (0248GMT)

·      WTI down 2 cents at $56.92 per barrel

 

Precious metals

·      Gold near 2-wk lows as dollar rebounds over trade caution

·      Spot gold down 0.1 pct at $1,318.50 per ounce (0340GMT)

·      US gold futures down 0.1 pct at $1,320.10 per ounce

 

Grains

·      Soybean prices edge up, but gains checked by US-China trade concerns

·      Most active CBOT wheat futures up 0.2 pct at $4.67-1/2 per bushel (0156GMT)

·      Most active corn futures down 0.1 pct at $3.73-1/2 per bushel

·      Most active soy futures up 0.1 pct at $9.17-1/2 per bushel

·      Most active rice futures down 0.4 pct at $10.54 per hundredweight

 

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

·      South Africa state capture inquiry continues

·      South Africa’s Ramaphosa to open $1 billion zinc mine

·      South Africa producer inflation for Jan-19 [fcst. 5.1% yy, prev. 5.2%]

·      South Africa PSCE data for Jan-19 [fcst. 5.8%, prev. 5.1%]

·      South Africa M3 data for Jan-19 [fcst. 5.9% yy, prev. 5.6%]

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

·      ‘We risk losing a whole generation’, aid groups warn amid Sahel education crisis

·      Congo ebola centre set on fire after armed attack

·      UN says 10,000 Nigerians return from Cameroon to town targeted by Boko Haram

·      South Africa’s Eskom could resume electricity blackouts if additional units fail

·      Senior Congo official withdraws from senate race, decries vote-buying

·      Qatar Airways suspended some destinations planned for Africa after Gulf boycott

·      Telecoms group Orange eyes restructuring, possible partner for Niger business

·      W.Africa Crude – New Nigerian programmes emerge, diffs steady

·      Total to resume drilling at South Africa discovery in December – partner

·      South African rand dips as risk demands dips, Tradehold lift stocks

·      FIFA bans former Zambia football official for taking bribes

·      Seychelles ‘kingmaker’ ex-president dies at 83

·      South Africa’s Liberty sells short-term insurance tech platform to Standard Bank

·      A veteran at 11, South African author poised to publish fifth book

·      Ghana’s ex-president Mahama nominated to contest 2020 election

·      Congo’s former president awarded oil block in UNESCO heritage site

·      Nigeria’s Buhari wins re-election, rival pursues fraud claim

·      eSwatini facing “economic crisis” as investment slows, wage bill balloons – finmin

·      Expats fear expulsion as South Africa moves to tighten job terms

·      Nigeria’s Buhari says will continue with inclusive govt

·      Algeria extends oil swap deal with trader Vitol to April – sources

·      As demand for South African rooibos soars, nature sets limits on farmers’ ambitions

·      Zimbabwe sold up to $20 million to banks for trade on new forex platform – sources

·      40,000 Nigerian refugees in Cameroon ordered back to northeast Nigeria – MSF

·      Egypt’s transport minister resigns after deadly Cairo train crash

·      France urges transparency and calm for Algeria elections

·      Libya’s El Sharara oilfield ready to resume output, awaiting NOC approval – engineer

·      Kenya shilling steady against the dollar amid end month importer demand

·      Uganda shilling weakens on energy and telecom sectors demand

·      Egypt rebukes Turkey in spat with EU after executions

·      Nigeria bonds rise after Buhari presidential election win

·      Kenyans charged with imitating president to con businessman

·      Buhari re-elected as Nigerian president, Atiku vows legal challenge

·      Africa to pay TV group Multichoice begins trading on JSE at 95.50 rand

·      Nigeria’s defeated opposition party says legal process is one way to resolve election results

·      Nigeria’s Buhari says his administration will intensify security, economic efforts

·      Unshackled yet far from free, ex-slaves struggle anew in Mauritania

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

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