By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
· Asian shares up after MSCI announces China weighting boost
· MSCI Asia ex-Japan +0.3 pct
· China blue chips up; MSCI says it will quadruple China A-share weighting
· US Q4 GDP up 2.9 pct, better than expected
Oil Markets
· Oil rises on OPEC supply cuts, but surging US output & economic slowdown weigh
· Group led by OPEC has been withholding supply since January
· But record US output, exports offset some of OPEC’s cuts
· Global economic slowdown weighs on 2019 oil demand outlook
· Brent up 0.4 pct at $66.55 per barrel (0116GMT)
· WTI up 0.4 pct at $57.45 per barrel
Precious metals
· Gold hits 2-wk low as upbeat US data lifts dollar
· Spot gold up 0.1 pct at $1,313.47 per ounce (0323GMT)
· US gold futures down 0.1 pct at $1,314.80 per ounce
Grains
· Wheat hovers near 11-mth low, set for 6.5 pct weekly decline
· Most active CBOT wheat futures down 0.1 pct $4.59 per bushel (0148GMT)
· Most active corn futures up 0.1 pct at $3.71 per bushel
· Most active soy futures up 0.2 pct at $9.11-3/4 per bushel
· Most active rice futures down 0.5 pct at $10.58 per hundredweight
Key African events or data releases today [Posts & comments at my Twitter handle @DrRafiqRaji]
· South Africa’s state capture inquiry continues; Eskom treasurer Pillay to testify
· South Africa ABSA manufacturing PMI data for February [prev. 49.9]
· South Africa total new vehicle sales for February [prev. 42.37K]
· ILO report on the future of work to be launched in Durban; Namibia’s Geingob attending
Key African events or data releases yesterday & early a.m today [Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
· Liberia central bankers arrested after probe into missing millions
· UNHCR says around 30,000 Nigerians return to town targeted by Boko Haram
· Sudan’s Bashir delegates powers as ruling party head to deputy as protests rage
· Probe finds Liberia’s ‘missing’ $100 mln in central bank vaults – US Embassy
· After attacks, MSF suspends ebola treatment in epicentre of Congo outbreak
· Algeria police disperse journalists protesting in capital
· Libya rivals agree on need for national election – UN
· Egypt’s Eastern Co obtains approval to offer additional shares – source
· Tanzania revokes licenses of exchange bureaus operating illegally – cenbank
· Huge blast and heavy gunfire rock Somali capital
· W.Africa Crude – Differentials steady, programmes in focus
· Surge in Somalis fleeing violence may lead to ‘catastrophe’, warns aid agency
· Mozambique files case against Credit Suisse in London’s High Court
· South Africa’s MTN expects up to 90 pct jump in 2018 profit
· Senegal president wins re-election on back of economic boom, opposition unhappy
· Protesters challenge emergency courts in Sudan, police fire tear gas
· Senegal opposition candidates say they will not appeal election result – joint statement
· South Africa’s rand falls on subdued risk appetite
· Nigeria and Kenya currencies seen firming next week
· Egypt’s M2 money supply growth slows to 11.95 pct y/y in January – cbank
· Mozambique files case against Credit Suisse in London’s High Court
· Senegal president wins re-election with 58 pct of vote
· Massmart to focus Africa expansion plans on Kenya, Zambia
· South Africa’s trade balance swings to deficit in January
· Uganda shilling weakens for second straight day
· Kenya inflation at 4.14 pct y/y in Feb – stats office
· Libya PM and eastern commander Haftar agree on need to hold elections – UN
· Nigeria benchmark bond yield drop 40 bps as funds buy debt
· Kenya shilling holds steady on thin importer demand
· South Africa’s Liberty puts some African units on chopping block
· UN seeks $234 mln in aid for drought-hit Zimbabwe
· South Africa’s slow growth hurts Imperial Logistics’ outlook
· South Africa court orders miners’ union to suspend planned industry-wide strike
· South Africa’s rand stumbles as geopolitical tensions weigh
· South Africa’s Implats swings into first-half profit
· South Africa January credit demand growth quickens to 6.51 pct m/m
N.B. Full stories of above headlines are available on Reuters