#Africa #Markets | 1 Mar

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


·      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

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