#Africa #Markets | 4 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks jump on signs US, China close to trade deal
  • Asia ex-Japan a tad higher; strong gains in Aussie, Japan shares
  • E-minis for S&P 500 and Dow up 0.4 pct
  • WSJ reports Trump-Xi summit likely this month
  • Dollar subdued on modest inflation expectations

Oil Markets

  • Oil firms as US-China trade deal appears close
  • Brent up 0.3 pct at $65.25 a barrel (0022GMT)
  • WTI up 0.5 pct at $56.05 a barrel

Precious metals

  • Gold steadies as dollar wilts on Sino-US trade deal hopes
  • Spot gold up about 0.3 pct at $1,296.52 per ounce (0124GMT)
  • US gold futures down 0.2 pct at $1,297.10 an ounce


  • Soybeans firm as US-China trade deal looks close
  • Most active CBOT wheat futures up 0.6 pct at $4.60 per bushel (0134GMT)
  • Most active corn futures up 0.5 pct at $3.74-3/4 per bushel
  • Most active soy futures up 0.4 pct at $9.15 per bushel
  • Most active rice futures unchanged at $10.53 per hundredweight

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

  • South Africa’s state capture inquiry resumes
  • Eyes on potential legal challenge to Nigeria’s Buhari re-election by main opposition party

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

  • Algeria’s Bouteflika offers to leave within one year if re-elected – Ennahar TV
  • New protests in Algeria after Bouteflika submits re-election bid
  • Athletics-Ethiopian Kejelcha smashes world indoor mile record
  • Ebola treatment centre in Congo reopens after attack – ministry
  • Egypt completes restoration of ancient Kom el-Shuqafa catacombs
  • Egypt military court upholds jail sentence of former anti-graft chief – lawyer
  • Egypt regulator cancels Thursday trades of Amer Group, Porto Group
  • Sudan opposition party leader calls on Bashir to step down
  • Islamic State says it killed 10 Nigerian soldiers – Amaq
  • Ethiopians celebrate defeat of colonialists, call for unity
  • 183 injured in Algeria protests – state news agency
  • Africa Crude-Nigerian crude overhang dwindles
  • South Africa retailer Edcon gets $191 recapitalisation
  • Botswana’s president denies report of $600 mln loan to Zimbabwe
  • Togo subsidises off-grid solar to extend electricity access to all
  • Dutch prosecutors target Shell over Nigeria oil deal
  • Emerging markets bring in $25.6 bln of foreign capital in Feb – IIF
  • Uganda shilling weakens slightly amid energy, manufacturing demand
  • Malawi offers $7,000 reward to stop albino killings
  • Cash-strapped African airline Fastjet extends loan agreement terms
  • Deaths in South Africa’s mines fell slightly in 2018
  • Egypt’s Eastern Co private share offer oversubscribed – state media
  • South Africa’s Absa PMI down as power cuts hurt business activity
  • Angola LNG offers cargo for March delivery – sources
  • Kenya says to sell 25-yr infrastructure bond this month

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.