#Africa #Markets | 8 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks dealt body blow as China exports tank
  • China Feb exports dive 20.7 pct y/y, imports -5.2 pct
  • Nikkei falls 2 pct, Shanghai blue chips off almost 3 pct
  • Dollar and yen in demand as euro nurses losses
  • Bond yields drop globally on bets for more easing

Oil Markets

  • Oil prices slide as economic outlook darkens, US supply surges
  • Soaring output to make US the world’s top oil exporter – Rystad
  • Brent down 0.8 pct at $65.78 per barrel (0528GMT)
  • WTI down 0.7 pct at $56.25 per barrel

Precious metals

  • Gold steadies as ECB stance drag equities; US jobs data eyed
  • Spot gold steady at $1,285.17 per ounce (0119GMT)
  • US gold futures flat at $1,286 an ounce

Grains

  • Wheat hovers near 14-mth low, set for 4 pct weekly fall
  • Most active CBOT wheat futures up 0.2 pct at $4.39-1/4 per bushel (0125GMT)
  • Most active corn futures up 0.3 pct at $3.66-1/2 per bushel
  • Most active soy futures barely changed at $9.02-1/4 per bushel
  • Most active rice futures down 0.4 pct at $10.75 per hundredweight

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

  • South Africa’s state capture inquiry resumes; since sitting on Tuesday
  • Sierra Leone’s Bio at Harvard for forum
  • Nigeria’s gubernatorial elections tomorrow

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

  • US indicts Mozambique’s former finmin over $2 billion loan scheme
  • US says Zimbabwe failed to make needed political, economic changes
  • South Africa’s Eskom may need more bailouts despite tariff hikes
  • Model turned activist Waris Dirie says world is ignoring the crime of FGM
  • Africa Crude – Demand for Angolan slows
  • Zimbabwe to allow foreign platinum miners control of local operations
  • Botswana sees lower mineral revenues in 2019
  • Battle against ebola being lost amid militarised response, MSF says
  • South Africa’s rand falls after ECB, Eskom tariffs news
  • Awash with plastic bottles and lacking a law, Kenya struggles to recycle
  • Ex-CEO of Tanzania’s Bank M charged with fraud, money laundering
  • Over 8 million Ethiopians need food aid due to violence, drought – govt
  • South Africa’s Eskom dollar bonds jump after regulator grants tariff increase
  • Namibia tribes to appeal US ruling on German colonial horrors
  • Kenya’s shilling strengthens to its highest in four years
  • Algeria’s Bouteflika, facing demands to quit, warns against infiltration of protests
  • Sudan protesters defy emergency measures to rally in Khartoum
  • Tunisia: We are starting to put tourism crisis behind us
  • Zimbabwe central bank denies new currency rate being fixed
  • African telecoms titian MTN slims down with $1 bln divestment plan
  • South African regulator grants Eskom smaller tariff hikes than sought
  • Most African currencies seen firm next week
  • Egypt forces kill 7 militants near Cairo – govt
  • Kenya shilling rises to its strongest level since July 2015
  • Danish police charge 14 for sharing Morocco murder video on social media
  • Algeria lawyers take to the streets to back anti-Bouteflika protests
  • Ghost workers sap Tunisia’s phosphate wealth
  • Uganda shilling edges up after demand for dollars tapers off
  • South African bank Absa could cut hundreds of jobs, union says
  • South Africa’s Q4 current account deficit narrows to 2.2 pct of GDP
  • South Africa’s Sanlam hit by global markets rout, weak growth at home
  • South Africa’s Standard Bank posts leaner FY earnings growth
  • MTN aims to float Nigeria unit in Lagos during first half
  • South Africa’s net foreign reserves rise to $43.7 bln in February

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

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