#Africa #Markets | 11 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares decline as US jobs data clouds global outlook
  • Asian ex-Japan shares almost flat
  • Payrolls shockingly low though many see weakness as temporary
  • US bond yields at 2-mth lows
  • China lending, money supply data miss forecasts

Oil Markets

  • Oil rises as OPEC’s output cuts set to continue, US drilling activity slumps
  • Saudi’s Falih says too early to change OPEC+ policy in April
  • US drilling activity falls for 3rd week
  • Brent down 0.3 pct at $65.91 per barrel (0016GMT)
  • WTI down 0.3 pct at $56.26 per barrel

Precious metals

  • Gold inches lower as firm dollar offsets falling equities
  • Spot gold down 0.1 pct at $1,296.73 per ounce
  • US gold futures down 0.1 pct at $1,298.10 an ounce


  • Soybeans rebound on Chinese buying, wheat up for 2nd day
  • Most active CBOT wheat futures up 0.3 pct at $4.41 per bushel (0115GMT)
  • Most active corn futures up 0.8 pct at $3.67 per bushel
  • Most active soy futures up 0.3 pct at $8.98-1/4 per bushel
  • Most active rice futures down about 0.1 pct at $10.82 per hundredweight

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

  • South Africa’s state capture inquiry resumes
  • South Africa’s Ramaphosa campaign walk in Park station, Johannesburg
  • Misconduct trial of Nigeria’s suspended chief justice Onnoghen to resume
  • South Africa’s Public Investment Corporation inquiry resumes

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

  • Ailing president returns to Algeria as mass protests swirl
  • Spokesman of leading Rwanda opposition politician found dead
  • Ethiopia airlines flight to Nairobi, Kenya crashes, killing 157
  • Libya’s El Sharara oilfield to reach 300,000 bpd in 2 weeks – field engineer
  • Governor election counting halted in southern Nigeria oil state
  • Morocco takes back citizens from northern Syria – US-backed SDF
  • Sudan opposition leader’s daughter jailed over protests – party
  • Egypt’s Canal Sugar inks financing deal worth $169 mln
  • US to send teams to assist in Ethiopia Airlines crash
  • Egypt’s Sisi appoints close military ally as transport minister
  • Algeria’s army chief of staff says ties between the army and the people are strong – TV
  • Egypt’s urban inflation jumps to 14.4 pct in Feb
  • Egypt’s core inflation rises to 9.2 pct y/y in Feb – cbank
  • Ethiopia flight “had unstable vertical speed” – flight tracking site
  • Death toll from Malawi flooding rises to 28, almost 227,000 people affected
  • Malaysia deports 6 Egyptians despite concerns over torture, rights abuses
  • Tunisia’s health minister resigns after 11 babies die in hospital
  • Libya’s Tripoli airport reopens after drone alert
  • Turnout low in vote for powerful Nigeria state governors
  • Sudan women protesters sentenced to 20 lashes, month in jail
  • Congo’s Mai Mai militiamen attack ebola treatment centre
  • Algeria orders early university holiday as students spur protests
  • Rwanda aims to sell stake in cement firm Cimerwa this month
  • Libyans fear shutdown as eastern commander eyes capital
  • On international women’s day, Sudan’s Bashir orders release of female detainees
  • Algeria detains 195 people during protests – state TV
  • Some 50 migrants wounded by clash inside detention centre in Libya – UN
  • Algeria state news agency says protesters demand “regime change”
  • Gunmen kill ranger in Congo’s Virunga park after reopening
  • Top performer Kenya’s bond market suffers worst day since November
  • Algeria army magazine says the army and people belong to one country – APS
  • Africa Crude – Sellers of Angolan trim some offers
  • Congo’s ex-leader Kabila’s party to pick prime minister – sources
  • South Africa bond demand at 6-mth high despite c.bank plan
  • Malawi floods kill 23, knock out power and water supplies
  • Hundreds protest against Sudan govt after Friday prayers
  • Tanzania orders cleanup at Acacia gold mine, threatens closure
  • Kenya shilling firm against the dollar
  • Without vaccine, hundreds of children die in Madagasacar measeles outbreak
  • Tanzania gives Acacia Mining to March 30 to stop water pollution at one of its mines or face shutdown

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

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