#Africa #Markets | 12 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Pound soars, Asian shares rally after Brexit deal changes
  • MSCI Asia ex-Japan +1 pct; Nikkei up 1.9 pct
  • Pound gains 0.5 pct on ‘last chance’ Brexit deal
  • China bluechips add 1.3 pct

Oil Markets

  • Oil prices rise on OPEC’s supply cuts and healthy demand
  • Venezuela’s crisis also supports crude prices
  • Brent up 0.3 pct at $66.76 per barrel (0012GMT)
  • WTI up 0.4 pct at $56.99 per barrel

Precious metals

  • Gold inches down as updated Brexit deal improves risk appetite
  • Spot gold down 0.1 pct at $1,293.17 per ounce (0104GMT)
  • US gold futures up 0.1 pct at $1,292.90 an ounce

Grains

  • Wheat edges away from 14-mth low
  • But tepid global demand caps wheat gains
  • Most active CBOT wheat futures up 0.2 pct at $4.29-1/4 per bushel (0100GMT)
  • Most active corn futures up 0.1 pct at $3.62-1/4 per bushel
  • Most active soy futures little changed at $8.90-1/4 per bushel
  • Most active rice futures unchanged at $10.72 per hundredweight

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

  • France’s Macron 2-day visit to Ethiopia
  • South Africa’s state capture inquiry continues
  • South Africa’s PIC inquiry continues
  • Nigeria’s parliament resumes
  • Misconduct trial of suspended Nigeria chief justice Onnoghen continues
  • South Africa’s Ramaphosa in Harare for 3rd SA-Zimbabwe binational commission

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

  • Results of Ethiopia crash investigation needed before conclusions drawn – IATA head
  • Panama’s Copa Airlines says awaiting results of Ethiopia crash probe
  • CERAWEEK – Barkindo says OPEC has helped US shale, as the two plan to meet again
  • US says 737 MAX safe to fly after Ethiopia crash; Boeing shares dip
  • As China prevails, France’s Macron shuffles his cards in Djibouti
  • Algeria’s Bouteflika abandons re-election bid after weeks of protest
  • France says welcomes Bouteflika decision not to seek fifth term in Algeria
  • Canada will take action once cause of Ethiopia plane crash known – minister
  • New constitution for Algeria will be submitted to a referendum
  • Adviser to Niger official arrested in Guinea Bissau cocaine bust
  • Noureddine Bedoui is Algeria’s new prime minister – Ennahar tv
  • Africa Crude – Angolan clears slowly
  • Prize-winning author, 21 UN workers among dead in Ethiopia Airlines crash
  • Royal Air Maroc grounds Boeing 737 MAX 8 after Ethiopian crash
  • Violence sparks first major humanitarian crisis in Burkina Faso
  • After Ethiopia crash horror, some nations ground Boing 737 MAX 8s
  • Ethiopia plane smoked and shuddered before deadly plunge
  • South Africa’s rand firms on improved risk appetite, Naspers lift stocks
  • South Africa’s Comair takes Boeing 737 MAX off schedules
  • Nigeria elections have “systemic failings”, need serious reform – EU
  • Zambia external debt rose to over $10 bln at end 2018 – finmin
  • IEA sees US leading global oil supply growth to 2024
  • Sudan’s parliament cuts state of emergency to 6 months
  • Algeria’s biggest labour union says change is necessary but must be peaceful
  • Ex-Congo VP seeks damages from war crimes court
  • Qatar Petroleum takes stake in Mozambique exploration block
  • Algeria clerics urge religious affairs minister to stop pressuring them to make pro-govt sermons – clerics leader
  • Zimbabwe cenbank head hints at more weakening of new currency
  • Algeria justice minister urges judges to remain neutral
  • Dozens of militants killed in shootouts in Egypt’s Sinai – military
  • Cockpit voice recorder, digital flight data recorder from Ethiopia Airlines flight recovered
  • Tobacco auctions could move exchange rate for Zimbabwe’s transitional currency – cenbank gov
  • Willis is broker on Ethiopia Airlines – spokewoman
  • Algeria judges refuse to oversee vote if Bouteflika participates – statement
  • Zimbabwe annual inflation to fall by as much as 15 pct by end of year – cenbank gov
  • Uganda shilling unchanged, biased on stronger side
  • South Africa’s Old Mutual FY profit drops; co plans $138 mln buyback
  • Kenya shilling strengthens against the dollar
  • Libyans fear showdown as eastern commander eyes capital
  • Barclays Bank Kenya says 2018 full year pre-tax profit rises to 10.65 bln shillings
  • South Africa’s Absa bank full-year earnings dip

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

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