#Africa #Markets | 13 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares stumble, sterling at mercy of yet another vote
  • Nikkei slips over 1 pct, China stocks in the red
  • Sterling on knife-edge ahead of another Brexit vote
  • Dow weighed down by 2nd day of losses for Boeing

Oil Markets

  • Oil firms as Saudis trim exports, US output forecast reduced
  • Brent up 0.4 pct at $66.93 a barrel (0039GMT)
  • WTI up 0.5 pct at $57.17 a barrel

Precious metals

  • Gold hits near 2-wk high on Brexit woes, weaker dollar
  • Spot gold up 0.2 pct at $1,303.74 an ounce (0130GMT)
  • US gold futures up 0.4 pct at $1,303.80 an ounce


  • Wheat slips on ample global stocks, bleak demand
  • Most active CBOT wheat futures down 0.6 pct at $4.50-1/2 per bushel (0136GMT)
  • Most active corn futures up about 0.1 pct at $3.66 per bushel
  • Most active soy futures down about 0.1 pct at $8.96-1/2 per bushel
  • Most active rice futures up 0.1 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 continues
  • South Africa’s PIC inquiry continues
  • Nigeria’s senate to start debate on 2019 budget proposal
  • South Africa’s political parties to announce candidate lists; IEC deadline for submission today
  • 2nd day of France’s Macron visit to Ethiopia

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

  • South Africa’s Libstar full-year earnings fall on impairment hit
  • Hungry for change, Algerians press old guard to step aside
  • Ethiopia, France sign military, navy deal, turn ‘new page’ in ties
  • US says it backs Algeria efforts to chart new path after Bouteflika
  • Veteran diplomat set to guide Algeria’s transition after protests
  • South Sudan dismisses gang rape accusations, asks for peace funding
  • Nigeria’s ruling party takes close lead in governor elections, but balance could tip
  • Africa Crude – Nembe Creek pipeline resumes, Angolan trade slows
  • Uganda, Saipem agree next steps for refinery
  • Egyptians put the breaks on new car purchases in push for lower prices
  • Nigeria’s Access Bank gets $162.5 mln loan to support local business
  • South Africa’s FirstRand CEO says likely to shrink branches
  • More than 500 Banunu killed in attacks by rival ethnic group in DR Congo – UN investigation
  • African Bank appoints ex-Liberty Holdings CEO as chairman
  • Tanzania sees overall spending up slightly in 2019-20 – finmin
  • Kenya’s president signs petroleum law outlining revenue sharing
  • Macron warns of Chinese risk to African sovereignty
  • 1 man killed, Lebanese construction worker kidnapped in Nigerian city
  • South Africa’s Group Five in business rescue after lenders pull plug
  • South Africa considers financial options to help Zimbabwe revive economy
  • Kenya’s Safaricom secures deal to use m-pesa payments on AliEXpress.com
  • South Africa’s Ramaphosa says ready to help Zimbabwe revive economy
  • Uganda shilling weakens on demand from energy firms
  • Bouteflika’s decision is biggest turning point since independence – deputy PM
  • Kenya shilling weakens against the dollar
  • UN says killings in Congo ethnic clashes may be crimes against humanity
  • Heatwave threatens to slash harvests in drought-hit Zimbabwe
  • Ethiopia crash bodies will take days to release
  • Diplomat Lakhdar Brahimi to chair transitional conference on Algeria – source
  • Macron calls for ‘reasonable’ transition in Algeria
  • South Africa’s FirstRand reports higher HY earnings
  • Results of Ethiopia crash investigation needed before conclusions drawn – IATA head

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

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