#Africa #Markets | 14 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares slip after China data
  • Pound near 9-mth peak
  • Pound eases after best 1-day percentage gain since Apr 2017
  • Oil prices extend gains on output cuts, US sanctions

Oil Markets

  • Oil edges higher, holds near 4-mth top on supply cuts
  • Brent up 0.1 pct at $67.61 a barrel (0054GMT)
  • WTI up 0.1 pct at $58.29 per barrel

Precious metals

  • Gold prices dip on dollar recovery, Brexit relief
  • Spot gold down 0.5 pct at $1,302.90 per ounce (0732GMT)
  • US gold futures dips 0.5 pct at $1,302.40 an ounce

Grains

  • Wheat rises despite ample global supplies
  • Most active CBOT wheat futures up 0.7 pct at $4.50-1/4 per bushel (0145GMT)
  • Most active corn futures up 0.3 pct at $3.67-3/4 per bushel
  • Most active soy futures up 0.4 pct at $9.04-1/2 per bushel
  • Most active rice futures down 0.2 pct at $10.81 per hundredweight

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

  • Nigeria’s Senate to debate militarisation of elections
  • Kenya’s new cabinet secretaries’ screening in parliament
  • 2nd day of France’s Macron visit to Kenya
  • One Planet summit in Nairobi, Kenya
  • Nigeria’s newly elected legislators to get certificates from electoral body
  • South Africa’s state capture inquiry continues
  • South Africa’s PIC inquiry continues
  • South Africa manufacturing production data for Jan 2019 due [fcst. -0.1% yy, prev. 0.1%]
  • South Africa mining production data for Jan 2019 due [act. -3.3% yy, fcst. -5.5%, prev. -4.8%]

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

  • Athletics – Kenya, Ethiopia urge IAAF not to cut Diamond League races
  • More people die after Nigeria building collapse – emergency agency official
  • Ethiopia crash black boxes arrive in Paris for analysis
  • South Africa’s Eskom to implement power cuts due to generation shortfall
  • Families of Ethiopia plane disaster victims visit crash site
  • Airbus, Ethiopian Airlines discussing new plane deal – French official
  • South African rand weaker before manufacturing, mining data
  • Lion on the lam locked-up in South Africa jail
  • In Kenya push, France seals business deals worth over 2 bln euros
  • South Africa MTN aims to expand local shareholding of its Uganda unit to 20 pct – CEO
  • South Africa’s Exxaro Resources FY earnings jump on higher coal prices
  • Congo president frees several political prisoners, 700 others
  • Egypt closes 4 ports due to bad weather
  • South Africa sugar tax to cut industry revenues, prompt reform – USDA
  • World Bank to lend Angola $1 bln
  • Finland’s Outotec to build 80 mln euro sulphuric acid plant in Morocco
  • Mozambique wants govt guarantees on Proindicus debt cancelled – PM
  • Uganda accuses Rwanda of imposing trade embargo
  • Africa Crude – Tender results awaited, Angolan clears
  • Germany says will not analyse Ethiopia Airlines black box
  • Zimbabwe doctors say patients dying due to drug, equipment shortages
  • Algeria leaders ready to discuss system based on “will of the people”
  • Sensing advantage, Algeria protest leaders hike pressure for change
  • Sudan’s inflation falls to 44.29 pct y/y in Feb – agency
  • Black boxes from Ethiopia crash to be sent to Germany – Ethiopian Airlines spokesman
  • Sudan’s Bashir reshuffles cabinet – SUNA
  • No bodies, only small remains recovered from Ethiopia Airlines crash site – spokesman
  • Algeria’s govt ready for dialogue with opposition – deputy PM
  • Army says it will preserve Algeria’s security in all circumstances
  • Malawi flooding death toll rises to 56, braced for Cyclone Idai
  • In Ivory Coast, organic chocolate made with a bicycle
  • France’s BEA not contacted by Ethiopia over black box analysis
  • MTN to list Nigeria unit towards April and May – MTN Nigeria CEO
  • South Sudan peace deal doomed if disputes not settled – thinktank
  • Italy’s Eni makes major oil find in Angola
  • Building containing school collapses in Nigeria’s Lagos – emergency agency
  • Pilot of crashed Ethiopia Airlines jet reported flight control problems – WSJ
  • British body says has not been asked to take Ethiopia black boxes
  • Uganda shilling little changed, inclined on weaker side
  • South Africa’s business confidence falls for fourth straight quarter
  • South Africa’s debt trajectory too high, no buffers for global crisis – cenbank
  • Africa e-commerce firm Jumia pushes ahead with New York listing
  • Egypt bars Boeing 737 MAX jets from its airspace – statement
  • Kenya shilling under pressure against the dollar
  • South Africa’s Libstar full-year earnings fall on impairment hit
  • Veteran diplomat set to guide Algeria’s transition after protests

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

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