#Africa #Markets | 15 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks rise as Sino-US trade hopes boost sentiment
  • MSCI Asia-Pacific index up 0.55 pct, Nikkei gains 0.8 pct
  • Spreadbetters expect higher open for European stocks
  • South Korea stocks trim gains amid geopolitical concerns
  • Crude oil hovers near 4-mth highs

Oil Markets

  • Oil prices firm as supply deficit emerges amid disruptions
  • OPEC has led supply cuts since start of year
  • US sanctions against Venezuela, Iran further tighten market
  • Despite economic slowdown, Goldman sees Brent above $70 per bbl
  • Slight oil supply deficit emerged in Q1 2019
  • Brent up 4 cents at $67.27 per barrel (0425GMT)
  • WTI up 2 cents at $58.63 per barrel

Precious metals

  • Gold rises on softer dollar, global uncertainties
  • Gold on track for a second straight weekly gain
  • Trump-Xi summit will not happen in March – Mnuchin
  • Lack of clarity on Brexit should support gold – analyst
  • Spot gold up 0.4 pct at $1,301.58 per ounce (0625GMT)
  • US gold futures up 0.5 pct at $1,301.40 an ounce

Grains

  • Wheat firms, set for biggest weekly gain in 7 months
  • Most active CBOT wheat futures up 0.2 pct at $4.53-1/2 per bushel (0100GMT)
  • Most active corn futures up 0.3 pct at $3.71-1/4 per bushel
  • Most active soy futures up 0.4 pct at $9.02 per bushel
  • Most active rice futures down 0.2 pct at $10.73 per hundredweight

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

  • Nigeria inflation data for Feb-19 due [fcst. 11.3% yy, prev. 11.4%]
  • South Africa state capture inquiry continues
  • One planet summit ends today in Nairobi

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

  • Kenya’s Commercial Bank of Africa says its shareholders have accepted merger with NIC Group
  • Ethiopia crash investigators find piece of wreckage with similar setting to Lion Air plane – sources
  • Ethiopia Airlines flight reported trouble soon after takeoff – NYT
  • Ethiopia crash may test Boeing’s success in defeating US lawsuits – legal experts
  • 10-Boeing 737 MAX jets could be grounded for weeks as black box probe to start on Ethiopia crash
  • WHO says ebola area contained but Congo needs long-term support
  • Burkina Faso army investigating claims its troops carried out executions
  • Maroc Telecom buys Millicom’s Chad subsidiary
  • Ex-president Banda pulls out of Malawi presidential race
  • Africa needs cash, science for new model of green development – leaders
  • Kenya drops cocaine smuggling charges against UK aristocrat
  • Africa Crude – Tenders awarded, Nigerian clears slowly
  • Ethiopia jet’s black box seen damaged but intact in photo
  • Cyclone Idai, worst storm to threaten Mozambique in years, to make landfall
  • Analysis of Ethiopia Airways jet’s black boxes to start Friday: BEA
  • South African rand falls after poor data; equities flat
  • Kenya court axes bankng rates cap, suspends implementation for a year
  • Families keep vigil at hospital as rescue at Nigerian school collapse ends
  • South Africa’s Standard Bank to cut around 1,200 jobs, close 91 branches
  • Fearing new oil glut, OPEC builds case for keeping supply cuts
  • South Africa steps up power cuts after fault at new mega plant
  • New Algeria premier promises broad govt , urges dialogue
  • Hundreds protest in Khartoum; Bashir promises dialogue
  • Zimbabwe’s new currency weakens on interbank market
  • World Bank, AfDB commit $47 bln to Africa climate finance
  • Moody’s says Ethiopia crash won’t affect Boeing rating “at this time”
  • Vedanta to shut Namibia zinc refinery for 5 weeks
  • Electricity supplier Taqa Morocco reports small rise in annual profit
  • Kenya shilling expected to weaken due to energy sector demand
  • Mining, manufacturing slowdowns sour South Africa growth outlook
  • Burkina Faso says Paris court dismissed $2.2 bln claim over manganese mine contract
  • Tunisia bars Boeing 737 max jets from its airspace
  • First readings of Ethiopia plane’s black boxes may take days: BEA
  • Indonesia to send officials to Ethiopia to aid Boeing crash probe
  • South Africa’s manufacturing output up 0.3 pct y/y in January
  • Grieving families of Ethiopia crash victims angry at delays
  • New premier urges Algerians to accept dialogue
  • New Algerian PM says cabinet to be formed early next week
  • Algeria PM says new govt will be in charge for a “short period of time”
  • Families of Ethiopia plane crash victims storm out of meeting with airline
  • South Africa’s Eskom to implement power cuts due to generation shortfall

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

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