#Africa #Markets | 25 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks tumble as bond markets sound US recession
  • MSCI ex-Japan falls 0.6 pct, Nikkei opens sharply lower
  • Japan yen near 6-wk highs on global growth fears
  • Australia 10-yr bond yields at record lows

Oil Markets

  • Oil prices drop almost 1 pct on concerns recession may be looming
  • Brent down 0.7 pct at $66.56 per barrel (0410GMT)
  • WTI down 0.9 pct at $58.52 per barrel

Precious metals

  • Gold gains as US recession fears lift safe-haven appeal
  • Spot gold up 0.1 pct at $1,314.21 per ounce (0128GMT)
  • US gold futures up 0.2 pct at $1,314.40 an ounce


  • Corn extends gains to hover near highest in more than 3 weeks
  • Most active CBOT wheat futures up 0.2 pct at $4.66-3/4 per bushel (0202GMT)
  • Most active corn futures up 0.3 pct at $3.79-1/4 per bushel
  • Most active soy futures up 0.2 pct at $9.05-1/2 per bushel
  • Most active rice futures down 0.1 pct at $11.20 per hundredweight

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

  • Ghana interest rate decision today
  • 2-day Nigeria’s CBN MPC meeting starts
  • South Africa’s state capture inquiry resumes

Key African events or data releases (21-24 Mar) & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Mali leader sacks generals, disbands vigilantes after massacre
  • Algeria’s Sonatrach CEO calls on staff to keep working during mass protests
  • Comoros opposition say presidential vote marred by irregularities
  • Thousands of Morocco teachers stage protest over pay terms
  • Mozambique death toll rises to 446 after cyclone – minister
  • Morocco police use water cannons to disperse protesters in Rabat – witness
  • At least 134 Fulani herders killed in central Mali’s worst violence yet
  • Death toll from southern Africa cyclone, floods exceeds 700
  • Soccer – Burundi qualify for first African Cup of Nations finals
  • Algeria’s annual inflation falls to 4.1 pct in February
  • South Africa tax workers to strike over pay dispute
  • Gunfight between Somalia security forces and Al Shabaab ends, leaving 15 dead
  • Security tops agenda as Iraqi PM visits Egypt in first foreign trip
  • Hundreds of Algeria lawyers protest against Bouteflika
  • Tanzania to conclude talks for delayed LNG project in September
  • CAR opens cabinet to more armed groups to bolster peace
  • Rwanda court convicts 15 on terror-related charges
  • Suspicion and strife strain Ethiopia plane crash probe
  • African Devpt Bank, GE reach settlement on Alstom misconduct
  • Cholera cases reported as hunger, disease stalk African cyclone survivors
  • Shortages of everything, and worries about relatives, for Mozambique flood survivors
  • Mali forecasts gold production to drop 3 pct in 2019 – mines ministry
  • Morocco’s CPI unchanged in February – planning agency
  • South Africa to get extra 900MW of power from Mozambique
  • Vedanta Resources appoints new CEO for Zambia unit KCM
  • Nigeria’s NNPC plans to revamp refineries to cut fuel imports
  • Egypt says it sees Golan Heights as occupied Syria land
  • Boko Haram militants kill 23 Chad soldiers – security sources
  • Uganda shilling firms on dollar inflows from charities, commodities
  • Kenya shilling holds steady against the dollar
  • Tunisia benchmark interest rate held at 7.75 pct
  • Anti-Bouteflika protests shake Algeria’s business community
  • US sanctions Congo election officials, says they obstructed vote
  • Algeria ruling party leader says Bouteflika’s decisions valued
  • Ethiopia says US, EU, French teams helping analyse crash black boxes
  • Sudan summons Egypt ambassador over Red Sea oil and gas exploration
  • Africa Crude – Nigeria programmes emerge, overhangs dwindle
  • Blast at Egypt chemical factory kills at least eight – security sources
  • Guinea risks ‘conflict and confusion’ with mining eviction policy
  • Nigeria central bank sees 3 pct post-election growth
  • Egypt targets debt-to-GDP of 89 pct – presidency
  • At least 30 migrant believed missing after boat sinking off Libya
  • Sudan’s Bashir bans hoarding of Sudan pounds, protests flare
  • Detained prominent South Sudan economist appears in court
  • Sudan’s Bashir appoints ruling party head as assistant – presidency
  • Ivory Coast shelves plans to issue eurobonds in 2019
  • Ethiopia crash captain did not train on airline’s MAX simulator – source
  • Ethiopians cheer as London museum returns plundered royal hair
  • Eskom power cuts to hit South Africa GDP – Goldman Sachs
  • Burundi authorities detain schoolgirls accused of scribbling over president’s picture
  • US military may join Mozambique cyclone rescue, aid agencies told
  • Cyclone puts 200,000 Zimbabweans in need of urgent food aid – UN
  • Faeces in the kitchen: South Africans call for better sewage systems
  • Kariba hydro power dam cuts output as water levels fall
  • Zimbabwe raises public workers pay by 29 pct, averts strike for now

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

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