#Africa #Markets | 26 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares tick up as US bond yields come off late-2017 slows
  • Asian shares up 0.2 pct, Nikkei rallies 2.1 pct
  • European, US shares expected to open higher
  • China’s blue-chip index loses 0.7 pct, Hong Kong down a tad
  • US yield curve inversion raises fears of US recession

Oil Markets

  • Oil prices rise amid supply cuts, but economic slowdown looms
  • Ongoing OPEC-led supply cuts have tightened oil markets
  • Brent up 0.4 pct at $67.46 per barrel (0110GMT)
  • WTI up 0.8 pct at $59.31 per barrel

Precious metals

  • Gold prices slip as equities, US bond yields gain
  • Palladium bounces off 2-wk low hit in the previous session
  • Spot gold down 0.2 pct at $1,319.08 per ounce (0634GMT)
  • US gold futures down 0.3 pct at $1,318.80 an ounce

Grains

  • Wheat rallies to 1-mth high on planting delay fears
  • Most active CBOT wheat futures up 0.6 pct at $4.72-1/2 per bushel (0254GMT)
  • Most active corn futures unchanged at $3.79-3/4 per bushel
  • Most active soy futures barely changed at $9.06-1/4 per bushel
  • Most active rice futures down 0.5 pct at $11.12 per hundredweight

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

  • Nigeria to decide interest rate [fcst. 14.0%, prev. 14.0%]
  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues
  • SADC solidarity conference on Western Sahara in Pretoria to conclude
  • Africa CEO Forum continues in Kigali, Rwanda

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 rand slips as global risk rally slows
  • Preliminary report on Ethiopian Airlines crash “very likely” released this week – Transport ministry
  • 1 in 3 fear losing homes in West and Central Africa, poll finds
  • Police disperse Comoros opposition leaders’ election protest, observers say
  • Mozambique prepares for cholera after cyclone wreaks havoc
  • Journalists protest in Khartoum over crackdown on press freedoms
  • Bongo back in Gabon after 5-mth medical leave to treat stroke
  • Algeria president Bouteflika sacks state television head – Ennahar TV
  • Ex-World Bank economist among 7 charged in South Sudan with insurgency
  • Tencent shareholder Naspers plots Euronext e-commerce listing
  • Eskom price hike to cost South Africa 90,000 mining jobs – Minerals Council
  • South Africa – Lonmin warns on cash woes, urges shareholders to back Sibanye takeover
  • Congo ebola epidemic exceeds 1,000 cases – health ministry
  • South Africa’s Taste Holdings appoints Dylan Pienaar as CEO
  • Caledonia Mining to expand gold exposure in Zimbabwe
  • Libya oil workers at El Sharara, other fields demand salary increase
  • Ethiopia Airlines commits to Boeing ties despite flight 302 crash questions
  • 128,000 people in makeshift camps after Mozambique cyclone – minister
  • Ethiopia Airlines has no immediate plans to attend Boeing’s US meeting
  • South Africa’s Naspers to list internet business on Euronext in second half of 2019
  • Kenya to sell 10-yr, 20-yr treasury bonds in April – cenbank
  • Kenya shilling firm against the dollar

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

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