#Africa #Markets | 27 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares steady as investors weigh US recession risk; kiwi plunges
  • Spreadbetters expect firmer open for European stocks
  • Investors ponder implications of inverted US yield curve
  • Kiwi dollar dives as central bank flags possible rate cut

Oil Markets

  • Oil prices mixed, demand concerns cloud outlook
  • Brent up 0.2 pct at $68.13 per barrel (0706GMT)
  • WTI down 3 cents at $59.91 per barrel

Precious metals

  • Gold steadies as equities retreat on recession fears
  • Spot gold flat at $1,315.58 per ounce (0603GMT)
  • US gold futures steady at $1,314.80 an ounce

Grains

  • Wheat edges lower; export demand and planting delay concern caps losses
  • Most active CBOT wheat futures down 0.2 pct at $4.68-1/2 per bushel (0405GMT)
  • Most active corn futures down 0.3 pct at $3.76-1/4 per bushel
  • Most active soy futures down 0.2 pct at $8.99-1/4 per bushel
  • Most active rice futures down 0.1 pct at $11.25 per hundredweight

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

  • South Africa state capture inquiry continues
  • South Africa PIC inquiry continues
  • Kenya to decide interest rates [fcst. 9.0%, prev. 9.0%]
  • Uganda’s Museveni 2-day visit to Mombasa, Kenya
  • 124th International Conference Organisation session in Nairobi continues

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 Steinhoff raises $332 mln from KAP Industrial stake sale
  • Death toll from attack on Mali herders rises to 157
  • Congo’s new leader to meet Pompeo, senior officials in first US visit – spokesman
  • Army chief asks for Algeria’s Bouteflika to be declared unfit for office
  • US top court backs Sudan over American sailors in USS Cole bombing case
  • Algeria protest leader rejects army’s attempt to have Bouteflika declared unfit – Huffpost
  • Comoros president named winner in election rejected by opposition
  • South Africa’s Steinhoff to place up to 694 mln shares in KAP Industrial
  • IMF says will consider emergency financial assistance for Mozambique after cyclone
  • South Africa’s rand slips as dollar rebounds, stocks tick up
  • Nigeria and MTN trade legal arguments over $2 bln tax bill
  • Tunisia ‘truth commission says many rights abuse cases yet to reach court
  • Algeria constitutional council holds special meeting on Bouteflika – TV
  • Algeria’s oil, gas production unaffected by unrest – IEA
  • Olive tree with soil from Ethiopia crash site unites mourners
  • Comoros presidential election results delayed, govt bans public gatherings
  • Nigeria central bank in surprise cut to 13.5 pct of benchmark rate
  • Kenya’s Equity Group 2018 pretax profit up on rising interest income
  • South Africa’s PIC state asset manager suspends acting CEO
  • Algeria army chief asks for presidency to be vacated
  • South Africa – Zuma son pleads not guilty to culpable homicide in 2014 fatal car crash
  • Uganda farmers test big-data solution to climate challenges
  • Uganda shilling weakens on dividend payments
  • Kenya shilling under pressure from end-month dollar demand
  • Ethiopia crash report likely to be released this week as Boeing briefs airlines

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

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