By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares wilt, oil tumbles as China virus spreads
- Risk assets off to weak start in Asia
- Worries about China virus before Lunar New Year
- Oil extends decline on worries about virus, supply glut
Oil Markets
- Oil falls for third day amid growing concern over China virus
- Brent down 1.7% at $62.16 a barrel (0125GMT)
- WTI down 1.7% at $55.78
Precious metals
- Gold steady as fears of China virus epidemic mount
- Spot gold flat at $1,558.93/oz. (0127GMT)
- US gold futures up 0.3% at $1,561/oz.
Grains
- Wheat hovers near 18-mth peak as global supplies tighten
- Wheat futures up 0.3% at $5.79-1/4 a bushel (0137GMT)
- Soybean futures unchanged at $9.13-3/4 a bushel
- Corn futures up 0.2% at $3.89-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Algeria hosts foreign ministers on Libya crisis
- Central Bank of Nigeria MPC meeting; 23-24 Jan
- Bank of Ghana MPC meeting; 22-24 Jan [decision on 27 Jan]
- World Economic Forum in Davos; 21-24 Jan
Key African events or data releases yesterday & early a.m today
- Angola’s dos Santos named suspect over alleged fraud, selling Eurobic stake
- Conservationists try to save underfed lions in Sudanese wildlife park
- Nigeria LNG signs 10-yr deal with Total
- Angola’s dos Santos to sell Eurobic stake, decision is ‘final’
- Prominent Malawi banker arrested for suspected attempted bribery in rigged poll case
- Angola’s dos Santos named as suspect over alleged fraud at Sonangol – Lusa
- South Africa’s African Rainbow Capital to raise stake in Alexander Forbes
- Algeria to host foreign ministers on Libya crisis
- Africa Oil – Bonny Light under force majeure
- South African rand rises as demand for riskier assets picks up
- Shell declares force majeure on Nigerian Bonny Light crude exports
- Tribal attack in disputed South Sudan border region kills 29
- Morocco’s Casablanca stock exchange to ease foreign access – CEO
- Zimbabwe central bank governor says inflation to fall to 50% by December
- South African Airways should be saved, says ruling ANC
- Guinea-Bissau electoral commission confirms Embalo as president
- Over 400 jobs at risk at Weatherly Namibia copper mine – union
- Burkina Faso approves state backing for vigilantes fighting jihadists
- South African miner Samancor Chrome says may cut nearly 2,500 jobs
- Power cuts cost South Africa up to $8.3 bln in 2019, research shows
- Nigeria to resume mining in Zamfara state in Q1 – minister
- First Abu Dhabi Bank in talks to buy Egyptian unit of Lebanon’s Bank Audi – sources
- Credit Suisse says Mozambique liable for $622 mln loan at heart of bribery scandal
- African unicorn Jumia looks to services, platforms to halt slide
- South African Airways should be kept as national airline – ANC
- Shares in South Africa’s Shoprite rise on sales growth
- Morocco’s CPI up 0.2% in 2019 – planning agency
- Uganda shilling holds steady, demand for dollars eyed
- Kenyan shilling inches up against the dollar
- Uganda’s coffee exports up 5% in December from a year earlier
- South African annual consumer inflation rises to 4% y/y in December
- South Africa’s Naspers raises $1.66 bln via Prosus share sale
N.B. Full stories of above headlines are available on Reuters