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