By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Shares, oil slide as China virus fears intensify; yen, Treasuries in demand
- China says virus ability to spread getting stronger
- Safe-haven assets in demand; oil drops sharply
- Some Asian markets closed Lunar New Year holiday
Oil Markets
- Oil prices skid 2%, extending slide as China virus spreads
- Brent down 1.9% at $59.57 a barrel (0113GMT)
- WTI down 2.1% at $53.05
Precious metals
- Gold rises to over 2-wk high as China virus spreads
- Spot gold up 0.6% at $1,579.94/oz. (0131GMT)
- US gold futures up 0.5% at $1,579.50/oz.
Grains
- Wheat down 2% as China virus fears escalate; soybeans, corn fall
- Wheat down 1.9% at $5.62-1/2 a bushel (0142GMT)
- Corn up 1.1% at $3.83 a bushel
- Soybeans down 0.5% at $8.97-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Central Bank of Kenya MPC meeting [fcst. 8.5%, prev. 8.5%]
- Nigeria’s main opposition PDP party executives meet in Abuja
- Ethiopia’s Abiy meets Eritrea’s Afwerki & Somalia’s Abdullah in Asmara
- Bank of Ghana MPC meeting; 27-31 Jan
Key African events or data releases over the weekend & early a.m today
- Congo Rep. debt could be one-third higher than IMF estimate – campaign group
- Libya’s Haftar makes push in western Libya
- Burundi ruling party picks Ndayishimiye to contest presidential vote
- 20 soldiers killed in Mali attack, govt says
- Egypt allocates 28.17 bln pounds for urgent commodity & service needs
- Lebanon’s Bank Audi chooses Egypt’s EFG Hermes as financial advisor in deal to sell its Egypt unit
- South Africa’s Eskom new CEO warns against hasty unbundling of firm
- Erdogan says Haftar cannot be expected to respect Libya truce
- Several countries have breached arms embargo agreed at Libya summit – UN
- Eni CEO says he may step down if found guilty in Nigeria case – WSJ
- Zimbabwe freezes Chinese firm’s account over currency manipulation
- Angola may ask Portugal to seize dos Santos’ assets, says prosecutor
- Libyan central bank chief says oil blockade must be lifted
- Sudan signs initial political & security deal with rebel group
- Morocco, Spain to hold talks about overlapping territorial waters
- Foreign investors bought fewer Nigerian stocks last year – bourse
- Africa Oil – Djeno programme emerge, buyers elusive for Unipec offers
- Brazilian telecom Oi sells its 25% stake in Unitel to Sonangol – filing
- IMF aid to Congo Republic on hold over Glencore, Trafigura impasse
- Burundi lawmakers to make president “Supreme Guide” ahead of elections
- Erdogan says Turkish military in Libya to train pro-Serraj forces
- Kenyan woman, 26, sets up country’s first digital car insurance company
- Nigeria raises bank’s cash ratio for first time in four years
- South African parliament starts process to remove watchdog head
- Sudan signs initial political and security deal with rebel group
- Nigeria’s central bank holds benchmark rate at 13.5%
- Barrick Gold’s ‘long safari’ ends with Tanzania deal
- Angola’s beleaguered Isabel dos Santos to offload stake in Portugal’s Efacec
- Ghana 2019/20 cocoa arrivals at 496,000 T by Dec. 26 – Cocobod
- Mass evictions prompt protests as Nigerian housing crisis mounts
- Tunisia’s designated PM makes employment, services the priority
- Rwanda jails opposition figures for 7-12 years for ‘conspiracy’
- South African Airways has enough cash to pay January wages
- Malawi’s Rastas cheer ruling allowing dreadlocks in school
- African style makes debut at Paris Haute Couture week
- France’s Amethis set to buy 30% stake in Kenyan retailer Naivas
- Uganda shilling holds steady against the dollar
- South Africa mine deaths fall to 51 record low in 2019
- South Africa’s Sasol first-half mining production for sale slips 2%
- Tanzania, Canada’s Barrick Gold to sign agreement – Tanzania presidency
N.B. Full stories of above headlines are available on Reuters