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