By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stocks find footing as China markets restore some losses
- Coronavirus death toll rises further
- China shares rebound after Wall St bounces
- Oil leads commodity slide on fears for China demand
Oil Markets
- Oil prices rebound from China virus slump amid ginger recovery across markets
- Brent up nearly 0.4% at $54.66 a barrel (0227GMT)
- WTI up 0.6% at $50.43
Precious metals
- Firm dollar weighs on gold prices amid virus threats
- Spot gold down 0.1% at $1,575.27/oz. (0156GMT)
- US gold futures down 0.2% at $1,579.50/oz.
Grains
- Soybeans rise for second session; coronavirus fears cap gains
- Soybean futures up 0.1% at $8.77-1/2 a bushel (0147GMT)
- Corn futures up 0.3% at $3.80 a bushel
- Wheat futures down 0.2% at $5.54-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- OPEC+ technical committee meets over coronavirus in Vienna; 4-5 Feb
- 5th Nigeria – US binational commission in Washington DC; 3-4 Feb
- Investing in African mining indaba in Cape Town; 3-6 Feb
- Kenya’s Kenyatta heads to Washington DC for trade talks
- UN-brokered Libya military talks in Geneva
Key African events or data releases yesterday & early a.m today
- Kenya’s former president Daniel Arap Moi dies – Citizen TV
- Egypt non-oil private sector shrinks faster in Jan – PMI
- Families in Africa fear impact of US immigration ban
- UN-brokered Libya military talks begin in Geneva
- Israel and Sudan will push to normalise relations – Israeli officials
- More soldiers won’t help Mali, talks with [militants] might – UN
- Malawi court annuls President Mutharika’s 2019 election victory
- Egypt military brings in sovereign fund to help sell assets
- At least 13 students killed in stampede in Kenya – Daily Nation
- Africa Oil – Unipec halts WAF buying, offers cargoes as freight plummets
- Anglo-American to decide fate of South African thermal coal assets this year
- South Africa’s rand firms following slide on virus fears
- Nigeria stocks fall to 3-wk low as funds exit
- OPEC+ considering further 500,000 bpd oil output cut – sources
- Botswana projects narrower budget deficit for 2020/21
- Gas pipeline in Egypt’s Sinai attacked, imports from Israel unaffected
- Locust swarms threaten more countries in eastern Africa – FAO
- Unipec stops West African crude buying as virus hits Chinese demand – sources
- Congo’s new artisanal cobalt monopoly could seek private partner – minister
- Ghana to probe bribery accusations in Airbus deal
- Ivory Coast 2019/20 cocoa port arrivals seen at 1,419,000 T by Feb. 2 – exporters
- Morocco’s Maroc Telecom fined $344 mln for anti-competitive practices
- South Africa’s Absa PMI falls further in January
- Kenyan shilling strengthens, remittances help
N.B. Full stories of above headlines are available on Reuters