By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asian shares up as China stocks edge higher but caution prevails
• Financial markets trying to shake off virus woes
• Equities draw investors on hopes for more China stimulus
• Oil markets worried about demand disruptions

Oil Markets

• Oil prices climb as OPEC, allies weigh output cuts to cushion coronavirus impact
• OPEC+ panel met to consider steps, hear from China UN envoy
• Oil flips into contango, indicating months of surplus
• Brent up 0.8% at $54.40 a barrel (0127GMT)
• WTI up 0.9% at $50.03

Precious metals

• Gold prices edge higher on virus worries
• Spot gold up 0.2% at $1,555.41/oz. (0050GMT)
• US gold futures up 0.2% at $1,558.40/oz.

Grains

• Soybeans rise for third straight day; lower demand worries cap gains
• Soybean futures up 0.4% at $8.82-3/4 a bushel (0154GMT)
• Corn futures down 0.2% at $3.81-1/2 a bushel
• Wheat futures up 0.4% at $5.59-1/4 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• Nigeria’s police chief meets federal legislature over insecurity concerns
• South Africa petrol prices fall by 13 cents
• South Africa’s Mabuza in South Sudan for peace initiative
• Namibia supreme court rules on use of electronic voting machines
• South Africa’s Public Protector vs Ramaphosa court case in Pretoria continues
• South Africa Standard Bank PMI Jan-20 [prev. 47.6]
• Nigeria Stanbic IBTC Bank PMI Jan-20 [prev. 56.8]
• OPEC+ technical committee meets over coronavirus in Vienna; 4-5 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

• IMF lowers Uganda growth projection, cites oil investment delays
• Nigeria working to have US travel ban lifted – foreign minister
• Sudan’s sovereign council head confirms meeting Israeli PM in Uganda
• UN Secretary General says Libya situation a ‘scandal’
• Wife of Lesotho prime minister charged with murder of his previous spouse
• Africa Oil – Spot trade stalls as Chinese demand fizzles
• Algeria pardons thousands of prisoners
• South Africa’s rand firms as risk appetite picks up
• Botswana to accelerate $4 bln coal-to-liquid refinery project – minister
• Nigeria eyes increased trade and tourism with new visa policy
• Moi, Kenyan strongman who presided over rampant graft, dies
• US, Jersey sign $300 mln Abacha loot repatriation deal with Nigeria
• Moi’ Kenyan torture victims mourn a reckoning that never came
• Vodacom to launch 5G services in South Africa in 2020
• Egypt’s CIB proposes raising $951 mln for new expansion
• Sudan casts doubt on early normalisation of ties with Israel
• Turkey’s Karpowership looks to plug South African power gap
• South African retailer Edcon to sell 167 CNA stores
• Security problems hit Burkina Faso’s 2019 gold production – minister
• Uganda shilling holds steady due to lower demand for dollars
• Congo’s 2019 copper output up 17%, cobalt production falls 20%
• South Africa court issues arrest warrant for ex-president Zuma, stayed until May 6
• Families in Africa fear impact of US immigration ban
• Angola’s Endiama expects diamond output to top 10 mln carats in 2020
• UN Libya envoy says military factions ready to negotiate in Geneva
• AngloGold Ashanti to update on South Africa asset sale this month
• Kenya shilling holds steady against the dollar
• Egypt to sell a 45% stake of Banque du Caire in the first half of 2020
• Egypt’s non-oil private sector shrinks faster in Jan – PMI

N.B. Full stories of above headlines are available on Reuters