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

Global Markets

• Asian shares bounce, China factories fight to re-start
• Shares ex-Japan up 0.9%, Shanghai stocks rally
• Focus on how fast China companies can return to work
• Sentiment supported by late jump on Wall St
• Dollar hits 4-mth high on euro as US economy outperforms

Oil Markets

• Oil gains 1% as short-sellers take profit; investors still wary of coronavirus
• Brent up nearly 1.5% at $54.06 a barrel (0216GMT)
• WTI up about 1.3% at $50.20

Precious metals

• Gold steady as virus fears counter firmer equities
• Spot gold little changed at $1,570.98/oz. (0041GMT)
• US gold futures down 0.3% at $1,574.60/oz.

Grains

• Soybeans extend gains into seventh straight session
• Soybean futures up 0.3% at $8.87-1/4 a bushel (0209GMT)
• Corn futures down 0.2% at $3.81 a bushel
• Wheat futures down 0.5% at $5.49-1/2 a bushel

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

• Nigeria’s Buhari state visit to Ethiopia; after AU summit
• Kenya’s Moi state funeral in Nairobi; public holiday
• South Africa manufacturing production Dec-19 [fcst. -2.9% yy, prev. -3.6%]
• South Africa unemployment rate Q4-19 [prev. 29.1%]
• South Africa state capture inquiry continues
• 3^rd Nigeria international petroleum summit in Abuja; 9-12 Feb

Key African events or data releases yesterday & early a.m today

• Algeria military court upholds jail sentences for former intelligence chiefs
• Sudan seeks US help on subsidy payments, dollar transfers – finmin
• Mali’s president seeks dialogue with insurgents
• [Terrorists] kill at least 30 in northeast Nigeria – residents
• Egypt’s core inflation at 2.7% in January from 2.4% in Dec – central bank
• Africa Oil – Cheap freight sparks little buying interest as virus weighs
• Oil producers still in talks over extending output cut – Algeria minister
• Algeria plans to develop bond, stock markets to ease financial pressure
• South Africa’s rand inches up ahead of key data
• Smart drones to be tested in battle against E.Africa locust swarms
• Libya oil revenues fall to zero in Jan as ports blocked – central bank data
• Mozambique drops court appeals to extradite ex-minister from South Africa
• Google plan to buy into largest African wind farm ended by delay
• Egypt slashes energy subsidy spending in second half of 2019
• Nigeria’s petroleum bill to be passed by mid-2020 says oil minister
• Eskom’s urgent bid for bigger tariffs rejected by South Africa court
• Nigeria’s parliament to receive petroleum bill next week – oil minister
• Uganda sprays locust swarms to protect coffee crop, livestock
• Egyptian pound strengthens to 3-yr high
• Egypt sells $984.8 mln in dollar t-bills at yield of 3.49% – c.bank
• West African countries to investigate Nigeria border closure
• Uganda shilling unchanged on lacklustre dollar demand
• Violence in Africa’s Sahel region attacks the mining food chain
• Shanta Gold buys Kenya exploration project from Barrick
• Girl’s drowning sparks water riot in thirsty South African township
• Kenya shilling weakens due to increased importer dollar demand
• South Africa’s rand rises after plunging to 3-mth low
• Satellite data brings farming advice to remote areas of Zimbabwe
• Congo’s move to control artisanal cobalt is double-edged – Andy Home

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