By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asian shares lead global rout, bonds bet on rate cuts
- Markets price in risk of pandemic, deep damage to world economy
- Nikkei futures point to 1,000 point fall, matching Dow
- Bonds fly as investors wager on central bank, fiscal stimulus
- Oil leads commodities sharply lower on demand fears
Oil Markets
- Oil bounces as investors hunt bargains; virus fears cap gains
- Investors seek bargains as WTI drops near $50/bbl
- Saudi Aramco says coronavirus impact to be short-lived
- Brent up 0.5% at $56.59 a barrel (0212GMT)
- WTI up 0.4% at $51.65
Precious metals
- Gold falls from 7-yr high on profit-taking, virus fears cap losses
- Spot gold down 0.7% at $1,649.49/oz. (0132GMT)
- US gold futures down 1.5% at $1,651/oz.
Grains
- Soybeans edge higher, coronavirus fears keep prices near 3-wk low
- Soybean futures up 0.5% at $8.86-1/2 a bushel (0247GMT)
- Corn futures up 0.1% at $3.72-3/4 a bushel
- Wheat futures little changed at $8.81-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa’s Ramaphosa speech at National House of Traditional Leaders
- Rwanda central bank 2020 monetary policy & financial stability statement
- South Africa state capture inquiry resumes
- Germany’s President Steinmeier visits Kenya; 23-26 Feb
Key African events or data releases yesterday & early a.m today
- Morocco’s Attijariwafa Bank 2019 net profit up 1.9%
- US Supreme Court open to more damages against Sudan over embassy bombings
- Senegal opens West Africa’s first big wind farm in push for renewables
- Nigeria picks Egypt Air consortium for aviation venture
- Lesotho PM seeks immunity from charge of murdering second wife
- Saudi, Egypt, Bahrain to resume Qatar post services despite dispute
- Eastern Libyan lawmakersnot to join Geneva talks
- South Africa’s rand, stocks tumble as coronavirus adds to budget worries
- Egypt raises cigarette prices after VAT amendments
- Africa Oil – Programmes for some key Nigerian grades slow to emerge
- Togo president declares landslie election win, opponent slams ‘masquerade’
- South African HIV carriers bullied before birth to accept sterilisation
- Artisanal miners attack Gemfields’ Mozambiuqe ruby unit, injuring four
- Detained Tanzanian journalist freed after pleading guilty to financial crimes
- Ghana expects Aker Energy decision on Pecan oilfield within 1-2 months
- Rival eastern Libya-based parliament suspends participation in Geneva peace talks
- Lesotho’s ruling ABC party wants PM to step down, names successor
- Egypt hails new ‘furniture city’ but many craftsmen unconvinced
- First Abu Dhabi Bank expects to finish due-diligence on Bank Audi’s Egypt business by Q2
- South Africa’s Sasol slides to 14-yr low as US project hurts profits
- Mauritius blocks some Italian visitors over coronavirus concerns – Alitalia
- Tunisia says it may suspend some Italy flights over coronavirus
- Libya govt says Haftar’s forces must withdraw from near capital
- Nigeria posts highest quarterly GDP growth in Q4 since recession
- Libyan premier denounces Haftar as “war criminal” at UN
- Egypt executes militant Ashmawy after being convicted over attacks – sources
- South Africa’s Sasol to keep coal mining business – CEO
- Lesotho PM appears in court to hear charges of murdering wife
- Nigeria’s economy grew 2.55% in Q4 – stats office
- Kenyan shilling holds steady against the dollar
- Kenya central bank to hold its rate-setting meeting on March 23
- South Africa’s Sasol half-year earnings fall 74%
- Imported camels evacuated from Libya’s capital after port comes under fire
- Togo President Gnassingbe wins re-election in landslide – preliminary results
N.B. Full stories of above headlines are available on Reuters
