By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Global shares extend rebound on hopes of G7 support
- Hopes of central bank stimulus lift global shares
- ECB says stands ready to take targeted measures
- G7 conference call planned later on Tuesday
- Australia cuts rates
Oil Markets
- Oil rises a 2nd day as stimulus hopes, expected OPEC cuts offset virus
- Brent up 2.5% at $53.18 a barrel (0148GMT)
- WTI up 2.8% at $48.07
Precious metals
- Gold extends gains on global monetary easing bets
- Spot gold up 0.5% at $1,597.66/oz. (0236GMT)
- US gold futures up 0.3% at $1,599.10/oz.
Grains
- Soybeans hit near 6-wk high on global stimulus expectations
- Soybean futures up 0.1% at $9.01-1/2 a bushel (0152GMT)
- Corn futures up 0.5% at $3.76-1/2 a bushel
- Wheat futures down 0.2% at $5.22 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa GDP Q4-2019 [fcst. 0.4% qq saa, prev. -0.6%]
- Ghana’s Akufo-Addo Europe tour; speaks at 2nd ECR-Africa summit in Brussels
- Nigeria’s Supreme Court reviews its Imo state election judgement [Negative]
- South Africa’s Mabuza briefs NCOP on Eskom, SOEs & land reform
Key African events or data releases yesterday & early a.m today
- Morocco reports first coronavirus case – health ministry
- Senegal confirms first coronavirus case – health ministry
- Algeria reports two new coronavirus cases, bringing the total to five
- Gunmen kill at least 50 in northern Nigeria state of Kaduna
- Women protest against sexual violence in Malawi
- Camels imported to Libya were not stolen, says owner
- United Nations Libya envoy resigns citing stress
- South Africa’s Ramaphosa makes case for curbing public wage bill
- South Africa’s rand strengthens as Fed cut bets slow virus-linked selloff
- Africa Oil – Trading slow as virus fears weight
- Egypt’s net foreign reserves rise to $45.51 bln in February – c.bank
- Somalia agrees offshore oil exploration roadmap with Shell/Exxon – minister
- Somali forces, supposed to unite against [terrorists], fight each other
- Ivory Coast dry weather raises mid-crop concerns – farmers
- Ivory Coast 2019/20 cocoa port arrivals seen at 1.545 mln T by March 1 – exporters
- South Africa’s Bidvest seeks more hygiene sector deals
- OPEC meetings to go ahead this week despite virus – sources
- Libya govt to move from defence ‘to attack’, minister says
- Somalis turn to Dr Hyena to fight depression, mental illness
- Uganda shilling holds steady as importer demand recedes
- South Africa’s Absa PMI falls to lowest in over a decade
- South Africa – Investec’s Ninety One pushes on with float despite market turmoil
- South Africa’s rand firmer as Fed cut bets slow virus-linked selloff
- South Africa’s Ramaphosa says “focused discussions” needed on public wage bill
N.B. Full stories of above headlines are available on Reuters