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

Global Markets

• Asia shares follow Wall St higher, but virus risk lurks
• Nikkei up 0.8% early, investors still cautious
• Wall St surges, some relieved at Biden success
• Virus spread still causing deaths, economic dislocation
• Dollar regains some ground as yields rise off record lows

Oil Markets

• Oil rises more than 1% ahead of OPEC meeting to discuss supply cuts
• Brent up 1.3% at $51.80 per barrel (0436GMT)
• WTI up 1.2% at $47.33

Precious metals

• Gold prices little changed amid virus fears, stronger equities weigh
• Spot gold up 0.1% at $1,637.80/oz. (0059GMT)
• US gold futures down 0.2% at $1,693.10/oz.

Grains

• Soybeans poised to gain for a fourth session
• Soybean futures up 0.2% at $9.08-3/4 a bushel (0139GMT)
• Corn futures down 0.3% at $3.85 a bushel
• Wheat futures up 0.1% at $5.18-3/4 a bushel

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

• OPEC+ meets in Vienna; 5-6 Mar
• Ivory Coast’s Ouattara delivers state of the nation address
• South Africa current account balance Q4-2019 [fcst. -4.1% of GDP, prev. -3.7%]
• South Africa SACCI business confidence Feb-20 [prev. 92.2]
• South Africa’s 2020 Black Business Summit in Johanesburg

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

• Nigeria to back $2.59 bln AKK gas pipeline with sovereign guarantee
• Senegal confirms third and fourth coronavirus cases
• Algeria reports nine new coronavirus cases – health ministry
• Avoiding hugs, OPEC officials greet with their feet amid virus outbreak
• Africa Oil – Spot trade slow on lacklustre demand
• Kenya accuses Somalia of violating its territory in escalating regional feud
• Tunisia suspends northern Italy ferry services over coronavirus
• South Africa’s rand clings on to post-Fed windfall after recession shock
• Uganda jails filmmaker doing documentary on opposition hopeful
• Egypt bars Qataris over coronavirus fears
• Shipping goods into Nigeria costs more than for African peers
• Egypt plans to sell $500 mln Banque du Caire stake via IPO in April – chairman
• African airlines face $40 mln in 2020 from coronavirus
• Zambia signs over $824 mln deal with China Railway for line upgrades
• Egypt executes top militant extradited from Libya
• Driving lorries, blasting rocks – Women break the mould at Burkina Faso gold mines
• IMF says in broad agreement with Kenya on deficit reductin plan
• Kenya private sector activity drops further in February – PMI
• Kenya shilling weakens on central bank plan to buy dollars
• South Africa private sector activity slips again in February
• Ethiopia’s enslaved child maids seek solace at night school

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