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
