By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks plummet after Trump bans travel from Europe to contain coronavirus blow
- Asian shares hit lowest level since early 2019
- US stock futures down more than 4.5%
- Markets expect ECB to cut rates despite side-effects worries
Oil Markets
- Oil slumps as US bans travel from Europe over pandemic
- Brent down 5.3% at $33.88 per barrel (0339GMT)
- WTI down 5.3% at $31.24
Precious metals
- Gold edges up as virus fears deepen after US travel ban
- Spot gold up 0.1% at $1,636.37/oz. (0415GMT)
- US gold futures down 0.4% at $1,636.30/oz.
Grains
- Soybeans drop to 6-mth low, wheat eases for a second day
- Soybean down 0.9% at $8.65 a bushel (0137GMT)
- Corn down 0.9% at $3.71 a bushel
- Wheat down 1% at $5.07-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Nigeria COVID-19 economic stimulus measures expected; after key stakeholders’ Buhari meeting yesterday
- South Africa’s Eskom stage 4 loadshedding continues (until 13 Mar)
- South Africa manufacturing production Jan-20 [fcst. -5.8% yy, prev. -5.9%]
- South Africa mining production Jan-20 [fcst. -0.2% yy, prev. 1.8%]
- Libya contact group meets in Congo (11-12 Mar); South Africa’s Ramaphosa attending
- South Africa state capture inquiry continues
- 22nd African forestry & wildlife commission (AFWC) in Kruger Park, South Africa; 9-13 Mar
Key African events or data releases yesterday & early a.m today
- Egypt’s confirmed coronavirus cases increase to 67
- Somalia allege US air strike killed six civilians; Africa command investigating
- South Africa’s Eskom says power cuts to last until Friday
- Africa Oil – Weaker on lower demand, Nigerian overhang
- UN chief considers naming Algerian diplomat as new Libya envoy – diplomats
- US blacklists Zimbabwe officials over human rights abuse
- US team in Sudan to probe PM assassination attempt – minister
- Ivory Coast confirms first case of coronavirus – health ministry
- South Africa’s rand weakens as coronavirus worries weigh
- US blacklists Zimbabwe officials over human rights abuse
- Miscarriage of justice? Family of Libyan Lockerbie bomber can appeal conviction
- East Libyan central bank says it will not lend to parallel govt any more
- Scotland agrees to posthumous appeal of Libyan convicted of 1988 Lockerbie bombing
- Zimbabwe to switch to managed float exchange rate in latest move
- South Africa’s MTN Group CEO to step down in March next year
- Nigeria bond spreads widen as investors fret over naira, oil price
- Egypt jails prominent political figure for a year over “false news”
- Uganda shilling holds steady due to low demand for dollars
- South Africa business confidence sinks to 21-yr low – survey
- Kenya shilling strengthens on non-governmental inflows
- Co-op Bank Kenya seeks to fully acquire Jamii Bora Bank
- New CEO of Absa to review strategy as South Africa economy hurts lenders
- South Africa’s Absa reports 3% rise in full-year profit
- Chief executive of South Africa’s MTN to step down in March next year
N.B. Full stories of above headlines are available on Reuters
