#Africa #Markets | 12 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Pound soars, Asian shares rally after Brexit deal changes
  • MSCI Asia ex-Japan +1 pct; Nikkei up 1.9 pct
  • Pound gains 0.5 pct on ‘last chance’ Brexit deal
  • China bluechips add 1.3 pct

Oil Markets

  • Oil prices rise on OPEC’s supply cuts and healthy demand
  • Venezuela’s crisis also supports crude prices
  • Brent up 0.3 pct at $66.76 per barrel (0012GMT)
  • WTI up 0.4 pct at $56.99 per barrel

Precious metals

  • Gold inches down as updated Brexit deal improves risk appetite
  • Spot gold down 0.1 pct at $1,293.17 per ounce (0104GMT)
  • US gold futures up 0.1 pct at $1,292.90 an ounce

Grains

  • Wheat edges away from 14-mth low
  • But tepid global demand caps wheat gains
  • Most active CBOT wheat futures up 0.2 pct at $4.29-1/4 per bushel (0100GMT)
  • Most active corn futures up 0.1 pct at $3.62-1/4 per bushel
  • Most active soy futures little changed at $8.90-1/4 per bushel
  • Most active rice futures unchanged at $10.72 per hundredweight

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

  • France’s Macron 2-day visit to Ethiopia
  • South Africa’s state capture inquiry continues
  • South Africa’s PIC inquiry continues
  • Nigeria’s parliament resumes
  • Misconduct trial of suspended Nigeria chief justice Onnoghen continues
  • South Africa’s Ramaphosa in Harare for 3rd SA-Zimbabwe binational commission

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Results of Ethiopia crash investigation needed before conclusions drawn – IATA head
  • Panama’s Copa Airlines says awaiting results of Ethiopia crash probe
  • CERAWEEK – Barkindo says OPEC has helped US shale, as the two plan to meet again
  • US says 737 MAX safe to fly after Ethiopia crash; Boeing shares dip
  • As China prevails, France’s Macron shuffles his cards in Djibouti
  • Algeria’s Bouteflika abandons re-election bid after weeks of protest
  • France says welcomes Bouteflika decision not to seek fifth term in Algeria
  • Canada will take action once cause of Ethiopia plane crash known – minister
  • New constitution for Algeria will be submitted to a referendum
  • Adviser to Niger official arrested in Guinea Bissau cocaine bust
  • Noureddine Bedoui is Algeria’s new prime minister – Ennahar tv
  • Africa Crude – Angolan clears slowly
  • Prize-winning author, 21 UN workers among dead in Ethiopia Airlines crash
  • Royal Air Maroc grounds Boeing 737 MAX 8 after Ethiopian crash
  • Violence sparks first major humanitarian crisis in Burkina Faso
  • After Ethiopia crash horror, some nations ground Boing 737 MAX 8s
  • Ethiopia plane smoked and shuddered before deadly plunge
  • South Africa’s rand firms on improved risk appetite, Naspers lift stocks
  • South Africa’s Comair takes Boeing 737 MAX off schedules
  • Nigeria elections have “systemic failings”, need serious reform – EU
  • Zambia external debt rose to over $10 bln at end 2018 – finmin
  • IEA sees US leading global oil supply growth to 2024
  • Sudan’s parliament cuts state of emergency to 6 months
  • Algeria’s biggest labour union says change is necessary but must be peaceful
  • Ex-Congo VP seeks damages from war crimes court
  • Qatar Petroleum takes stake in Mozambique exploration block
  • Algeria clerics urge religious affairs minister to stop pressuring them to make pro-govt sermons – clerics leader
  • Zimbabwe cenbank head hints at more weakening of new currency
  • Algeria justice minister urges judges to remain neutral
  • Dozens of militants killed in shootouts in Egypt’s Sinai – military
  • Cockpit voice recorder, digital flight data recorder from Ethiopia Airlines flight recovered
  • Tobacco auctions could move exchange rate for Zimbabwe’s transitional currency – cenbank gov
  • Willis is broker on Ethiopia Airlines – spokewoman
  • Algeria judges refuse to oversee vote if Bouteflika participates – statement
  • Zimbabwe annual inflation to fall by as much as 15 pct by end of year – cenbank gov
  • Uganda shilling unchanged, biased on stronger side
  • South Africa’s Old Mutual FY profit drops; co plans $138 mln buyback
  • Kenya shilling strengthens against the dollar
  • Libyans fear showdown as eastern commander eyes capital
  • Barclays Bank Kenya says 2018 full year pre-tax profit rises to 10.65 bln shillings
  • South Africa’s Absa bank full-year earnings dip

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

#Global #Markets | 12 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
08:00 Australia RBA Debelle Speech 
09:00 China FDI (YTD) YoY 
09:00 Euro Area EcoFin Meeting 
09:30 Sweden CPIF YoY 
09:30 Sweden Inflation Rate MoM 
10:30 UK Construction Output YoY 
10:30 UK Industrial Production MoM 
10:30 UK Industrial Production YoY 
10:30 UK Manufacturing Production MoM 
10:30 UK Manufacturing Production YoY 
10:30 UK Balance of Trade 
10:30 UK GDP 3-Month Avg 
NEWS
Dutch Manufacturing Output Rebounds in January 
Singapore Retail Sales Rise for First Time in 3 Months 
Thailand Consumer Sentiment Rises to 5-Month High 
Philippines Imports Rebound in January 
Philippines Exports Fall 3rd Month 
Philippines Trade Gap Widens in January 
Australia Business Confidence Falls to 37-Month Low 
US Stocks Surge on Monday 
European Shares Finish Higher on Monday 
Sterling Rises Ahead of Brexit Vote 
Jordan Inflation Rate Lowest in Over 2 Years 
Brazil Car Output Rises 29.9% MoM in February

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 11 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares decline as US jobs data clouds global outlook
  • Asian ex-Japan shares almost flat
  • Payrolls shockingly low though many see weakness as temporary
  • US bond yields at 2-mth lows
  • China lending, money supply data miss forecasts

Oil Markets

  • Oil rises as OPEC’s output cuts set to continue, US drilling activity slumps
  • Saudi’s Falih says too early to change OPEC+ policy in April
  • US drilling activity falls for 3rd week
  • Brent down 0.3 pct at $65.91 per barrel (0016GMT)
  • WTI down 0.3 pct at $56.26 per barrel

Precious metals

  • Gold inches lower as firm dollar offsets falling equities
  • Spot gold down 0.1 pct at $1,296.73 per ounce
  • US gold futures down 0.1 pct at $1,298.10 an ounce

Grains

  • Soybeans rebound on Chinese buying, wheat up for 2nd day
  • Most active CBOT wheat futures up 0.3 pct at $4.41 per bushel (0115GMT)
  • Most active corn futures up 0.8 pct at $3.67 per bushel
  • Most active soy futures up 0.3 pct at $8.98-1/4 per bushel
  • Most active rice futures down about 0.1 pct at $10.82 per hundredweight

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

  • South Africa’s state capture inquiry resumes
  • South Africa’s Ramaphosa campaign walk in Park station, Johannesburg
  • Misconduct trial of Nigeria’s suspended chief justice Onnoghen to resume
  • South Africa’s Public Investment Corporation inquiry resumes

Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Ailing president returns to Algeria as mass protests swirl
  • Spokesman of leading Rwanda opposition politician found dead
  • Ethiopia airlines flight to Nairobi, Kenya crashes, killing 157
  • Libya’s El Sharara oilfield to reach 300,000 bpd in 2 weeks – field engineer
  • Governor election counting halted in southern Nigeria oil state
  • Morocco takes back citizens from northern Syria – US-backed SDF
  • Sudan opposition leader’s daughter jailed over protests – party
  • Egypt’s Canal Sugar inks financing deal worth $169 mln
  • US to send teams to assist in Ethiopia Airlines crash
  • Egypt’s Sisi appoints close military ally as transport minister
  • Algeria’s army chief of staff says ties between the army and the people are strong – TV
  • Egypt’s urban inflation jumps to 14.4 pct in Feb
  • Egypt’s core inflation rises to 9.2 pct y/y in Feb – cbank
  • Ethiopia flight “had unstable vertical speed” – flight tracking site
  • Death toll from Malawi flooding rises to 28, almost 227,000 people affected
  • Malaysia deports 6 Egyptians despite concerns over torture, rights abuses
  • Tunisia’s health minister resigns after 11 babies die in hospital
  • Libya’s Tripoli airport reopens after drone alert
  • Turnout low in vote for powerful Nigeria state governors
  • Sudan women protesters sentenced to 20 lashes, month in jail
  • Congo’s Mai Mai militiamen attack ebola treatment centre
  • Algeria orders early university holiday as students spur protests
  • Rwanda aims to sell stake in cement firm Cimerwa this month
  • Libyans fear shutdown as eastern commander eyes capital
  • On international women’s day, Sudan’s Bashir orders release of female detainees
  • Algeria detains 195 people during protests – state TV
  • Some 50 migrants wounded by clash inside detention centre in Libya – UN
  • Algeria state news agency says protesters demand “regime change”
  • Gunmen kill ranger in Congo’s Virunga park after reopening
  • Top performer Kenya’s bond market suffers worst day since November
  • Algeria army magazine says the army and people belong to one country – APS
  • Africa Crude – Sellers of Angolan trim some offers
  • Congo’s ex-leader Kabila’s party to pick prime minister – sources
  • South Africa bond demand at 6-mth high despite c.bank plan
  • Malawi floods kill 23, knock out power and water supplies
  • Hundreds protest against Sudan govt after Friday prayers
  • Tanzania orders cleanup at Acacia gold mine, threatens closure
  • Kenya shilling firm against the dollar
  • Without vaccine, hundreds of children die in Madagasacar measeles outbreak
  • Tanzania gives Acacia Mining to March 30 to stop water pollution at one of its mines or face shutdown

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

#Global #Markets | 11 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
05:00 Malaysia Unemployment Rate 
08:00 Germany Industrial Production MoM 
08:00 Germany Balance of Trade 
08:00 Germany Balance of Trade s.a 
08:00 Germany Exports MoM s.a 
08:00 Germany Imports MoM s.a 
08:00 Turkey GDP Growth Rate YoY 
08:00 Turkey GDP Growth Rate QoQ 
09:00 Euro Area Eurogroup Meeting 
10:30 UK Consumer Inflation Expectations 
13:30 US Retail Sales Ex Autos MoM 
13:30 US Retail Sales MoM
NEWS
China New Yuan Loans Lower than Expected 
Israel Current Account Surplus Widens in Q4 
Israel GDP Growth Revised Down to 3% in Q4 
Rwanda Consumer Prices Drop 0.4% YoY in February 
Egypt Inflation Rate at 3-Month High of 14.4% 
China Producer Prices Stay at 28-Month Low 
China Inflation Rate Slows to 13-Month Low of 1.5% 
Moody’s Upgrades Panama’s Credit Rating to ‘Baa1’ 
Fitch Assigns Benin ‘B’ Rating, Positive Outlook 
S&P Changes Bosnia & Herzegovina’s Outlook to Positive 
US Stocks Edge Down on Friday 
El Salvador Annual Inflation Rate Rises to 0.35% in February

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 8 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks dealt body blow as China exports tank
  • China Feb exports dive 20.7 pct y/y, imports -5.2 pct
  • Nikkei falls 2 pct, Shanghai blue chips off almost 3 pct
  • Dollar and yen in demand as euro nurses losses
  • Bond yields drop globally on bets for more easing

Oil Markets

  • Oil prices slide as economic outlook darkens, US supply surges
  • Soaring output to make US the world’s top oil exporter – Rystad
  • Brent down 0.8 pct at $65.78 per barrel (0528GMT)
  • WTI down 0.7 pct at $56.25 per barrel

Precious metals

  • Gold steadies as ECB stance drag equities; US jobs data eyed
  • Spot gold steady at $1,285.17 per ounce (0119GMT)
  • US gold futures flat at $1,286 an ounce

Grains

  • Wheat hovers near 14-mth low, set for 4 pct weekly fall
  • Most active CBOT wheat futures up 0.2 pct at $4.39-1/4 per bushel (0125GMT)
  • Most active corn futures up 0.3 pct at $3.66-1/2 per bushel
  • Most active soy futures barely changed at $9.02-1/4 per bushel
  • Most active rice futures down 0.4 pct at $10.75 per hundredweight

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

  • South Africa’s state capture inquiry resumes; since sitting on Tuesday
  • Sierra Leone’s Bio at Harvard for forum
  • Nigeria’s gubernatorial elections tomorrow

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • US indicts Mozambique’s former finmin over $2 billion loan scheme
  • US says Zimbabwe failed to make needed political, economic changes
  • South Africa’s Eskom may need more bailouts despite tariff hikes
  • Model turned activist Waris Dirie says world is ignoring the crime of FGM
  • Africa Crude – Demand for Angolan slows
  • Zimbabwe to allow foreign platinum miners control of local operations
  • Botswana sees lower mineral revenues in 2019
  • Battle against ebola being lost amid militarised response, MSF says
  • South Africa’s rand falls after ECB, Eskom tariffs news
  • Awash with plastic bottles and lacking a law, Kenya struggles to recycle
  • Ex-CEO of Tanzania’s Bank M charged with fraud, money laundering
  • Over 8 million Ethiopians need food aid due to violence, drought – govt
  • South Africa’s Eskom dollar bonds jump after regulator grants tariff increase
  • Namibia tribes to appeal US ruling on German colonial horrors
  • Kenya’s shilling strengthens to its highest in four years
  • Algeria’s Bouteflika, facing demands to quit, warns against infiltration of protests
  • Sudan protesters defy emergency measures to rally in Khartoum
  • Tunisia: We are starting to put tourism crisis behind us
  • Zimbabwe central bank denies new currency rate being fixed
  • African telecoms titian MTN slims down with $1 bln divestment plan
  • South African regulator grants Eskom smaller tariff hikes than sought
  • Most African currencies seen firm next week
  • Egypt forces kill 7 militants near Cairo – govt
  • Kenya shilling rises to its strongest level since July 2015
  • Danish police charge 14 for sharing Morocco murder video on social media
  • Algeria lawyers take to the streets to back anti-Bouteflika protests
  • Ghost workers sap Tunisia’s phosphate wealth
  • Uganda shilling edges up after demand for dollars tapers off
  • South African bank Absa could cut hundreds of jobs, union says
  • South Africa’s Q4 current account deficit narrows to 2.2 pct of GDP
  • South Africa’s Sanlam hit by global markets rout, weak growth at home
  • South Africa’s Standard Bank posts leaner FY earnings growth
  • MTN aims to float Nigeria unit in Lagos during first half
  • South Africa’s net foreign reserves rise to $43.7 bln in February

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

#Global #Markets | 8 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
08:00 Germany Factory Orders MoM 
08:45 France Balance of Trade 
08:45 France Industrial Production MoM 
10:00 Italy Industrial Production MoM 
10:30 UK Consumer Inflation Expectations 
14:15 Canada Housing Starts 
14:30 US Housing Starts MoM 
14:30 US Building Permits MoM 
14:30 US Building Permits 
14:30 US Housing Starts 
14:30 Canada Full Time Employment Chg 
14:30 Canada Part Time Employment Chg
NEWS
China Trade Surplus Smallest in 11 Months 
China Imports Fall More than Expected in February 
Japan Q4 GDP Growth Revised Higher to 0.5% 
Japan Current Account Surplus Widens 
Japan Total Cash Earnings Grow 1.2% YoY 
Peru Holds Interest Rate at 2.75% 
Japan Household Spending Beats Expectations 
South Korea Current Account Surplus Widens 
Peru Trade Surplus Narrows in January 
New Zealand Manufacturing Sales Rebound in Q4 
US Stocks Extend Losses on Thursday 
US Consumer Credit Growth Beats Expectations

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 7 Mar

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares sluggish as global growth concerns return; ECB meeting eyed
  • Wall St stocks fall to 3-wk low on growth worries
  • OECD cuts global growth forecasts again
  • US goods trade deficit hits record high in 2018
  • ECB in focus; set to lower outlook, could hint new TLTROs

Oil Markets

  • Oil edges up on OPEC cuts, US sanctions against Venezuela and Iran
  • OPEC has led supply cuts this year to tighten market
  • Venezuela’s PDVSA struggles to export oil amid US sanctions
  • US crude oil inventories rise amid record output – EIA
  • Brent crude futures up 0.6 pct at $66.36 per barrel (0234GMT)
  • US WTI crude futures up 0.4 pct at $56.45 per barrel

Precious metals

  • Gold firm as risk sentiment takes backseat; strong dollar caps gains
  • Gold may hover above $1,283/oz support – analyst
  • Platinum touch lowest since Feb. 22 at $819/oz
  • Spot gold steady at $1,286.25 per ounce (0521GMT)
  • US gold futures down 0.1 pct at $1,286.70 an ounce

Grains

  • Wheat steadies, but tepid US export demand caps gains
  • Most active CBOT wheat futures up 0.1 pct at $4.50-1/2 per bushel (0335GMT)
  • Most active corn futures down 0.3 pct at $3.71-1/2 per bushel
  • Most active soy futures unchanged at $9.02 per bushel
  • Most active rice futures unchanged at $10.87 per hundredweight

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

  • Kenya 6th devolution conference to close; by DP Ruto
  • South Africa’s Ramaphosa to answer questions in parliament
  • South Africa current account balance data for Q4-2018 expected [fcst. -3.2% of GDP, prev. -3.5%]

Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • South Africa’s net foreign reserves rise to $43.7 bln in February
  • South Africa’s MTN to raise $1 bln from asset sales, FY profit surges 85 pct
  • South Africa’s top insurer Sanlam FY earnings drop by 8 pct
  • Libya’s NOC, oil majors set up $20 mln fund to support local near oilfield
  • South African leader condemns violence against women as assault film goes viral
  • Nigeria opposition to inspect vote materials after Buhari’s win
  • Sudan’s Bashir appoints new central bank governor – presidency
  • South Africa’s Sasfin, Hello Paisa launch bank for thousands without accounts
  • Sudan opposition party says security officials thwart its news conference
  • Algeria war veterans back protests demanding end to Bouteflika’s rule
  • Africa Crude – Traders await tender result, spot demand slows
  • Algeria labour union branches oppose Bouteflika’s re-election – statement
  • People with albinism protest in Malawi as attacks spike ahead of polls
  • South Africa central bank says unrealistic to target specific employment level
  • France monitoring Algeria protests, says up to people to decide future
  • Traffickers used Russia’s World Cup to enslave us, say Nigerian women
  • Egypt activists and media targeted by phishing attacks – Amnesty
  • Flights resume after strike at Kenya’s main airport grounds thousands of passengers
  • Tunisia to hold autumn parliamentary and presidential elections
  • Zimbabwe says rapprochement with West still on despite US sanctions
  • Kenya’s KCB Group reports rebound in annual earnings, shares up
  • Cameroon risks further slide into violence – UN rights chief
  • South Africa central bank still sees 2019 growth at 1.7 pct
  • Debt inflows, remittances support Kenyan shilling
  • Uganda shilling weakens as dividend payments weigh
  • South Africa business confidence falls to 5-mth low in Feb
  • African fuel retailer Vivo Energy posts higher profit, volumes
  • Foreign holdings in Egypt treasuries at $15.8 bln – finmin
  • Zambia plans to swap Chinese debt from dollars to yuan – minister

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