#Africa #Markets | 22 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares fall as weakening global outlook offsets trade progress
  • MSCI Asia ex-Japan down 0.1 pct
  • China home price growth eases in January
  • Aussie dollar rebounds as officials seek to reassure investors

Oil Markets

  • Oil prices fall as US crude output hits record 12 mln bpd
  • Brent down 0.3 pct at $66.87 per barrel (0326GMT)
  • WTI down 0.2 pct at $56.84 per barrel

Precious metals

  • Gold prices rise on trade talk optimism; Fed stance limits gains
  • Spot gold up 0.2 pct at $1,325.52 per ounce (0548GMT)
  • US gold futures unchanged at $1,328.1 per ounce

Grains

  • Wheat prices edge up, but set to finish week down more than 2 pct
  • Most active CBOT wheat futures up 0.3 pct at $4.87-3/4 per bushel (0156GMT)
  • Most active corn futures up 0.1 pct at $3.75-3/4 per bushel
  • Most active soy futures down about 0.1 pct at $9.10-1/2 per bushel
  • Most active rice futures up about 0.1 pct at $10.40 per hundredweight

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

  • South Africa’s state capture inquiry continues; Eskom chair Mabuza to testify
  • Nigeria on public holiday ahead of key elections tomorrow

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

  • Sime Darby Plantation considers exiting West Africa palm oil operations – sources
  • Eastern Libya military forces claim control of El Feel oilfield
  • Libya El Feel oilfield output still around 75,000 bpd, reports of fighting not correct – engineer
  • Africa Crude – Sonangol sells all April cargoes in firm market
  • Algeria’s president to visit Switzerland for medical checks – presidency statement
  • After Eskom bailout, focus shifts to South Africa’s credit rating
  • South African insurer Discovery could consider future acquisitions
  • Nigeria’s Buhari, Atiku make final pitches for support before delayed vote
  • Zimbabwe’s currency reality check puts plaster on deep wound
  • South Africa’s Truworths first-half earnings drop on lower spending
  • Nigeria’s Zenith Bank sees loan growth in 2019 as economy recovers
  • Higher South African spending limit will not weaken policy credibility – Moody’s
  • Nigeria’s electoral commission says 86.6 pct of voting cards collected
  • Eskom support will weigh on South Africa’s finances – S&P Global
  • Sudan security forces arrest prominent party leaders – opposition member
  • AMCU plans to extend Sibanye gold strike to other South Africa miners
  • Congo police executed 27 in anti-gang operation – Human Rights Watch
  • Global sovereign debt to jump to $50 trillion – S&P Global
  • South Africa’s Woolworths axes dividend from Australian business to ease debt
  • South Africa’s Eskom bailout could reach 150 bln rand
  • South Africa’s state firms, wages top risks to public finances – finmin
  • Nigeria opposition candidate Atiku Abubakar would continue Niger Delat amnesty programme – policy advisor
  • South Africa’s AMCU plans sympathy strike at Sibanye platinum shafts
  • Uganda shilling holds steady due to sluggish demand for dollars
  • Algeria military plane crash kills two – ministry
  • South Africa’s AMCU union plans sympathy strikes at Amplats, Lonmin
  • MTN Uganda denies it understates revenues, says it is fully tax-compliant
  • South Africa’s MTN says chief of Iranian associate to retire

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

#Global #Markets | 22 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
08:00 Turkey Capacity Utilization 
08:00 Turkey Business Confidence 
08:00 Germany GDP Growth Rate YoY Final 
08:00 Germany GDP Growth Rate QoQ Final 
08:30 Switzerland Industrial Production YoY 
10:00 Germany Ifo Current Conditions 
10:00 Germany Ifo Expectations 
10:00 Germany Ifo Business Climate 
11:00 Euro Area Inflation Rate MoM 
11:00 Euro Area Core Inflation Rate YoY Final 
11:00 Euro Area Inflation Rate YoY Final 
12:00 UK CBI Distributive Trades
NEWS
Malaysia Consumer Prices Drop for 1st Time in Over 9 Years 
Malaysia Leading Index Falls 1.4% MoM in December 
Thailand Imports Surge Unexpectedly 
Thailand Exports Fall More than Estimated 
Thailand January Trade Gap Largest in Near 6 Years 
House Price Falls in Australia Not All Bad: RBA Lowe 
Japan Core Inflation Edges Up to 0.8% 
Japan Inflation Rate Slows to 15-Month Low 
Moody’s Changes Bahamas’ Rating Outlook to Stable 
Jamaica Inflation Rate Edges Down to 25-Month Low 
Argentina Trade Surplus Below Expectations 
European Shares Close Mostly Lower

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 21 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares up on Fed outlook
  • Aussie dollar seesaws after strong jobs data
  • Fed minutes (29-30 Jan meeting) provide some relief
  • Investors expect US, China to reach trade deal next month

Oil Markets

  • Oil ticks over near 2019 highs amid OPEC cuts
  • But economic slowdown applies brakes
  • Brent up 6 cents at $67.14 per barrel (0256GMT)
  • WTI up 17 cents at $57.33

Precious metals

  • Gold hovers near 10-mth peak amid steady dollar after Fed minutes
  • Spot gold up 0.1 pct at $1,339.99 per ounce (0054GMT)
  • US gold futures down 0.4 pct at $1,342.5 per ounce

Grains

  • Wheat prices inch up from 7-mth low, but soybeans edge down
  • Most active CBOT wheat futures up 0.4 pct at $4.82-1/2 per bushel (0157GMT)
  • Most active corn futures up about 0.1 pct at $3.71 per bushel
  • Most active soy futures down 0.1 pct at $9.01-1/2 per bushel
  • Most active rice futures up 0.4 pct at $10.21 per hundredweight

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

  • Ghana state of the nation address (SONA) by Akufo-Addo today
  • Speech by presidential contender of main opposition Nigerian party expected
  • Rwanda central bank to present monetary policy & financial stability statement

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 Steinhoff gets shareholder petition for inquiry before Dutch court
  • South Africa’s Woolworths half-year earnings drop
  • France sale to Egypt helps lift EU wheat off 7-mth low
  • South Africa pledges $5 bln Eskom bailout as budget creaks
  • Zimbabwe scraps bond-note dollar peg, paves way for exchange rate slide
  • South Africa’s budget shows limited fiscal flexibility – Moody’s
  • Africa Crude – Nigeria April programmes expected, tenders in focus
  • Egypt executes nine over public prosecutor’s killing
  • South Africa’s rand flat after slipping in knee-jerk reaction to budget
  • UN reports mass rape, killings, torture in South Sudan, seeks oil scrutiny
  • Tunisia central bank sees inflation below 7 pct after rate rise
  • Sudan’s economic decline provides fuel for anger against Bashir
  • Zambia, Zimbabwe shortlist foreign firms to build hydro plant
  • Ivory Coast cuts 2019 cashew farmgate price 25 pct
  • Deutsche Bank to rebuild in South Africa, months after cuts
  • US, Britain, Norway alarmed at escalationg violence in South Sudan
  • EU illegal migrants arrivals fall but stronger borders needed – Frontex head
  • Bank Audi studies buying National Bank of Greece’s Egypt unit – source
  • Petrol suppliers cut price to encourage Nigerians to travel to vote again
  • “Two is enough”, Egypt tells poor families as population booms
  • Libya’s ancient ruins blighted by theft, shunned by tourists
  • Zimbabwe scraps bond note, US dollar peg – central bank
  • Tunisia central bank chief says raising rates not enough to curb inflation
  • Zimbabwe launches forex interbank market amid currency crunch
  • South Africa Eskom dollar bonds broadly gain after budget
  • South Africa to bail out Eskom without taking on debts
  • VW South Africa targets record output despite headwinds
  • South Africa dollar bonds fall after growth forecasts slashed in budget
  • South Africa’s Eskom to get 69 bln rand bailout over 3 years
  • Barrick outlines proposal to settle Acacia dispute with Tanzania
  • South Africa miner Sibanye raises loss estimate by $100 mln-plus
  • Tanzania rebases economy, 2015 GDP now 3.8 pct larger – stats office
  • Egypt issues $4 bln in foreign currency bonds – finance ministry
  • Zambia finmin orders cleanup of public payroll
  • ‘No place to sell’: thousands hit in Zimbabwe clampdown on street vendors
  • Zambia debt weighing on central bank reserves – governor
  • Kenya paves way for green bonds in 2019 with new rules
  • Egypt executes 9 men over killing of public prosecutor
  • Chinese “Ivory Queen” smuggler sentenced to 15 years in jail in Tanzania
  • Uganda ruling party backs Museveni re-election bid
  • South Africa’s EOH Holdings founder and chair resigns
  • Kenya shilling steady, expected to firm due to remittance inflows
  • Egypt will issue more international bonds by end June – minister
  • South Africa consumer inflation falls to 4.0 pct in January
  • South Africa Bidcorp HY profit rise on upbeat European market

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

#Global #Markets | 21 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
08:00 Germany Inflation Rate YoY Final 
08:00 Indonesia Interest Rate Decision 
08:45 France Business Confidence 
09:00 Euro Area ECB Praet Speech 
09:15 France Markit Manufacturing PMI Flash 
09:15 France Markit Services PMI Flash 
09:30 Germany Markit Services PMI Flash 
09:30 Germany Markit Manufacturing PMI Flash 
09:30 Hong Kong Unemployment Rate 
10:00 Spain Balance of Trade 
10:00 Euro Area Markit Manufacturing PMI Flash 
10:00 Euro Area Markit Services PMI Flash
NEWS
Dutch Jobless Rate Steady at 3.6% in January 
Singapore Current Account Surplus Widens in Q4 
Australia Jobless Rate Unchanged at 5%, Matches Estimates 
Jamaica Cuts Interest Rate by 25 Bps to 1.5% 
Fed Policymakers Unsure on Future Rate Hikes: Minutes 
European Shares Close Higher 
Eurozone Consumer Morale Stronger than Expected 
Belgium Consumer Confidence Lowest in Over 2 Years 
Argentina Economic Activity Falls the Least in Near a Year 
Russia GDP Growth Eases to 14-Month Low 
Brazil Business Confidence Deteriorates in February 
Armenia GDP Growth Rate Accelerates to 3.4% in

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 20 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares rally to 4-1/2-mth peak on hopes of US-China trade deal
  • Ex-Japan Asia MSCI up 1 pct to highest since early Oct
  • Investors expect US, China to reach trade deal next month
  • Minutes of Fed’s Jan 29-30 policy meeting in focus

Oil Markets

  • Oil near 2019 highs amid OPEC cuts, US sanctions
  • US sanctions on Iran, Venezuela tighten markets
  • But soaring US shale output offsets some of the disruption
  • Economic slowdown to weigh on oil prices by Q4 – BNP Paribas
  • Brent up 0.2 pct at $66.58 per barrel (0300GMT)
  • WTI up 0.5 pct at $56.39 per barrel

Precious metals

  • Gold prices hold at 10-mth highs; markets await Fed minutes
  • Spot gold marginally lower at $1,339.61 per ounce (0021GMT)
  • US gold futures down 0.2 pct at $1,342.6 an ounce

Grains

  • Wheat rises after dropping to 4-mth low, soybean prices firm
  • Most active CBOT wheat futures up 0.3 pct at $4.91-1/4 per bushel (0134GMT)
  • Most active corn futures up 0.5 pct at $3.71-3/4 per bushel
  • Most active soy futures up 0.1 pct at $9.01-3/4 per bushel
  • Most active rice futures up 0.2 pct at $10.01 per hundredweight

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

  • South Africa 2019 budget to be presented by finmin Mboweni today
  • South Africa inflation data for Jan-19 expected [fcst. 4.5% yy, prev. 4.5%]
  • Reserve Bank of Zimbabwe to announce MPC decision(s) today
  • South Africa state capture inquiry continues

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

  • Libya’s NOC to assess security at El Sharara before resuming production
  • Death toll from northwest Nigeria attack doubles to 130
  • Eastern Libya forces hand El Sharara oilfield to oil guards
  • Tunisia central bank raises key rate to 7.75 pct from 6.75 pct to curb inflation
  • Zimbabwe to run out of bread in 1 week as flour stocks dwindle – millers
  • Chinese “Ivory Queen” smuggler sentenced to 15 years jail in Tanzania
  • Africa Crude – Nigeria March overhang persists as April programmes awaited
  • South Africa’s rand tepid ahead of annual budget speech
  • MTN faces more problems in Uganda as authorities query its sales figures
  • Delta Sugar looks to raise output as Egypt pushes sugar beet
  • South Africa parliament approves long-delayed carbon tax bill
  • Glencore to cut output, jobs at copper, cobalt mine in Congo – WSJ
  • UN says fighting, instability have displaced 100,000 in Burkina Faso
  • South Africa need to invest to rebuild confidence in power sector – minister
  • South Africa’s AngloGold looks to streamline assets, Argentine mine up for sale
  • South Africa updated long-term energy plan to be ready in March – minister
  • ‘Basic needs before infrastructure’: fashioning a fairer Senegal
  • Egypt security forces kill 16 suspected militants – state media
  • South Africa govt meeting fails to break Eskom split impasse – COSATU
  • Union Fenosa says guarantees not sufficient to restart Egypt LNG plant
  • South Africa defence group Denel to seek investment partners: CEO
  • Egypt begins receiving offers for dollar bond sale – finmin
  • South Africa’s AMCU calls on Sibanye platinum workers to join strike
  • Kenya says crude oil capacity insufficient for refinery
  • South Africa needs to invest, build confidence in power generation – Radebe
  • South Africa’s Kumba Iron Ore 2018 headline earnings edge lower
  • South Africa AngloGold Ashanti posts highe full-year earnings

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

#Global #Markets | 20 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

(GMT+1)

CALENDAR
06:30 Netherlands Consumer Confidence 
08:00 Turkey Consumer Confidence 
08:00 Germany PPI MoM 
08:00 Euro Area ECB Praet Speech 
09:00 South Africa Inflation Rate YoY 
09:00 Euro Area ECB Non-Monetary Policy Meeting 
12:00 UK CBI Industrial Trends Orders 
15:00 Brazil Business Confidence 
16:00 Euro Area Consumer Confidence Flash 
20:00 US FOMC Minutes 
22:30 US API Crude Oil Stock Change 
01:00 US US-China Trade Talks
NEWS
Japan Imports Drop Less than Estimated 
Australia Wages Rise by 2.3% YoY for Second Quarter 
Japan Trade Deficit Widens More than Expected 
New Zealand Business Input Prices Rise Further 
UK Stocks End Lower on HSBC Report 
Colombia Consumer Confidence Improves in January 
Russia Wage Growth Weakest Since 2016 
Russia Unemployment Rate Rises to 9-Month High 
Russia Retail Trade Growth at 18-Month Low 
US Home Builder Confidence Stronger than Expected 
Burundi Consumer Prices Fall the Least in 5 Months 
Portugal Producer Inflation Slows to 10-Month Low

Source: Trading Economics, Macroafricaintel Research

#Africa #Markets | 19 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares near 4-mth high, buoyed by trade optimism
  • Asian shares, Japan’s Nikkei flat in early trade
  • Hopes of progress in US-China talks buoy mood
  • Palladium hits record high, gold near 10-mth peak

Oil Markets

  • Brent eases from 2019 highs as markets await trade talks outcome
  • Brent down 42 cents at $66.80 per barrel (0220GMT)
  • WTI down 12 cents at $55.71 per barrel

Precious metals

  • Gold steady near 10-mth high; palladium hits record level
  • Spot gold little changed at $1,326.10 per ounce (0048GMT)
  • US gold futures up 0.5 pct at $1,328.9 per ounce

Grains

  • Soybeans edge higher as traders hope for US-China trade deal
  • Most active CBOT wheat futures up 0.1 pct at $5.04-3/4 per bushel (0129GMT)
  • Most active corn futures up 0.3 pct at $3.75-3/4 per bushel
  • Most active soy futures up 0.3 pct at $9.10-1/2 per bushel
  • Most active rice futures unchanged at $10.09 per hundredweight

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

  • South Africa state capture inquiry continues
  • Nigeria main opposition PDP party holds 1st key meeting after polls postponement; ruling APC party held its own yesterday

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

  • 2 policemen killed in blast in Cairo, Egypt
  • Army to be “ruthless” against tampering in Nigeria’s postponed vote – Buhari
  • Oil gains as investors grow optimistic over OPEC output deal
  • Nigeria’s electoral commission allows resumption of campaigning after vote delay – statement
  • Workers at Port Sudan container terminal strike over concession deal
  • Uber agrees to pay VAT in Egypt – tax chief
  • South African billionaire Motsepe says he won’t buy Eskom assets
  • South African Airways in talks to roll over $650 mln of debt
  • Africa Crude – Angola April programme emerges, Nigeria’s awaited amid election delay
  • Nigeria’s election delay triggers stock market selloff
  • ‘Africans are tired’: hairdresser hopes for change as Senegal election nears
  • Athletics – Semenya accuses IAAF of breach of regulations at CAS hearing
  • Nigeria’s main opposition party accuses Buhari of ‘jungle justice’ threat
  • Kenya’s domestic debt refinancing risks rise as more bonds mature
  • 4 Zimbabwe generals retired in Mnangagwa’s first purge of military
  • Nigerian assets fall as election delay fuels uncertainty
  • Nigeria’s Buhari says reasons for election delay should be investigated after vote
  • Zimbabwe opposition politician fined over election results
  • Kenya shilling edges up against the dollar
  • Nigeria president [holds] emergency meeting with ruling party over election delay
  • Nigeria eurobond yields rise after surprise election delay
  • South Africa’s Bosasa to cease trading as banks close accounts
  • South Africa state airline to be split into three – CEO
  • Uganda shilling steady, investor interest in govt debt to help
  • South Africa’s Bosasa applies for liquidation as banks close accounts
  • South Africa Amplats lost 14,000 platinum ounces during last week’s power cuts
  • South Africa Amplats profit nearly doubles on higher prices, improved operations

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