By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks inch higher as new coronavirus cases fall
- Equities cautiously higher in Asia
- Investors trying to measure spread of coronavirus
- Oil prices extend rebound from 13-mth lows
Oil Markets
- Oil prices rise as new virus cases slow, easing Chinese demand concerns
- Brent up 1.3% at $54.75 a barrel (0137GMT)
- WTI up 0.9% at $50.39
Precious metals
- Gold flat as risk sentiment improves on slowing virus threat
- Spot gold flat at $1,567.62/oz. (0051GMT)
- US gold futures up 0.1% at $1,570.90/oz.
Grains
- Wheat falls to lowest since December on USDA stockpiles forecast
- Wheat futures down 0.3% at $5.40-1/2 a bushel (0154GMT)
- Soybean futures up 0.1% at $8.85-1/2 a bushel
- Corn futures down 0.1% at $3.79-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa retail sales Dec-19 [fcst. 1.8% yy, prev. 2.6%]
- South Africa state capture inquiry continues
- 3rd Nigeria international petroleum summit in Abuja; 9-12 Feb
Key African events or data releases yesterday & early a.m today
- Nigeria considers eurobond issue, president to seek approval
- Artillery shells rain on centre of Libyan capital
- Rhinos in Kenya face a new threat: drug-resistant bacteria – study
- Nigerian central bank injects $210 mln into currency market
- Algeria’s public debt rises to 45% of GDP, economy “delicate” – PM
- South Africa’s MTN flags 2019 profit jump of up to 50%
- Africa Oil – Trading slow despite declining freight rates
- Sudan’s Bashir may face war crimes reckoning
- South Africa’s rand climbs, stocks recover in global return to risk
- Doctors in Egypt launch anti-genital cutting campaign after girl dies
- Sudan agrees ex-president Bashir should appear before ICC over Darfur
- South Africa’s competition watchdog approves $1.7 bln Pioneer-Pepsico merger
- Egypt talking to IMF about technical assistance – central bank
- Sudan ex-leader Bashir refuses to deal with ICC – lawyer
- Total chief dismisses Tullow Oil takeover idea
- Uganda says Chinese firm applies to build $1.4 bln power plant on the Nile
- Morocco threatens to close down Turkish retailer amid trade talks
- Fuel shortages put squeeze on Sudan’s transitional govt
- Sudan & Darfur groups agree appearance of people wanted by ICC before the court – minister
- South African union file court application over SAA job cuts
- [Terrorist group] claims Algeria border attack
- Egypt population reaches 100 mln people – statistics agency
- Thousands bid farewell to Kenya’s veteran leader Moi
- Uganda to borrow $118 mln from China to build roads key to oil production
- Founder of South African group Ladysmith Black Mambazo dies
- South Africa’s manufacturing output drops 5.9% y/y in December
- Egypt’s net govt debt issues increase 12% in first half of 2019-20
- Novak to discuss OPEC+ deal with Russian oil companies on Wednesday – TASS
- South Africa – Harmony Gold’s rebounding profits give hunt for acquisitions fresh impetus
- South Africa Q4 unemployment rate unchanged at 29.1%
- Egypt’s power subsidy falls to zero in second half of 2019
- Nigeria secures $1 mln US grant to plan for gas-fired power plant
- Burundi central bank bans foreign exchange bureaus for flouting official rates
- World Bank chief: some development banks worsening poor country debt burdens
- African Union delays plan to start using fund for security operations
N.B. Full stories of above headlines are available on Reuters
