By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Jump in new coronavirus cases stymies stock rally
- Hubei province reports 14,840 new cases vs 2,015 on Feb. 11
- US stock futures slip, dollar/yen soft
- Nikkei down 0.2% in early trade
Oil Markets
- Oil rises for third day as coronavirus impact may spur output cuts
- Brent up 0.3% at $55.96 per barrel (0217GMT)
- WTI up 0.6% at $51.46
Precious metals
- Gold rises as jump in new virus cases weigh on equities
- Spot gold up 0.4% at $1,571.23/oz. (0056GMT)
- US gold futures up 0.2% at $1,574.90/oz.
Grains
- Soybeans snap 8 sessions of gains as virus deaths jump
- Soybean futures down 0.1% at $8.91-1/2 a bushel (0101GMT)
- Corn futures down 0.2% at $3.82-1/4 a bushel
- Wheat futures unchanged at $5.47-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- South Africa’s Ramaphosa opens parliament, delivers state of the nation address
- Uganda interest rate decision [fcst. 8.0%, prev. 9.0%]
- Botswana’s Masisi visits Namibia
- South Africa mining production Dec-19 [fcst. -2.8% yy, prev. -3.1%]
- Kenya parliament screens new cabinet secretaries
- Guinea’s Conde in Saudi Arabia
- 18th African fine coffees conference & exhibition in Mombasa, Kenya; 12-14 Feb
Key African events or data releases yesterday & early a.m today
- Algeria says BP did not ask to sell Amenas gas stake
- Sudan to raise price of some petrol from mid February – ministry source
- Sudan to continue to subsidise bread but with “justice” – trade minister
- Nigeria LNG signs 10-yr LNG deal with Galp
- Africa Oil – Reduced offers aid sales, Asian buyers quiet
- Head of Sudan ruling council pledges ICC cooperation over Bashir, says right group
- Tunisia eyes IMF talks in March on sixth review of loan deal – minister
- South Africa’s rand falls after dismal data, stocks rise
- OPEC says coronavirus to trim 2020 oil demand, weighs output cut
- Kenya pledges “valley of peace” legacy as veteran leader Moi buried
- Italy’s Edison starts exploratory drilling for gas in Egypt
- AngloGold shifts focus as it sells South African assets to Harmony
- South Africa retail sales down 0.4% y/y in December
- UAE’s Dana Gas receives bids for Egypt assets
- Zambia’s GDP to exceed 3% as copper-producer steps up spending
- Kenya shilling weakens due to importer dollar demand
- South Africa’s Tiger Brands says interim profit could fall 36%
- AngloGold Ashanti to sell South Africa assets to Harmony Gold for $300 mln
N.B. Full stories of above headlines are available on Reuters
