By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Slowing virus, China stimulus hopes support stocks
- China cuts lending rate to prop virus-hit economy
- Asian stocks advance
- Yen nurses losses after overnight plunge
Oil Markets
- Oil rises on supply worries, while virus-led demand concerns ease
- Brent up 0.8% at $59.57 a barrel (0208GMT)
- WTI up 0.9% at $53.78
Precious metals
- Gold eases from 7-yr peak on slowing virus spread, China stimulus hopes
- Spot gold down 0.2% at $1,607.49/oz. (0100GMT)
- US gold futures unchanged at $1,612.40/oz.
Grains
- Wheat ticks up on global supply worries
- Wheat futures up 0.1% at $5.662 a bushel (0128GMT)
- Soybean futures little changed at $8.97-1/2 a bushel
- Corn futures up 0.2% at $3.78-1/2 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Ghana’s Akufo-Addo 2020 message on the State of the Nation
- South Africa’s Ramaphosa responds to parliament debate of his State of the Nation Address
- Kenya parliament vets new Uhuru cabinet secretary nominees
- Global off-grid solar forum & expo 2020 in Nairobi; 18-20 Feb
- South Africa state capture inquiry continues
Key African events or data releases yesterday & early a.m today
- Libya govt, Haftar’s forces dim hopes of salvaging UN ceasefire talks
- Tunisia names new govt, avoids risk of early election
- Namibia central bank expects economy to grow in 2020 – governor
- South Africa could use mining royalities to set up sovereign fund – minister
- Italian judge puts Nigerian businessman on trial on oil graft case
- Africa Oil – Cargoes clear slowly as Nigerian programmes awaited
- WHO says man with coronavirus in Egypt is recovering, no longer a carrier
- South Africa’s rand firms after CPI data, stocks rise
- ‘Nothing left’: Kenyan mother’s fields stripped by locust swarm
- South Africa – Massmart CEO says not ready to let Game dept chain fail
- Kenya’s Safaricom to consider Huawei as supplier for 5G network
- Zambia central bank keeps key rate flat, cites low growth & deficit risks
- Revolutionary squads guard Sudan’s bakeries to battle corruption
- Libya’s Serraj says talk about resuming peace negotiations has been overtaken by events
- US Pompeo takes veiled swipe at China on final leg of Africa trip
- Somali militants kill 12 soldiers in attack on base, say officials
- Egypt posts GDP growth of 5.6% in 6 months to Dec
- Russia says it, Haftar agree political settlement is only option for Libya
- Absa Bank says Kenya mobile banking app used by almost 5 mln customers
- UN tries to salvage Libya talks after govt announces pullout
- Egypt says foreigner thought to be carrying coronavirus has tested negative for it
- African private equity fund buys Burger King South Africa franchise
- South Africa’s Bidcorp says coronavirus will impact second half
- Kenya shilling under pressure against the dollar
- Uganda shilling flat amid some charity flows
- Sierra Leone gangster leaves streets for life of poetry
- South Africa consumer inflation rises to 4.5% y/y in January
- Rising metals prices spur S.African miner Sibanye to 2nd-half rebound
- South Africa’s Sibanye-Stillwater posts headline loss
- South Africa’s Grand Parade to sell Burger King franchise
N.B. Full stories of above headlines are available on Reuters
