By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia shares try to stabilise, pin hopes on policy stimulus
- S&P 500 futures rally 2.4%, Treasury yields up sharply
- Asia shares edge higher, Nikkei pares early losses
- Oil prices bounce after huge drop
- Markets cling to hope of monetary, fiscal stimulus
Oil Markets
- Oil prices jump 6% after biggest 1-day fall since 1991
- Saudi says it will lift output in fight for market share
- Russia says it can withstand low oil price for 6-10 yrs
- Oil unlikely to quickly regain 25% losses – analysts
- Brent up 6.7% at $36.67 a barrel (0115GMT)
- WTI up 5.8% at $32.92
Precious metals
- Gold falls 1% as US economic stimulus hopes lift dollar
- Spot gold down 1% at $1,662.75/oz. (0100GMT)
- US gold futures down 0.7% at $1,664.60/oz.
Grains (9 Mar)
- Soy, corn follow as global markets slump; wheat turns higher
- Soybeans settles down 2.4% at $8.70 per bushel
- Corn ends down 0.9% at $3.72-3/4 a bushel
- Wheat settles up 0.6% at $5.18-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Central African Republic’s Touadere visits South Africa
- South Africa’s Eskom power cuts continue
- Next Einstein Forum in Nairobi (10 Mar); Kenyatta, Kagame & Masisi expected
- South Africa’s Ramaphosa v Public Protector CR17 report case ruling
- Uganda-Europe business forum in Kampala; 9-10 Mar
- 22nd African forestry & wildlife commission (AFWC) in Kruger Park, South Africa; 9-13 Mar
- Nigeria’s university lecturers begin strike
Key African events or data releases yesterday & early a.m today
- Morocco to suspend all travel to and from Italy amid coronavirus fears
- Blackwater founder Prince’s company enteres Congo insurance industry
- Tunisia suspends Italy flights
- Burkina Faso confirms first cases of coronavirus
- At least 43 killed in attack on Burkina Faso villages
- Libya’s oil production falls to 114,331 bpd – NOC Facebook
- Ethiopia Airlines crash report focuses on Boeing’s faulty systems
- Nigeria to scale down budget in face of oil price crash
- Egypt steps up coronavirus checks after outbreak in Luxor
- Libya’s Haftar committed to signing ceasefire – French presidency
- Sudan’s PM survives assasination attempt in Khartoum
- Sudan’s security council condemns assassination attempt on PM
- Algerians say oil price crash shows need for reform
- Africa Oil – Some offers lowered after OPEC deal collapse
- Mali militants say they are open to talks if foreign troops leave
- South African Airways to begin talks on job cuts – rescue team
- OPEC countries lose $500 mln a day in oil price crash
- OPEC & non-OPEC states might need to reconsider supply cuts – Nigerian minister
- Family honours dream of son lost in Ethiopia plane crash
- South Africa’s Eskom to extend power cuts to Tuesday
- Sasol leads South African stocks to 4-yr low as oil crash hits global markets
- Libya oil & gas revenue was $275 mln in January and February – CBL
- Algeria suspends flights to Milan
- Indian automaker Mahindra starts assembling vehicles in Kenya
- Algeria says ‘rapid decision’ needed to balance oil market
- Ethiopia says faulty sensor reading preceded Boeing crash in 2019
- 86 dolphins found dead on remote Namibia beach, probe launched
- EU unveils green Africa policy, seeks new start after migrant crisis
- Ivory Coast 2019/20 cocoa grind up 3.8% by end January – exporter stats
- Uganda shilling trades weaker on demand by banks, importers
- Sudan’s information minister: “terror attempts” to be dealt with decisively
- PM says attempted assassination will not stop ‘path of change’ in Sudan
- Nigeria has second confirmed coronavirus case – health minister
- Kenya central bank to raise 50 bln shillings with 20-, 25-yr bonds
- South Africa’s Eskom dollar bonds fall on power cut resumption
- Kenya shilling weakens against dollar
- ‘Follow the water’: Worsening drought dries up housing for rural Namibians
N.B. Full stories of above headlines are available on Reuters
