By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Stocks fall as US virus response disappoints investors
- Lack of details about Trump stimulus unsettles markets
- Policymakers struggle to stay ahead of coronavirus
- Oil futures bounce again on output cut hopes
Oil Markets
- Oil rises for 2nd day amid hopes for output cut by US producers
- US producers slash spending, which could reduce output
- Saudi says it will boost oil supplies to record high in April
- US crude stockpiles rose last week – API
- Brent up 3.9% at $38.66 a barrel (0226GMT)
- WTI up 3.3% at $35.48
Precious metals
- Gold gains amid doubts over US stimulus package
- Spot gold up 0.5% at $1,657.29/oz. (0054GMT)
- US gold futures down 0.3% at $1,654.70/oz.
Grains
- Soybeans rise for 2nd day, but hopes of higher inventory cap gains
- Soybean up 0.7% at $8.82 a bushel (0138GMT)
- Corn down 0.1% at $3.77-1/4 a bushel
- Wheat down 0.1% at $5.21-3/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Central Bank of Nigeria roundtable on economy
- South Africa’s Eskom stage 2 loadshedding
- Libya contact group meets in Congo (11-12 Mar); South Africa’s Ramaphosa attending
- South Africa state capture inquiry resumes
- Guinea’s opposition heads to ECOWAS court
- 22nd African forestry & wildlife commission (AFWC) in Kruger Park, South Africa; 9-13 Mar
Key African events or data releases yesterday & early a.m today
- Witchcraft beliefs blamed for halting drive to end FGM in Guinea
- Drought, coronavirus to slow Morocco’s economic growth to near 2% – planning agency chief
- Racked by protests, Algeria bars political gatherings over virus
- Tunisia studies hedging fuel purchases after oil falls sharply
- Families mark first anniversay of Ethiopian 737 MAX crash
- Sudan moves against Bashir loyalists after assassination attempt
- Algeria suspends economic, cultural, political gatherings over coronavirus
- Algeria delays international sports gatherings over coronavirus
- Egypt’s headline inflation slows to 5.3% in February
- Tanzania opposition lawmakers found guilty of making seditious statements
- Algeria faces ‘unprecedented’ multi-dimensional crisis – PM
- Africa Oil – Diffs resist futures plunge as sellers stay confident
- DRC confirms first coronavirus case
- Jordan bars entry from West Bank, Israel, Iraq, Egypt due to coronavirus
- South Africa’s rand rebounds as global selloff slows
- Egypt core inflation drops to 1.9% in February – c.bank
- South Africa – Sibanye, Implats and BASF develop new tri-metal catalyst, boosting platinum prices
- Ivory Coast 2019/20 cocoa grind up 4% by end-February – exporters
- South Africa court sides with Eskom in 2018/19 tariff dispute
- Morocco reports first coronavirus death – health ministry
- Malawi communities scare away loggers with beehives
- South Africa’s Eskom ramps up power cuts after fault at nuclear plant
- Nigeria treasury bill yields rise, naira eases after oil price collapse – traders
- South Africa court clears Ramaphosa of misleading parliament, money laundering alleged by watchdog
- South Africa’s Vodacom to slash mobile data prices after watchdog report
- China’s CNMC to transfer Africa copper, cobalt assets to engineering arm for $1.1 bln
- Russia energy minister does not rule out joint measures with OPEC on oil
- Uganda says 20 killed in raid on army post near DRC border
- Kenya shilling steady on easing dollar demand
- Uganda shilling trades flat amid subdued demand
- South Africa’s FirstRand reports 5% half-year profit rise
- Morocco to suspend all travel to and from Italy amid coronavirus fears
N.B. Full stories of above headlines are available on Reuters
