By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

• Asian stocks fall in volatile session after historic Wall St. plunge
• MSCI Asia-Pacific ex-Japan down 0.5%
• Nikkei down 0.06%, KOSPI off 2.16%
• Australia shares up 2.73%
• Market focus on COVID-19 fiscal response
• Flight to cash; confidence in gold suffers

Oil Markets

• Oil prices jump $1 as sharp falls draw investors, bargain buyers
• Brent up 1.8% at $30.60 a barrel (0410GMT)
• WTI up 3.7% at $29.76

Precious metals

• Gold extends losses from Monday’s meltdown on flight for cash
• Spot gold down 0.2% at $1,511.30/oz. (0039GMT)
• US gold futures up 1.7% at $1,511.50/oz.

Grains

• Soybeans recover from 10-mth low, gains capped by virus worries
• Soybeans rise for first time in 5 sessions, corn ticks up
• Wheat struggles as spreading virus raises economic worries
• Soybeans up 0.8% at $8.28 a bushel (0251GMT)
• Corn up 0.3% at $3.55-3/4 a bushel
• Wheat unchanged at $4.98 a bushel

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]

• Nigeria’s ruling APC top officials meet
• Nigeria inflation Feb-20 [fcst. 12.2% yy, prev. 12.1%]
• South Africa central bank MPC meeting; 17-19 Mar
• Nigeria’s supreme court rules on review application on Zamfara gubernatorial election [Negative; albeit recent precedents positive]

Key African events or data releases yesterday & early a.m today

• More African countries confirm first coronavirus cases as Jack Ma pledges aid
• Tunisia suspends all international flights, closes its land borders
• Egypt reports 2 deaths and 40 new cases of coronavirus to a total of 166 – ministry
• Nigeria to delay non-critical spending, defer eurobond sale – finmin
• Libya’s oil production at 91,108 barrels per day as of March 15
• Mozambique queried $535 mln loan guarantee, VTB says in court filing
• Libya’s state oil firm says jet fuel illegally shipped to east
• Egypt cuts interest rates by 300 bps in face of coronavirus
• Sudan closes airports and borders except for humanitarian and commercial shipments over coronavirus fears
• WHO calls for “change of mindset” to overcome pandemic shortages
• South Africa assets plunge as coronavirus panic worsens
• Africa Oil – Weak demand weighs, Angola programmes due
• AngloGold Ashanti tightens quarantine policy after Ghana worker gets coronavirus
• South Africa cenbank: rates decision announcement scheduled for Thursday
• Sudan declares public health emergency amid fears of coronavirus spread
• Tunisia’s Tunisair to lose $24.6 mln this month, CEO says
• Algeria to suspend travel with Europe and Africa
• Egypt to halt flights from Thursday to stem spread of coronavirus
• Nigeria’s central bank to create fund to fight coronavirus
• Libya’s NOC says jet fuel illegally shipped to east
• World Bank offers $60 mln to Kenya to fight coronavirus outbreak
• Libya’s Tripoli-based govt agrees $27.9 bln budget – source
• Kenya’s Safaricom waives some M-Pesa transfer fees amid virus outbreak
• South Africa’s will have to “shift” spending to tackle coronavirus – finmin
• Nigeria’s central bank to create health fund in coronavirus package – governor
• South Africa’s Taste Holdings to liquidate food business, hitting 770 jobs
• Somali confirms first case of coronavirus – health minister
• Tunisia land border with Libya closed – minister
• Morocco to close all mosques over coronavirus fears – statement
• Tanzania confirms first case of coronavirus – ministry
• OPEC+ calls off technical talks, mediation attempts fail – sources
• Conferences, events cancelled at South Africa’s Sun International over virus fears
• Morocco to close non-essential public places starting today – Interior Ministry
• Zimbabwe shuts down main source of hard currency as local dollar crumbles
• Kenya raids shop selling fake coronavirus kits as Liberia confirms first case
• Uganda shilling weakens due to commercial bank dollar demand
• South Africa consumer confidence sinks to 2-1/2 year low – survey
• Kenya shilling weakens as coronavirus concerns weigh
• South Africa’s Old Mutual wants new CEO within months; shares drop after earnings
• South Africa’s Taste Holdings to liquidate three food businesses
• South Africa’s Sun International reports 91% jump in full-year profit
• South Africa’s Old Mutual reports 7% rise in full-year profit
• Rwanda says number of coronavirus cases rises to five

N.B. Full stories of above headlines are available on Reuters