#Africa #Markets | 1 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Canadian dollar up on NAFTA agreement, Nikkei hits 27-year high
  • Canadian dollar, Mexico peso up after US, Canada agree on NAFTA
  • Nikkei up 0.6 pct, S&P 500 mini futures up 0.5 pct
  • Asian shares soft, trading seen slow with China on holiday
  • Caixin/Markit China manufacturing PMI hits lowest since May 2017
  • European shares are seen rising up to 0.4 pct

Oil Markets

  • Brent oil near 4-year high (at above $83) ahead of Iran sanctions, but demand concerns loom
  • Stagnant US rig count supports US crude prices
  • High prices, trade disputes threaten demand growth
  • Brent crude oil futures up 0.4 pct at $83.04 per barrel (0057GMT)
  • US WTI crude futures up 0.3 pct at $73.48 a barrel

Precious metals

  • Gold slips as dollar firms on Fed rate hike outlook
  • Spot gold down 0.2 pct at $1,189.22 (0111GMT)
  • US gold futures down 0.3 pct at $1,193.0 an ounce

Grains

  • Soybean prices struggle with large US inventories, bumper crop outlook
  • Most active CBOT wheat futures up 0.3 pct at $5.10-3/4 per bushel (0131GMT)
  • Most active corn futures up 0.1 pct at $3.56-3/4 per bushel
  • Most active soy futures nearly unchanged at $8.45-1/4 per bushel
  • Most active rice futures up 0.7 pct at $9.85 per hundredweight

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

  • Nigeria independence day today; markets closed
  • Final day of United Nations General Assembly debate; African heads of state scheduled to speak are for Algeria, Eritrea, Sao Tome and Principe, Senegal, Niger, Congo, Somalia and Burkina Faso
  • South Africa consumer confidence data for Q2 2018 expected [prev. 22]
  • South Africa ABSA manufacturing PMI for September expected [prev. 43.4]
  • South Africa new vehicle sales for September expected [prev. 47.96K]

Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Egyptian court orders retrial of Muslim Brotherhood leader
  • Egypt’s M2 money supply up 17.02 pct in August – c.bank
  • Soccer – Malawian Nyamilandu elected to FIFA Council
  • Soccer – Africa to support Infantino bid for FIFA re-election
  • Sudan to print 100-pound banknotes to ease liquidity crunch
  • Nigeria ruling party nominates Buhari for re-election in 2019
  • Congo’s opposition leaders warn of vote-rigging risk in presidential poll
  • Higher energy exports help cut Algeria’s Jan-Aug trade deficit
  • Morocco’s BMCE Bank posts 12.7 pct fall in first-half net profit
  • Egyptian court sentences activist to jail for ‘false news’ over sexual harassment video
  • South African arms firm fails to pay senior staff in reform setback
  • Soccer – Decision on Cameroon hosting next Nations Cup is delayed
  • Nigerian women’s minister submits resignation – letter to president
  • Shippers cut Ghana cocoa export freight by 9.4 pct – Body
  • Randgold faces pushback from Congo over Barrick takeover of Kibali mine
  • Nigerian oil unions aim to resolve dispute with Chevron in two weeks – union official
  • Barrick eyes China money to lower Africa risk after Randgold deal – sources
  • Kenyan workers say they warned Unilever before attacks in post-2007 vote violence
  • Ghana’s 91-day bill rises to 13.4 pct
  • UN experts says Egypt systematically targets rights activists
  • Zambia hikes mining taxes in 2019 budget to rein in debt
  • Zambia sees 4 pct growth, lower deficit in 2019 budget
  • Congo mines minister backs state miner over Barrick’s Kibali takeover
  • South Africa’s rand, stocks fall on euro woes
  • Egypt’s Sarwa Capital sets maximum share price of 8.5 EGP ahead of IPO – sources
  • Stigma, poverty leave ‘cursed’ disabled children neglected in Kenya’s orphanages
  • Vodacom Tanzania says incoming CEO denied work permit
  • African Crude – Nigerian overhang weighs, Angolan sales stutter
  • Nigerian military pilot dies after air display rehearsal accident
  • South Africa’s trade balance swings to 8.79 bln rand surplus in August
  • Data overhaul shows Ghana’s economy 24.6 pct bigger in 2017
  • South Africa’s land reforms to include tribal territories – ANC official
  • Emerging bonds back in favour with $1.5 bln weekly inflow – BAML
  • Uganda shilling expected to weaken as importer demand weighs
  • Nigerian military planes in accident during air display rehearsal
  • Ethiopia charges five with terrorism over grenade attack at PM’s rally
  • Liberia court orders more than 30 ex-cbank officials arrested over missing cash
  • Kenya GDP growth at 6.3 pct y/y in Q2 2018
  • New fuel tax pushes Kenya inflation to highest in 11 months
  • South African investors back Steinhoff class action lawsuit
  • Burundi suspends some NGOs for violating new law
  • South Africa’s 3-mth t-bill average yield unchanged at 7.25 pct
  • Botswana’s economy rebounds in second quarter of 2018
  • Kenyan shilling steady, importer demand slow
  • Investors back litigation against South Africa’s Steinhoff in Dutch court
  • Nigeria’s ruling party narrowly wins governor vote in key region
  • Egypt receives final $500 mln tranche of African Development Bank loan
  • Kenya’s inflation jumps to 5.7 pct in September
  • Back home, Cameroon migrants grapple with Libya trauma, prison debt

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.