#Africa #Markets | 2 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks slip as NAFTA lift fades; oil near 4-yr highs
  • MSCI Asia-Pacific index falls 1 pct, Nikkei flat
  • Canadian dollar stands near 4-mth high, euro sags on Italy woes
  • Crude oil prices elevated near 4-yr peaks

Oil Markets

  • Oil near 4-yr high as Washington’s Iran sanctions loom on Nov. 4
  • OPEC seen to have little spare capacity to fill Iran loss
  • Iran’s oil exports are falling
  • Canada/US NAFTA deal lifts market sentiment
  • Brent crude futures up 5 cents at $85.03 per barrel (0439GMT)
  • US WTI crude futures up 24 cents at $75.54 a barrel

Precious metals

  • Gold edges up, but NAFTA deal weighs
  • Spot gold up 0.3 pct at $1,190.81 per ounce (0121GMT)
  • US gold futures up 0.3 pct at $1,195 an ounce


  • Soybeans edge lower, but near 6-wk high
  • Most active CBOT wheat futures up 0.4 pct at $5.11-3/4 per bushel (0054GMT)
  • Most active corn futures down 0.4 pct at $3.64-1/4 per bushel
  • Most active soy futures down 0.2 pct at $8.55-3/4 per bushel
  • Most active rice futures up 0.3 pct at $10.16 per hundredweight

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

  • First lady Melania Trump departs on four-country trip to Africa
  • Egypt and Algeria want less spending on subsidies
  • Sierra Leone military truck flips over, killing 13
  • Spanish tuna vessel arrested for shark fishing off Gabon
  • South African sugar makes rare appearance in small ICE October expiry
  • UN invites Western Sahara parties to new talks in December
  • Ivory Coast cocoa farmgate price up in new season, Ghana’s flat
  • Zimbabwe sees faster GDP growth but budget deficit could hobble economy
  • African Crude – Chinese buying feeds demand for Angolan grades
  • At least 10 die after grenade thrown in night club in South Sudan – police
  • Armed with award-winning app, Kenyan tribe fights forced evictions
  • South African state pension fund’s assets grow 8.6 pct
  • Zimbabwe economic reform plan to push GDP growth to 5 pct – cenbank
  • Namibia president wants land expropriated to boost black ownership
  • Nigeria’s Buhari promises 2019 elections will be fair after regional vote criticised
  • Three die after Somalia car bomb strikes EU convoy – police
  • Egypt sells 904 mln Egyptian pounds of T-bonds after cancelled auctions
  • Hague court hears Ivory Coast ex-president Gbagbo’s plea for dismissal
  • Zambia to introduce sales tax next year to boost revenues
  • South Africa looks to kickstart its biofuels industry
  • Ugandan shilling trades steady amid flat appetite for hard currency
  • Marriott International to increase its Africa hotels by 50 pct by 2023
  • South Africa’s ABSA PMI remains in contraction in September
  • Kenyan shilling steady against the dollar

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

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