#Africa #Markets | 3 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares turn up, euro rebounds as reports temper Italian debt fears
  • Italy weighs on global stocks; Nikkei off 0.5 pct
  • Oil near 4-year highs, gold firm
  • Trade pact clause seen deterring China deal with Canada, Mexico

Oil Markets

  • Oil firm on Iran sanctions, but rising US supply and strong dollar drag
  • US commercial crude stocks rise by 907,000 barrels – API
  • US crude output to climb to 11.3 mln bpd – Barclays
  • Brent crude oil futures up 9 cents at $84.89 per barrel (0222GMT)
  • US WTI crude futures up 5 cents at $75.28 a barrel

Precious metals

  • Gold prices rise as Italy uncertainty boost safe-haven demand
  • Spot gold up 0.3 pct at $1,206.09 (0126GMT)
  • US gold futures up 0.3 pct at $1,210.10 an ounce

Grains

  • Wheat rallies as worries mount over Russian export limits
  • Most active CBOT wheat futures up 0.2 pct at $5.20-1/2 per bushel (0052GMT)
  • Most active corn futures up 0.1 pct at $3.67-3/4 per bushel
  • Most active soy futures up 0.3 pct at $8.68-1/2 per bushel
  • Most active rice futures up 0.5 pct at $10.32 per hundredweight

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

  • South Africa’s state capture inquiry today promises to be interesting; finmin Nene to testify [Enterprise minister to testify on 10 Oct]
  • 11th congress of Ethiopia’s ruling EPRDF party starts in Hawasa today; 3-5 Oct

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

  • Egypt’s non-oil business activity weakens in Sept – PMI
  • South Africa’s finance minister to give testimony at Gupta inquiry
  • Italy to host Libya conference in Sicily, seeks stabilisation
  • Liberia central bank denies it lost $100 mln
  • Och-Ziff reaches $29 mln shareholder accord over African bribery probes
  • South Africa’s central bank will intervene if FX orderly function threatened
  • Islamic State announces death of senior militant in Egypt’s Sinai
  • Mozambique’s finance minister cuts 2018 GDP forecast to 4.1 pct
  • EU wheat weakens as Russian exporters seek Algeria access
  • Ethiopia ruling coalition congress to test faith in reformist PM
  • South Africa’s rand hit by euro wobble, stocks slip
  • Moroccan widow turns her home into a shelter for cancer patients
  • Africa Crude – Spot trade slows as holiday cuts off China buying
  • Zambia mines to pay mineral royalties in dollars to stabilize kwacha
  • Regulator says South Africa’s Eskom can recover $2.25 bln over four years
  • First lady Melania Trump coos over kids in Ghana on solo Africa trip
  • Most African ivory being smuggled into China despite ban – report
  • More than 70,000 flee ethnic violence in western Ethiopia – local govt
  • South Africa’s Group Five to cut more jobs as losses swell
  • BlackRock: Emerging market assets, especially stocks, set to rise in Q4
  • US to keep supporting French military effort in Mali: Pentagon chief
  • Ugandan shilling a touch stronger on thinning corporate demand
  • StanChart Kenya’s CEO says sluggish credit growth not sustainable
  • Northam Platinum, South Africa’s NUM union sign 3-yr wage deal
  • IMF calls for further Tunisian interest rate rise to curb inflation
  • Japan’s Kansai to help Zambia paint out malaria
  • Libya reopens Tripoli airport again
  • Ivory Coast issues 8-yr 100 bln CFA franc ($178 mln) bond
  • Hilton to double hotels in Africa in next five years – CEO
  • US carries out air strike in Somalia, 9 militants killed – AFRICOM
  • Radisson joins rivals with hotel expansion in Africa
  • Fighting forces Libya to close Tripoli airport again
  • Zambia’s finance minister to meet IMF officials next week
  • South Africa’s Group Five FY loss widens on Ghana contract costs

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

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