#Africa #Markets | 8 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • China stocks stumble despite central bank liquidity support
  • China blue-chips off 3.6 pct
  • MSCI Asia ex-Japan -0.8 pct
  • Yuan down on weakest fixing since May 2017

Oil Markets

  • Oil drops 1 pct at US considers granting some waivers on Iran crude sanctions
  • Analysts warn of limited capacity
  • Hedge funds cut bullish crude futures positions
  • US oil drilling stalls
  • Brent crude futures down 1.1 pct at $83.25 per barrel (0115GMT)
  • US WTI crude futures down 0.8 pct at $73.77 a barrel

Precious metals

  • Gold dips as dollar firms after China eases policy
  • Spot gold down 0.2 pct at $1,200.31 an ounce (0103GMT)
  • US gold futures down 0.1 pct at $1,204.40 an ounce

Grains

  • Soybean prices hit 6-wk high as rains expected to slow harvesting
  • Most active CBOT wheat futures up 0.7 pct at $5.24-1/2 per bushel (0056GMT)
  • Most active corn futures up 0.2 pct at $3.69 per bushel
  • Most active soy futures up 0.6 pct at $8.74-1/4 per bushel
  • Most active rice futures unchanged at $10.82 per hundredweight

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

  • South Africa’s finmin Nene to give speech at banking summit today; key focus may instead be how much longer he would remain on the job after lying scandal

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

  • Nigerian ex-minister and Chibok girls champion to run for president
  • Libya PM reshuffles ministers to broaden support after Tripoli clashes
  • Polls in Cameroon close after vote marked by seperatist unrest
  • Sudan sets daily exchange rate at 47.5 pounds per dollar in sharp devaluation
  • Nigeria central bank may reduce $8.1 bln MTN repatriation demand
  • Sonatrach to launch offshore drilling with Total, ENI in Algeria next year
  • Prisoner sieze control of part of South Sudan detention centre
  • Nigeria’s central bank will continue to intervene in FX markets – governor
  • Nigeria’s opposition PDP selects Abubakar for 2019 presidential election
  • Three armed seperatists shot dead during Cameroon vote – security source
  • Zambia says open to dialogue with miners over tax increases
  • Prisoners riot at detention centre in South Sudan
  • Congo Republic approves 2019 budget with GDP growth forecast of 3.7 pct
  • Nigeria promotes growth plan to investors on New York roadshow
  • Five new ebola cases confirmed in eastern Congo – health ministry
  • Egytp bans former presidential candidate from travel abroad – agency
  • Mozambique launches initiative to disarm, reintegrate opposition fighters
  • Worried Zimbabweans fill up cars and stockpile goods, bank sees improvement soon
  • UK’s CNM plans to relaucnch Zambia nickel mine next year
  • IMF expects 4 pct growth in Malawi in 2019, economy performing well
  • US first lady Melania Trump wraps up solo African tour in Egypt
  • Fire hits palm plantation in Egypt’s New Valley, 37 hurt – report
  • Zimbabwe puts troubled national airline under administration
  • Rwanda court orders critic of president released on bail
  • Ghana’s 91-day bill edges up to 13.4 pct
  • Ethiopia’s ruling coalition re-elects PM Abiy as chairman
  • Nigeria’s central bank files counter claim in escalating MTN dispute
  • Soccer-FIFA suspends Sierra Leone FA for govt interference
  • Morocco’s CFG Bank expects to return to profit in 2021
  • Nigeria to prosecute those to blame for Sky Bank’s failure – finmin
  • Melania Trump goes on safari in Kenya and visits an orphanage
  • New UN-led fund may make loans as easy as ABC for Africa’s farmers
  • Congolese doctor dedicates Nobel Peace Prize to victims of sexual violence
  • Tears flow as escaped Chibok captive brings news – good and bad
  • Mali expects 2018 industrial gold output to rise 21 pct
  • Egypt signs deal for sale of stake in oil company ENPPI
  • Kenya detains five Chinese nationals found with security equipment
  • Nigeria seeks 15 pct interest from MTN on $8.1 bln moved abroad – court papers
  • Zimbabwe rebases data, boosting GDP numbers by 40 pct
  • South African finance minister says he deeply regrets Gupta meetings
  • Kenya shilling unchanged, draws support from remittances and weak demand
  • Kenya on course to develop nuclear energy , official says
  • Congolese Mukwege, Iraq’s Murad win 2018 Nobel Peace Prize
  • Foreign investment in Egypt falls, austerity plan hurts demand
  • South Africa’s net foreign reserves fall to $42.23 bln in Sept.
  • South Africa train collision injures 320 people

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

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