#Africa #Markets | 9 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks at 17-mth low as China lets yuan slip
  • Nikkei skids, China stocks struggle to bounce
  • Beijing allows yuan to slip past 6.90 per dollar
  • Yen up on safety bid as risk appetite sours
  • Euro burdened by Italy budget fight, dollar supported by yields

Oil Markets

  • Oil pirces steady after Iranian exports fall further
  • Brent crude futures down 7 cents at $83.84 a barrel (0020GMT)
  • US WTI crude futures down 1 cent at $74.28 a barrel

Precious metals

  • Gold inches higher on safe-haven demand amid China worries
  • Spot gold up 0.1 pct at $1,189.23 an ounce (0102GMT)
  • US gold futures up 0.3 pct at $1,192.70 an ounce

Grains

  • Wheat extends losses into second session, hits 1-wk low
  • Most active CBOT wheat futures down 0.4 pct at $5.12 per bushel (0053GMT)
  • Most active corn futures down 0.1 pct at $3.66 per bushel
  • Most active soy futures down 0.2 pct at $8.68-1/4 per bushel
  • Most active rice futures unchanged at $10.88 per hundredweight

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

  • Nigerian legislature to resume today; potentially rowdy session as roll would likely be called to determine which party has the majority

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

  • Nigeria, Singapore and India fuel wealth gap – Oxfam
  • Cameroon candidate Kamto declares victory, ruling party denies
  • Mozambique signs oil exploration agreements with Exxon, Rosneft
  • East Libyan forces arrest major militant suspect wanted by Egypt
  • African Crude – Nigerian cargoes struggle; Angolan gets snapped up
  • Eni to acquire half of BP’s Libya oil and gas assets
  • South Africa’s Woolworths to trial plastic bag free store
  • South Africa’s rand slides over finmin crisis, stocks hit 6-mth lows
  • Egyptian military kills 52 militants in Sinai – statement
  • Fear and prestige pushing Kenyan girls into FGM – and out of school
  • Strike halts some Toyota operations in South Africa
  • Zimbabwe president says new tax necessary pain for recovery
  • Lazard report on Eskom asset sale options due within days – Eskom chairman
  • South Africa’s Eskom won’t need more govt cash over next year – minister
  • Tharisa to set more mining output records, looks to Zimbabwe
  • South African president’s office says “not aware” of Nene request to be sacked
  • Uganda shilling weakens as interbank players cover short positions
  • Zimbabwean widows punished by tribal courts for selling gold-rich land
  • Egypt net foreign reserves up to $44.459 bln end Sept – cenbank
  • Zulu king wants South Africa land reform to exclude his territories
  • Egypt’s Hassanb Allam plans to list shares in Cairo, London
  • Trafigura to invest in Congo artisanal cobalt mine

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

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