#Africa #Markets | 10 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares subdued as global bond sell-off eases; sterling rises
  • Long-dated treasury yields scale back from multi-year highs
  • Wall Street stock indexes mixed
  • Uncertainty continues to prevail in Asian markets
  • Sterling strengthens on hopes for Brexit deal
  • Trump criticizes pace of Fed’s rate hikes

Oil Markets

  • Oil dips as IMF lowers global growth outlook; eyes on US hurricane
  • Brent crude futures down 2 cents at $84.98 per barrel (0049GMT)
  • US WTI crude futures down 0.2 pct at $74.8 a barrel

Precious metals

  • Gold inches up as retreat of bond yields weigh on dollar
  • Spot gold up 0.2 pct at $1,191.03 an ounce (0108GMT)
  • US gold futures up 0.3 pct at $1,194.50 an ounce

Grains

  • Wheat extends gains as heavy rains raise fears of localised flooding
  • Most active CBOT wheat futures up 0.4 pct at $5.17-1/4 per bushel (0043GMT)
  • Most active corn futures up 0.1 pct at $3.64-3/4 per bushel
  • Most active soy futures down 0.1 pct at $8.62-1/2 per bushel
  • Most active rice futures down 0.2 pct at $10.93 per hundredweight

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

  • South Africa’s state capture inquiry today to feature enterprise minister Pravin Gordhan; expect fireworks
  • Africa-Turkey economic and business forum today in Istanbul; 10-11 Oct
  • EU observer mission to present report on Zimbabwe polls today

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

  • Workers go on strike at South African social grants agency
  • New Libyan dinar rate not fixed – senior official
  • EgyptAir magazine apologises over odd Drew Barrymore article
  • Soccer-FIFA ban leads to cancellation of Sierra Leone’s match against Ghana
  • Zimbabwe issues threats after price increases, bans protests over new tax
  • Egypt’s first smartphone maker plans expansion in Africa
  • African women with albinism vow to fight on after kilimanjaro climb
  • South Africa’s rand, banking stocks rally as Mboweni named finance minister
  • Chibok girls activist aims to end Nigeria’s political duopoly
  • Former South African central bank governor Mboweni takes over as finance minister
  • Africa Crude – Asian and Turkish tenders keep spot trade muted
  • Sudanese pound slips on black market after devaluation
  • Nigeria’s Buhari asks lawmakers to approve $2.79 bln eurobond – letter
  • Zimbabwe police ban protests against new tax, citing cholera
  • US carries out air strike in Somalia, 1 militant killed – AFRICOM
  • Angola’s net reserves slide to $11.95 bln in Sept.
  • Deliberate train fires cost South African rail service $42.5 mln
  • Pope to visit Madagascar next year, cardinal says
  • South Africa’s Zulu king, Afrikaans nationalist to form farming partnership
  • South African state arms firm proposes severance packages, salary cuts – union
  • Iran is new transit point for Somali charcoal in illicit trade taxed by militants – UN report
  • Telkom Kenya holds talks over two submarine cable landing deals
  • Nigeria’s cenbank head to meet MTN and banks over $8.1 bln repatriation row
  • EFG Hermes looks to Saudi business, Nigeria for expansion
  • Kenyan shilling trading in narrow range against dollar
  • Zimbabwe miner RioZim to sue central bank over dollar payments
  • EFG Hermes still in talks to buy Nigerian brokerage, chases IPOs – Fahmi

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

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