#Africa #Markets | 11 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares swoon to 19-mth lows; investors await US data
  • Nikkei sheds 4.2 pct, Asia ex-Japan at lowest since March 2017
  • IMF’s Lagarde says market valuations extremely high
  • High bond yields, Sino-US trade tensions weigh
  • Trump calls Fed “crazy” for raising interest rates
  • Yen and euro in demand as safe harbours, dollar mixed

Oil Markets

  • Oil extends losses as other markets fall, stockpiles climb
  • Hurricane Michael spares oil production sites
  • Brent crude futures down 1.6 pct at $81.77 a barrel (0543GMT)
  • US WTI crude futures down 1.5 pct at $72.07

Precious metals

  • Gold prices edge down as strong US data boosts rate rise view
  • Spot gold down 0.2 pct at $1,192.41 an ounce (0105GMT)
  • US gold futures up 0.2 pct at $1,195.70 an ounce

Grains

  • Soybeans slide for third straight session
  • Market eyes USDA report later in the sessin
  • Corn, wheat extend losses
  • Most active CBOT wheat futures down 0.3 pct at $5.09 per bushel (0327GMT)
  • Most active corn futures down 0.1 pct at $3.62-1/4 per bushel
  • Most active soy futures down 0.3 pct at $8.49-1/2 per bushel
  • Most active rice futures down 0.2 pct at $10.92 per hundredweight

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

  • South Africa manufacturing production data for Aug-18 due [fcst. 1.8% yy, prev. 2.9%]
  • South Africa mining production data for Aug-18 expected [fcst. -10.2% yy, prev. -5.2%]
  • Ongoing IMF-World Bank meetings in Bali, Indonesia continue to be in focus

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

  • In bid for healthier cities, Ethiopia aims to boost urban green
  • US asks investigators to probe whereabouts of millions in Liberian cash
  • World Bank criticises Kenya’s approach to cutting fiscal deficit
  • Son of ousted Egyptian president freed on bail – judicial source
  • Soccer-Zambia boost qualifying hopes with long awaited win
  • Ethiopian PM meets with soldiers demanding pay rises – TV
  • IMF and Zimbabwe okay Zimbabwe plan to clear arrears as dollar woes bite
  • South Africa gets $35 bln in investment pledges towards $100 bln goal
  • Egypt says to check hotels at Red Sea resort where British couple died
  • Death toll from Nigeria floods reach 199
  • South Africa should seek damages from KPMG over bank graft – central bank probe
  • Soccer-Sierra Leone’s Nations Cup fate to be decided later
  • On your bike? Africa in a jam as ‘poor man’s transport’ ignored
  • Sudanese and South Sudanes refugee unite on basketball court
  • Al Shabaab attack kills two Kenyan teachers
  • Africa Crude – Higher offers emerge for Nigerian, but meet no buyers
  • Ethiopian PM reaches agreement with soldiers demanding pay rises – TV
  • Buoyant Tunis bourse hopes for state IPOs to draw investors
  • South Africa’s Zulu king, civil rights group to form farming partnerhsip
  • EX-central banker Mboweni takes on South Africa’s hobbling economy
  • Tanzanian rangers harness new technology to fight poachers
  • Libya will reduce fee on FX transactions if rate gap narrows
  • Sarwa Capital IPO on Egyptian stock exchange covered 30 times – traders
  • Angola secures $2 bln in infrastructure financing from China
  • Son of outsted Egyptian president detained – family, sources
  • Fifty killed in Kenya bus crash
  • LMEWEEK – Dollar shortage “short-term problem” for miners in Zimbabwe – minister
  • Egypt’s headline inflation rises to 16 pct in Sept – CAPMAS
  • Ugandan shilling loses ground on uptick in demand
  • South African business confidence index rises in September
  • FEATURE-A waste mountain to climb: Can Africa make plastic recycling pay?
  • Somali’s al Shabaab executes five men accused of spying
  • Workers go on strike at South African social grants agency

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

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