#Africa #Markets | 12 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares on edge after 9-day rout, mood shaky as volatility spikes
  • Ex-Japan Asia MSCI up 0.2 pct, Nikkei down 0.5 pct
  • Volatility index hits high since Feb
  • China, US shares among worst performer this week

Oil Markets

  • Oil prices hold ground, but set for 4 pct weekly fall
  • Brent crude futures up 13 cents at $80.39 a barrel (0042GMT)
  • US WTI crude futures up 11 cents at $71.08 a barrel

Precious metals

  • Gold near highest in over 2 mths as equity plunge boosts safe-haven appeal
  • Spot gold down 0.2 pct at $1,221.06 an ounce (0055GMT)
  • US gold futures down 0.3 pct at $1,224.50 an ounce

Grains

  • Corn edges higher as USDA pegs production below forecast
  • Most active CBOT wheat futures up 0.4 pct at $5.10-1/4 per bushel (0039GMT)
  • Most active corn futures up 0.1 pct at $3.69-3/4 per bushel
  • Most active soy futures up 0.3 pct at $8.60-3/4 per bushel
  • Most active rice futures unchanged at $10.69 per hundredweight

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

  • World Bank SSA state of the region today/tomorrow 9pm ET/1am GMT
  • IMF/World Bank meetings continue in Bali, Indonesia

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

  • Ex-Nigerian president Obasanjo backs former deputy for 2019 election
  • Spike in ebola cases pushes Congo outbreak to ‘tipping point’ – aid workers
  • Zimbabwe stock market hits record high as investors seek a safe haven
  • Sierra Leone axes plan to build Chinese-funded airport
  • Africa Crude – Nigerian diffs drift, Vitol offers Qua in Rotterdam
  • Egyptian military court sentences 17 to death over church bombings
  • WHO sees Congo’s ebola outbreak lasting 3-4 months at least
  • South African rand buoyed by US inflation miss, stocks fall to 15-mth low
  • South Africa’s radical left-wing party denies receiving corrupt funds
  • Egypt’s stock exchange reduces trading halt times to 10 minutes
  • Zambia, Uganda currencies seen falling, Ghana’s firm; in week ahead
  • OPEC says oil market well supplied, wary of 2019 surplus
  • Acacia Mining says employee in Tanzania charged with corruption
  • South African insurer Sanlam seals $1 billion deal for Morocco’s SAHAM
  • Aid agencies eye solar power to replace volatile, costly fuel
  • Uganda’s SafeBoda ride-hailing services hopes to expand across Africa
  • Seacrest-backed oil, gas unit Azinam abandons Namibia offshore well
  • South Africa’s manufacturing output up 1.3 pct
  • Evicted Kenyans demand compensation after mining firm exits
  • Angola could partially list oil company Sonangol
  • South Africa confirms Saudi interest in state arms firm
  • Shell sees Nigeria corruption trial lasting many months – memo
  • Ugandan shilling little changed ahead of tax payments
  • Egypt central bank signs $3.8 bln finance accord with international banks
  • Tanzanian businessman abducted by unidentified men – official

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

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