#Africa #Markets | 16 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks edge up but Saudi tensions limit gains
  • MSCI Asia-Pacific index up 0.25 pct, Nikkei climbs 0.6 pct
  • Saudi-West tensions limit stock gains, prop up oil prices
  • Yen, Swiss franc and gold supported by recent risk aversion

Oil Markets

  • Oil prices rise on signs of falling Iranian oil exports
  • Iran exports avg 1.33 mln bpd of crude in first 2 weeks of Oct
  • Trump sends Pompeo to Saudi Arabia over missing Saudi journalist
  • US crude inventory likely to increase – Reuters poll
  • Brent crude futures up 0.1 pct at $80.87 per barrel (0032GMT)
  • US WTI crude futures up 5 cents at $71.83 a barrel

Grains

  • Soybean prices ease after 3-day rally, wheat at 2-wk high
  • Most active CBOT soy futures down 0.4 pct at $8.88-1/4 per bushel (0148GMT)
  • Most active wheat futures up 0.1 pct at $5.25-1/4 per bushel
  • Most active corn futures down 0.4 pct at $3.76-3/4 per bushel

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

  • South Africa’s EFF presser on VBS Mutual Bank scandal today
  • Nigeria inflation data for September expected [fcst. 11.5% yy, prev. 11.2%]
  • Ethiopia’s Abiy Ahmed expected to reshuffle his cabinet today
  • Ghana’s NDC pre-election debate for aspiring national officers today

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

  • WHO to meet on Congo’s ebola outbreak as toll soars
  • Congo confirms 33 ebola cases in past week, of whom 24 died
  • Aid worker killed in Nigeria after Islamists’ deadline expires – govt
  • South Africa’s Eskom avoids power cuts
  • Zimbabwe vice president in South Africa for treatment – Herald
  • Kanye gives Uganda leader sneakers, gets African name
  • Death toll reaches 60 in Nigeria oil pipeline fire
  • Family of abducted Tanzania tycoon offer reward for information
  • Africa Crude – Traders await loading programmes
  • Germany deports associate of Sept. 11 hijackers to Morocco
  • Anglo Asian’s Azerbaijan gold output rises 47 pct in Q3
  • South African rand rallies on Moody’s, stocks track Asia lower
  • South Africa’s power utility Eskom warns of load-shedding
  • South Africa’s Ramaphosa rejects report that he failed to stop looting at VBS Bank
  • Fuel depot fire at Nairobi airport put out; no damage reported
  • Hi-tech peer-to-peer networks let Nigerian farmers log on for cash
  • Egypt has four months strategic wheat reserves – minister
  • Egypt’s Sarwa Capital falls 15 pct on market debut
  • Thousands strike in South Africa’s plastics sector
  • Tunisia will not impose new taxes in 2019 – draft budget
  • A year after Somalia deadliest attack, fireball still torments survivors
  • Kenyan shilling steady, seen trading in narrow range
  • Uganda shilling a notch firmer ahead of mid-months payments
  • Google launches Motorbke Mode navigation in Kenya, first for Africa
  • Egypt talking to banks about hedging for commodities
  • Crowdfunded solar panels aim to supercharge business in Africa
  • South Africa’s Nedbank to buy back shares from minority shareholders
  • Steinhoff asks creditors for restructuring extension
  • Kenya’s Safaricom loses 1.6 pct users’ market share in Q2
  • Japan’s Tohoku Electric to buy Mozambique LNG

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

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