#Africa #Markets | 17 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares ride Wall St bounce, China muted
  • Nikkei up more than 1 pct, but China stocks lag
  • Netflix surges on strong results, lifts FANG sector
  • Dollar mixed as risk sentiment favours emerging markets

Oil Markets

  • Oil prices edge up on surprise drawdown in US crude stockpiles
  • Brent crude futures up 0.4 pct at $81.77 a barrel (0007GMT)
  • US WTI crude futures up 0.5 pct at $72.27 a barrel

Precious metals

  • Gold prices hold steady as investors wait for Fed minutes
  • Spot gold up 0.1 pct at $1,224.70 an ounce (0100GMT)
  • US gold futures down 0.2 pct at $1,228.30 an ounce

Grains

  • Soybean prices extend losses as US harvest pace expected to pick up
  • Most active CBOT wheat futures down 0.1 pct at $5.23 per bushel (0042GMT)
  • Most active corn futures down 0.1 pct at $3.75 per bushel
  • Most active soy futures down 0.1 pct at $8.83-3/4 per bushel
  • Most active rice futures down 0.1 pct at $10.87 per hundredweight

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

  • South Africa retail sales data for Aug-18 due [fcst. -0.7% yy, prev. 1.3%]
  • Zimbabwe electoral violence inquiry to continue public hearings; after launch yesterday

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

  • Soccer-Madagascar seals first ever Nations Cup berth along with Egypt, Tunisia
  • Congo signs deal for $14 bln Inga hydroelectric project
  • Congo condemns Angola for violent crackdown on migrants
  • Moroccos’s BCP bank seals acquisition of Mauritius unit of France’s BPCE
  • Nigerian midwife killed by militants is mourned, Red Cross says it refused to pay ransom
  • Nigeria’s Senate to probe alleged $3.5 bln NNPC fuel subsidy fund
  • ICRC names abducted midwife killed in Nigeria
  • South Africa’s Solidarity union to strike at state-owned defence firm over pay
  • Ethiopia creates ‘Peace Ministry’ to tackle violence in sweeping reshuffle
  • Inquiry report urges South Africa’s Ramaphosa to fire suspended tax head
  • Plate of beans too costly for some as conflict sends food costs rocketing
  • South Africa’s Treasury says recession, falling revenue hurt public finances
  • Cameroon court hears calls for “irregular” election to be anulled
  • South Africa’s rand firms as investors chase riskier assets, stocks up
  • African Crude – Angolan exports to dip; Nigerian weaker
  • At least seven killed in train derailment in Morocco
  • Inquiry into Libyan rebel’s killing threatens to open old wounds
  • Botswana’s bourse threatens to delist Choppies over results delay
  • US military says 60 al Shabaab militants killed in Somalia air strike
  • Zambian power firm CEC divests from telecoms business
  • Parts of troubled Libya get 4G telecoms service
  • New South African finance minister to keep policy direction intact – Moody’s
  • Algeria hopes to have energy law ready by first half of 2019 – Sonatrach CEO
  • Case of slain Libyan rebel commander threatens to open old wounds
  • Zambian mining group says tax changes will hit mineral exploration
  • Kremlin to discuss resumption of flights from Russia to Egypt’s Red Sea resorts
  • Wooing investors, Rwanda hosts first tantalum-tracking blockchain
  • Ethiopian Airlines to resume flights to Mogadishu next month
  • Uganda says landslide death toll rises to 43, begins relocations
  • Moody’s ratings review of South Africa to come after next week’s budget – Treasury
  • Kenyan shilling firm on investor inflows
  • Egypt’s petroleum minister says LNG vessel to leave before weekend
  • Recession, falling revenue dent South Africa’s public finances – Treasury
  • Egypt’s foreign reserves sufficient to cover imports for 9 mths – statement
  • Ethiopia’s PM names Ahmed Shide as new finance minister
  • Egypt says agrees $3 bln financing deal with World Bank
  • South Africa’s Pick n Pay H1 profit jumps 19 pct as price cuts lure buyers

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

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