#Africa #Markets | 22 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares pare losses as China rallies on stimulus hope
  • Nikkei falls 1 pct, leads more losses in Asia
  • Market anxious ahead of rush of US earnings
  • Saudi Arabia, Italy, Brexit keeps geopolitics in focus

Oil Markets

  • Oil edges up on looming Iran sanctions, but US-China trade war caps gains
  • Sanctions against Iran oil exports to start Nov. 4
  • US rig count highest since 2015
  • ICE to launch new US crude export futures contract
  • Other producers will struggle to replace Iran shortfall – IEA
  • Brent crude oil futures up 10 cents at $79.88 a barrel (0248GMT)
  • US WTI crude futures up 19 cents at $69.31

Precious metals

  • Gold inches higher as Asian stocks slip
  • Spot gold up 0.1 pct at $1,227.56 an ounce (0039GMT)
  • US gold futures up 0.2 pct at $1,230.60 an ounce

Grains

  • Soybeans fall to near 2-wk low as US exports slow
  • Most active CBOT wheat futures down 0.6 pct at $5.11-1/2 per bushel (0119GMT)
  • Most active corn futures down 0.3 pct at $3.66 per bushel
  • Most active soy futures down 0.1 pct at $8.56 per bushel
  • Most active rice futures unchanged at $11.23 per hundredweight

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

  • Botswana, Namibia presidents in Geneva for UNCTAD World Investment Forum #WIF2018

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

  • Author of critical book on Egypt’s economy arrested: sources, wife
  • Ethiopia signs peace deal with rebels from gas-rich region
  • Nigeria deploys special security force after 55 killed in Kaduna state
  • Nigerian unions threaten to resume strike unless govt acts on minimum wage
  • At least 14 killed in violence in eastern Congo’s ebola zone
  • Comoros places governor of strife-torn Anjouan under house arrest
  • Tunisia’s UGTT union cancels national strike after govt deal
  • Exiled Ethiopian Olympic runner who protested against govt returns home
  • Egypt extends state of emergency for 3 months
  • Hundreds of migrants storm Spanish enclave in North Africa, one dies
  • Egypt’s EGX30 index falls after govt signals delay to IPO programme
  • Return to Egypt revives memories of desert battle for British veterans
  • Tanzania arrests 104 people for plotting “radical camps” in Mozambique
  • Congo’s controversial voting machines start arriving
  • African billionaire returns home unharmed after release by kidnappers – police
  • Tunisia to sell eurobonds worth $1 bln early next week – govt source
  • Egypt commends ‘decisive’ and ‘brave’ actions by Saudi king over Khashoggi case
  • Liberia launches investigation into US charity after rape allegations
  • Ghana’s 91-day bill rises 13.75 pct
  • Court ot hear MTN’s case against Nigeria’s central bank in $8.1 bln transfer row
  • Libya’s Hariga oil port operating normally following protest – workers
  • US official optimistic Congo ebola outbreak can be controlled
  • Africa Crude – Angola’s December cargoes start trading
  • Russia to send more military trainers, equipment to Central African Republic
  • Comoros authorities sign pact to end standoff on island
  • Detained former head of Ethiopian region tried to escape – police
  • Guards on Hong Kong-flagged ship repel pirates off Somalia coast – EU force
  • African bank Oragroup to launch largest ever IPO on Abidjan bourse
  • Acacia Mining looks to force talks on Tanzania dispute
  • Cameroon court rejects all petitions calling for re-run of elections
  • Tanzania police work with Interpol to search for abducted tycoon
  • South African dairy firm Clover says in takeover talks, shares soar
  • Ugandan shilling unchanged; dollar demand slow
  • Kenyan shilling steady, remittances match importer dollar demand
  • Egypt postpones Eastern Tobacco share offering
  • Kenyan ex-sports minister charged over Rio Olympics graft
  • Kenya’s lone ice-hockey team has Olympic-sized dreams
  • Kenya to set up gold refinery to help small miners
  • Cameroon court rejects all petitions calling for re-run of elections
  • Acacia threatens to invoke investment treaty in Tanzania dispute
  • MTN Ghana revenue rises, driven by mobile money service
  • Bank of Kigali prices its cash call at 270 francs per share

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

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