#Africa #Markets | 23 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares buckle to European woes, Saudi anxieties
  • Asian shares down 1.3 pct, US stock futures shed 0.8 pct
  • World leaders not convinced by Saudi Arabia’s Khashoggi account
  • European stocks hit by worries over Italy’s budget

Oil Markets

  • Oil prices fall as Saudi Arabia pledges to play ‘responsible role’ in market
  • Markets expected to tighten once Iran sanctions kick in
  • US sanctions against Iran to start Nov. 4
  • Rising US oil output to offset Iran
  • Brent crude oil futures down 0.4 pct at $79.52 a barrel (0318GMT)
  • US WTI crude futures down 0.3 pct at $69.16 a barrel

Precious metals

  • Gold nudges up as Asian shares edge lower
  • Spot gold up 0.1 pct at $1,222.53 an ounce (0056GMT)
  • US gold futures up 0.1 pct to $1.225.30 an ounce


  • US soybeans hit 2-wk low as harvest peace exceed forecasts
  • Most active CBOT wheat futures unchanged at $5.08 per bushel (0120GMT)
  • Most active corn futures down 0.1 pct at $3.69-1/4 per bushel
  • Most active soy futures down 0.4 pct at $8.55 per bushel
  • Most active rice futures up 1.6 pct at $11.22 per hundredweight

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

  • Day 2 of UNCTAD World Investment Forum #WIF2018 in Geneva (22-26 Oct); Botswana, Namibia presidents attending

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

  • Morocco looks to privatisation to curb budget deficit in 2019 – minister
  • Biya wins Cameroon election to extend 36-yr rule
  • Africa Crude – Spot trade hampered by slow emergence of export programmes
  • South Africa’s rand, stocks swept up in EM rally
  • South Africa’s latest finance minister walks budget tightrope to fix ailing economy
  • Morocco to deport 141 migrants arrested at Spanish enclave fence
  • Kenyan ARM Cement’s administrator seeks asset sale to cut debt, keep it afloat
  • Zambia revives plan to cull 2,000 hippos over next five years
  • Uganda shilling unchanged as commerical bank, importer demand slumps
  • Kenyan shilling weakens against the dollar
  • Kenya warns against unlicensed online forex trading
  • South African state firm Transnet removes CEO
  • South Africa’s Verimark says majority shareholder intends to delist firm

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.