#Africa #Markets | 25 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks plunge as global growth, US earnings spook investors
  • MSCI ex-Japan down over 18 pct this year, Nikkei at 6-mth lows
  • Wall St suffers worst 1-day fall since 2011
  • Chip stocks hammered amid earnings, economic worries

Oil Markets

  • Oil prices fall one pct amid global stock market slump
  • Brent crude futures down 1 pct at $75.42 per barrel (0043GMT)
  • US WTI crude futures down 0.9 pct at $66.23 a barrel

Precious metals

  • Gold climbs towards 3-mth peak as equity rout sparks safe-haven rush
  • Spot gold up 0.3 pct at $1,237.04 an ounce (0357GMT)
  • US gold futures up 0.7 pct at $1,239.70 an ounce


  • Wheat prices extend losses, linger near 6-wk low
  • Most active CBOT wheat futures down 0.4 pct at $4.97-1/2 per bushel (0021GMT)
  • Most active corn futures down 0.3 pct at $3.67-1/4 per bushel
  • Most active soy futures down 0.1 pct at $8.49-3/4 per bushel
  • Most active rice futures down 0.4 pct at $11.02 per hundredweight

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

  • South Africa Investment Summit today
  • South Africa producer inflation data for Sep-18 due [fcst. 6.1% yy, prev. 6.3%]

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

  • Kenyan central bank sets next rate-setting meeting for Nov. 27
  • South African bonds, rand extend losses after budget
  • Nigeria’s Diamond Bank directors quity, paving way for recapitalisation
  • Sudan says progress on Nile dam timeline with Ethiopia, Egypt
  • Renewed fighting kills at least 10 in Cameroon’s Anglophone region
  • Libya hopes rare Benghazi oil conference will mend rifts
  • Kenya watchdog probes share trades linked to KenolKobil bid
  • West Africa’s ebola outbreak cost $53 bln – study
  • Mali’s first independent power project to start up next week
  • Libya producing up 1.3 mln bpd of oil – NOC
  • Nigeria proposes 8.73 tln naira 2019 draft budget – budget minister
  • Namibia says economy to shrink 0.2 pct this year
  • Africa Crude – Traders await tender results, high freight hampers trade
  • Recession-bound South Africa sees wider budget deficits, low growth; rand dips
  • South Africa’s Long4Life enters healthcare sector with ClaytonCare acquisitions
  • South African finmin says markets will recover after studying budget
  • Budget disappointment knocks South Africa dollar bonds
  • Algerian lawmakers oust parliament speaker, elect youthful replacement
  • Libya hopes rare Benghazi oil conference will mend rifts
  • Egypt aiming for late 2018 or early 2019 for foreign currency bond issue – minister
  • Sudan PM announces ‘strict austerity’ in emergency economic reforms
  • Malawi inflation to average between 9.3 pct and 9.5 pct in 2018 – cbank
  • Ugandan shilling unchanged amid a sell-off by commercial banks
  • Warring parties in South Sudan abducted hundreds of women and girls – UN
  • South Africa CPI flat at 4.9 pct yy in September
  • Airtel Africa raises $1.25 bln from SoftBank, five other investors

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

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