#Africa #Markets | 31 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks rise at end of grim Oct, on track for worst month since 2011
  • MSCI Asia-Pacific index up 1 pct, Nikkei rises 2.2 pct
  • BoJ keeps rates unchanged as expected
  • Dollar index rises to 16-mth high after upbeat US data

Oil Markets

  • Oil prices rise for first time in three days, but trade war drags
  • Oil benchmarks set for worst monthly performance since mid-2016
  • Sino-US trade war clouds outlook for oil demand
  • Sanctions on Iran’s crude exports start on Nov. 4
  • Brent crude futures up 0.6 pct at $76.38 a barrel (0441GMT)
  • US WTI crude futures up 0.2 pct at $66.34 a barrel

Grains

  • Corn hits 5-day low on advance harvest pressure
  • Most active CBOT wheat futures down 0.3 pct at $4.89-1/2 per bushel (0342GMT)
  • Most active corn futures down 0.1 pct at $3.64-1/4 per bushel
  • Most active soy futures up 0.1 pct at $8.34 per bushel
  • Most active rice futures unchanged at $10.44 per hundredweight

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

  • 18th international economic forum on Africa in Paris today
  • South Africa trade data expected today

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

  • South Sudan rebel leader Machar returns to capital to mark peace deal, first time in 2016
  • South African rand under pressure
  • South Africa’s Implats in talks to sell 1 shaft operations in Rustenberg
  • South Africa’s Implats output rises 8.2 pct
  • South Africa’s Sanlam plans up to $588 mln stake sale to black investors, employees
  • Feature – Irrigation-short Africa may get $9 billion boost to spur harvests
  • Libya restarts eastern al-Bayda oilfield – engineer
  • US Baptist missionary from Indiana killed in Cameroon – family
  • Soccer-Former Ghana FA president Nyantakyi banned for life by FIFA
  • Merkel looks to Africa to cement a legacy shaped by immigration
  • Egypt pollution plan signals the last straw cloud
  • EU to renew sanctions on Congolese officals including presidential candidate, diplomats say
  • Africa Crude – High freight rates weigh on Asian demand
  • Nigeria police fire on Shi’ite march, kill protester – group
  • Randgold Resources’ Mali gold mining complex ramps up production
  • Libya state oil firm demands pay increases for oil workers
  • African migrants rebuild Casablanca camp destroyed by fire
  • Tunisia’s most prominent street back to normal a day after suicide bombing
  • South Africa’s central bank starts winding up graft-hit VBS bank
  • Seychelles raises $15 mln with world’s first blue bond
  • Kenyan shilling steady, forecast to ease due to excess liquidity, importer demand
  • Egypt court frees author of critical book on Egypt’s economy
  • Feature – Zimbabwe’s farmers feel the heat of fires – and of price hikes
  • Ugandan shilling steady, charity inflows to offer support
  • South Africa’s unemployment rate rises to 27.5 pct in Q3
  • Nigerian court adjourns case between MTN, central bank to Dec 4

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

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