#Africa #Markets | 1 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia starts new month up on strong Wall St after brutal Oct
  • MSCI Asia-Pacific index up 0.9 pct
  • GBP up on report May sealed Brexit deal on financial services
  • Crude continues to sag after last month’s big slide

Oil Markets

  • Oil prices fall on signs of rising supplies, ebbing confidence on global economy
  • Drop extends hefty losses for Brent, WTI
  • Signs of rising supplies on eve of Iran sanctions
  • Brent crude futures lost 0.3 pct at $74.72 per barrel (0054GMT)
  • US WTI crude futures down 46 cents at $65.01 a barrel

Grains

  • Corn edges higher, rebounds from 5-day low
  • Most active CBOT wheat futures up 0.5 pct at $5.03 per bushel (0044GMT)
  • Most active corn futures up 0.2 pct at $3.64 per bushel
  • Most active soy futures down 0.2 pt at $8.50-1/2 per bushel
  • Most active rice futures down 0.5 pct at $10.51 per hundredweight

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

  • South Africa’s Ramaphosa to speak at Discovery Leadership Summit in Johannesburg

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

  • Too hot to bite: Tsetse flies dwindle as temperatures rise in Zimbabwe
  • Sumitomo lowers nickel output forecast at Ambatovy mine in Madagascar
  • Petrobras to sell stake in JV holding Nigerian oil assets to Vitol-led group for $1.5 bln
  • Libya’s rival assemblies see progress in unifying authorities
  • IMF reaches staff agreement for $2 bln disbursement to Egypt
  • US says American killed in Cameroon was caught in cross fire
  • Eni did not make thorough checks in Nigeria deal – former board member
  • Nigerian Shi’ite group says 42 killed when security forces fired upon protests
  • Forced out of Angola, Congolese migrant workers left with no food or shelter
  • Egypt hosts Arab military exercises in what could develop into an “Arab NATO”
  • Africa Crude – Offers for Nigerian crude stay too pricey for buyers
  • South African stocks follow global rally, rand falls on trade data
  • South African minister should be disciplined for lying, watchdog orders
  • South Sudan rebel leader Machar returns to mark peace deal
  • Kenya lowers domestic power tariffs after consumer complaints
  • South African arms firm Denel eyes turnaround after big loss
  • Libya adds 10,000 bpd by restarting three small eastern fields – NOC
  • Angola expects economy to grow 2.8 pct in 2019 – minister
  • South Sudan’s Kiir says jailed South African adviser, rebel group spokesman to be released
  • Zimbabwe’s RioZim shuts mines over dollar shortages
  • Egypt’s Orascom Investment expects to acquire 30 pct of Sarwa Capital
  • Algeria’s annual inflation falls to 4.7 pct in September
  • Kenyan central bank sells dollars after shilling weakens
  • Kenyan shilling under pressure due to excess liquidity
  • Kenya’s inflation at 5.53 pct y/y in October
  • South Africa’s trade balance swings to deficit in September
  • Kenya’s 2018/19 foreign borrowing to depend on global financial markets
  • South Africa’s Sanlam to sell $583 mln stake to black investors, staff
  • Higher energy revenue cuts Algeria’s Jan-Sept trade deficit – Customs
  • Once a refugee, Somali-American appears headed to US Congress
  • Egypt’s Banque Misr sold 2 pct stake in Saudi Arabia’s Samba – executive
  • World Bank approves $1.2 bln in grants, loans to Ethiopia
  • South Africa’s Implats in talks to sell 1 Shaft operation in Rustenberg

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

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