#Africa #Markets | 2 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Shares rally, dollar eases as Trump report fans US-China trade deal hopes
  • MSCI Asia ex-Japan up 2.5 pct, US stock futures up 0.5 pct
  • Trump said to have asked to prepare trade deal draft
  • China shares rally on easing trade tensions, govt support
  • Dollar under pressure as risk-sensitive currencies gain
  • European shares seen rising 1.0 pct

Oil Markets

  • Oil seesaws on reported Iran sanction waivers, hopes US-China trade spat can be resolved
  • Prices also weighed down by surge in supply
  • US sanctions against Iran oil exports start next week
  • But serveral countries reported to be receiving waivers
  • Brent crude futures down 1 cent at $72.88 a barrel (0737GMT)
  • US WTI crude futures down 33 cents at $63.36 a barrel

Precious metals

  • Gold steady; investors eye US non-farm payroll data
  • Holdings in SPDR Gold Trust rise
  • Platinum hits fresh high since June 27
  • Spot gold flat at $1,232.81 an ounce (0702GMT)
  • US gold futures down 0.3 pct at $1,235.1 per ounce

Grains

  • Soybeans set for biggest weekly gain in 16 mths on US-China trade hopes
  • Soybeans up for 4th session, poised for strong weekly gain
  • Signs of easing US-China trade tensions underpin prices
  • Chinay soymeal futures down 5 pct after Trump-Xi phone call
  • Wheat eyes weekly rise after 3 weeks of losses
  • Most active CBOT soybean futures up 0.7 pct at $8.89 a bushel (0543GMT), up more than 5 pct for the week
  • Wheat up 0.2 pct for the week, corn down 0.4 pct

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

  • Australia’s Invictus says it has not found oil and gas deposits in Zimbabwe
  • Kenya’s Safaricom first-half revenue jumps nearly 8 pct
  • South African rand, bonds firmer as risk appetite improves
  • Rain or shine, grain banks help Kenyan farmers beat trade cartels
  • Human rights in Morocco deteriorate in 2017-18 – rights group
  • African crude – Spot thin as traders wait for Pertamina results
  • Ivorian cocoa exporters struggle to get finance after SAF-Cacao failure
  • Egyptian authorities detain daughter of senior Muslim Brotherhood leader
  • Morocco imposes online entry permit rule for African travellers
  • South Africa’s Ramaphosa fires suspended tax boss Moyane
  • Egypt regulator suspends Beltone Financial IPO unit for 6 months
  • Public hearings show support for land expropriation – South Africa parliament
  • Madagascar’s next leader: accountant, DJ or milkman?
  • Sudan should prosecute Darfur crimes, pursue ICC arrest warrants – UN
  • South Africa’s finmin Mboweni says state airline should be closed down
  • Show must go on for Libya’s threatened actresses
  • South Africa’s Ramaphosa says arms firm Denel ripe for JV partnerships
  • Mnangagwa says Australian firm finds oil, gas in Zimbabwe
  • White farmer’s role highlights South Africa’s land reform challenge
  • Egypt signs $2.3 bln power plant deal with Saudi ACWA Power – minister
  • Angola expects economy to grow 2.8 pct in 2019 – minister
  • Nigeria shores up fuel needs ahead of 2019 election with BP deal
  • Angola sees oil production of 1.57 mbd in 2019 – govt budget
  • Wealthy Madagascar candidates woo sceptical voters trapped by poverty
  • Kenyan central bank sells dollars after shilling weakens
  • Ugandan shilling to gain, Nigeria’s naira to ease, Ghana’s cedi to slip; in week ahead
  • Tanzania arrests opposition leader over deaths claim – party
  • Zimbabwe’s Mangudya to get second term as central bank governor – report
  • Uganda shilling stronger on inflows from charities
  • Nigeria’s NNPC signs crude-for-product swap deal with BP
  • South African central bank made important changes to forecasting model
  • Suspected Boko Haram militants kill 15 in northeast Nigeria – residents
  • South Africa’s Absa PMI fell for a third consecutive month in October
  • Ethiopia get its first female supreme court president
  • South Africa’s Gold Fields union to strike over job cuts
  • Tunisia central bank holds key interest rate at 6.75 pct
  • South Africa’s Sibanye-Stillwater Q3 EBITDA dives 40 pct

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

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