#Africa #Markets | 5 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks rally peters out as trade, Fed worries dominate
  • World stocks fall after 4-day rally
  • Italy leads Europe down as banks slide
  • Crude slides as waivers dilute Iran sanctions
  • Investors cautious before US midterms
  • Sterling jumps on Brexit deal hopes

Oil Markets

  • Oil slips as US sanctions on Iran begin, Tehran defiant
  • US sanctions against Iran’s fuel exports started Monday
  • But Washington grants temporary waivers to key buyers
  • Iran says it will break sanctions and still sell oil
  • US, Russia, Saudi output rises
  • Analysts say demand could slow amid economic downturn
  • Brent down 30 cents at $72.53 (0815GMT)
  • US light crude down 30 cents at $62.84 a barrel

Precious metals

  • Gold prices hold steady amid easing dollar
  • Spot gold steady at $1,232.86 per ounce (0126GMT)
  • US gold futures up 0.1 pct at $1,234.6 per ounce

Grains

  • Corn firms up, hovers near highest level in more than 2 weeks
  • Most active CBOT wheat futures up 0.5 pct at $5.11-1/4 per bushel (0148GMT)
  • Most active corn futures up 0.2 pct at $3.72 per bushel
  • Most active soy futures nearly unchanged at $8.88 per bushel
  • Most active rice futures up 0.8 pct at $10.83 per hundredweight

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

  • South Africa Standard Bank PMI Oct-18 [act. 46.9, prev. 48]
  • Nigeria Stanbic IBTC PMI Oct-18 [act. 54.4, prev. 56.3]

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

  • Kenyan shilling steady amid inflows from exports, remittances
  • Uganda shilling weaker inches down against the dollar
  • Danish suspect in $17 million fraud case arrested in South Africa
  • EU reviews relations with Tanzania over homosexuality crackdown
  • Equatorial Guinea’s energy sector gets $2.4 bln boost – ministry source
  • Kenya’s Equity Bank’s 9-mth pretax profit up 8 pct
  • South African rand weakens as risk sentiment dims
  • AngloGold posts 15 pct drop in Q3 production, but confident of meeting FY target
  • Egypt’s foreign reserves rise to $44.501 bln in Oct – central bank
  • Facebook’s Cameroon problem: stop online hate stoking conflict
  • AngloGold Q3 output falls on sales of South African assets
  • Egypt’s non-oil business activity slows slightly in Oct – PMI
  • Sudan accepts South Sudanese mediation in border regions
  • South African home affairs minister says he will “fight to bitter end” over accusations – City Press newspaper
  • Eritrean president says trust growing with Ethiopia, but more work needed
  • South Africa’s enterprise ministry says state airline should prepare for equity partner
  • Egypt says 19 militants killed in security operation after attack on Chrisitians
  • Egypt’s Sarwa Capital exposed to IPO “irregularities” – regulator
  • Phase two development of Libya’s Bahr Essalam gas field to finish by end 2018
  • Sudan hikes flour subsidies by 40 pct to lower bread prices
  • Russian-made fighter plane crashes in Egypt – RIA
  • Barrick shareholders set to approve Randgold acquisition – sources
  • Global banks HSBC, UBS close Nigeria offices, foreign investment falls
  • Islamic State claims responsibility for attack near Egyptian monastery – AMAQ
  • Africa Crude – Angolan weaker, Nigeria steady
  • Gaza border protest more subdued as Egypt pushes for calm
  • Tanzanian opposition leader charged with sedition after statement on clash
  • South Sudan frees rebel chief’s associates to back peace deal
  • South Africans make bricks from human urine
  • Egypt’s Sisi vows to continue campaign against militants after bus attack
  • Electric car demand fuelling rise in child labour in DR Congo – campaigners
  • Uganda to finalise China loan for new railway by year-end
  • Uganda begins Ebola vaccinations amid Congo transmission fears
  • Zambia power system glitch cuts electricity supply to some mines
  • Kenya’s Safaricom warns that higher taxes could hit demand
  • Australia’s Invictus says it has not found oil and gas deposits in Zimbabwe
  • Kenya’s Safaricom first-half revenue jumps nearly 8 pct
  • Rain or shine, grain banks help Kenyan farmers beat trade cartels

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

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