#Africa #Markets | 7 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Wall Street futures, Asia stocks jump back on GOP’s house prospects
  • Shares gain as Republicans seen faring better than expected
  • Dollar erase losses, US bond yields near 7-yr peak
  • Trade worries likely to remain regardless of election outcome

Oil Markets

  • Oil pirces extend falls on well supplied market, Iran sanction waivers
  • Brent crude down over 17 pct since Oct, WTI down 20 pct
  • Iraq plans output rise to 5 mln bpd in 2019
  • US grants Iran’s biggest customers sanction waivers
  • US WTI crude oil futures down 0.7 pct at $61.79 a barrel (0053GMT)
  • Brent yet to trade

Precious metals

  • Gold gains on weaker dollar; US election in focus
  • Spot gold up 0.2 pct at $1,228.40 per ounce (0118GMT)
  • US gold futures up 0.3 pct at $1,229.7 per ounce

Grains

  • Wheat drops from 1-wk high; US crop condition caps losses
  • Most active CBOT wheat futures down 0.2 pct at $5.11-1/4 per bushel
  • Most active soybean futures down 0.1 pct at $8.83 a bushel
  • Most active corn futures down 0.5 pct at $3.71-1/2 a bushel

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

  • Africa Investment Forum by AfDB in Johannesburg today; 7-9 Nov
  • South Africa FX reserves data for October expected [prev. $50.394B]
  • South Africa SACCI business confidence data for October [prev. 93.3]
  • Prince Charles & wife state visit to Nigeria (day 2)
  • Madagascar presidential election today
  • Africa oil week in Cape Town continues; 5-9 Nov

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

  • Feature – As slavery evolves in Mauritania, silent victims prove harder to find
  • Cameroon leader tells seperatists to down arms after child kidnappings
  • Madagascar set to vote in presidential election
  • Egypt’s Sisi orders review of law curbing NGOs
  • Thomas Cook plans hotel hygiene checks after Egypt deaths
  • Nigerian unions, govt agree minimum wage to avert strike
  • Egypt’s Sisi says army will defend Gulf Arabs in case of direct threat – newspaper
  • Africa Crude – Nigerian diffs hold steady but buyers say prices too high
  • Uranium levels force Glencore unit Katanga to halt cobalt exports
  • Four of six rare black rhions die after move to Chad
  • Ghana lauches commodity exchage for agric products
  • Sudan in push for oil sector investment
  • Mozambique offers to share gas revenue in “tuna bond” restructuring
  • Standard Bank urges Brazilian firms to tap Africa market
  • ABC Holding selling 24.9 pct in lender BancABC Botswana
  • Thousands hiding in Central African Republic hospital risk attack – charity
  • Lebanon minister apologies to Egypt for insulting its cleanliness
  • Mauritanian activists hail US decision to end trade deal over slavery
  • Kenya’s Safaricom takes M-Pesa global with Western Union
  • Republic of Congo launches oil exploration licensing round
  • Nigeria’s Mona Lisa shown at home for first time since it resurfaced
  • Nigeria senate to probe state oil firm over Nigeria LNG revenues
  • Uganda to launch next oil exploration bidding licence round next May
  • Nissan signs deal to build assembly plant in Ghana
  • South Africa’s Ramaphosa says shutting SAA could collapse public finances
  • Tullow sees first Kenyan crude shipments in first half 2019
  • Randgold ready to mediate in Acacia’s Tanzania row before Barrick tie-up
  • Dry weather forces Mauritius to cut 2018 sugar output forecast again
  • Feature – South African shack-dwellers’ movement fights for urban land reform
  • EU tax haven blacklist drops to five with removal of Namibia
  • 17 migrants perish crossing from Africa to Spain – Spanish Coast Guard
  • South Africa’s Group Five says Ghanaian power project delayed
  • Feature – Seeds of change: Mali farmers fight drought with hybrid crops
  • Egypt central bank says to target inflation as part of monetary policy
  • Sarwa Capital’s IPO prospectus contained no irregularities – Egypt’s Beltone
  • Mozambique dollar bond jumps 7 cents after Maputo announces restructuring deal
  • Ugandan shilling unchanged as players eye offshore inflows
  • Mozambique to share gas revenue in ‘tuna bond’ restructuring – finmin
  • Randgold says Q3 profit jumps helped by lower costs
  • Feature – In Israel, African migrant families battle hunger, trauma
  • South Africa’s Harmony Gold Q1 output surges on Hidden Valley, Moab Khotsong

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

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