By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

• Asian shares inch up, investors pin hopes on US-China talks
• Nikkei up 0.7%, ex-Japan Asia up 0.24%
• US-listed Chinese shares bounce after Friday’s fall
• China markets begin 1-wk holiday closure
• Euro near 2 1/2-yr low

Oil Markets

• Oil prices recover after output from US, Russia, OPEC drop
• OPEC output drops to lowest in 8 yrs in Sept – survey
• US production falls for 3^rd month in July – EIA
• Russia output falls but still above quota
• US crude stockpiles likely rose last week – poll
• Brent up 0.9% at $59.76 per barrel (0426GMT)
• WTI up 1% at $54.59

Precious metals

• Gold falls to near 2-mth low as robust dollar weighs
• Spot gold may fall towards $1,446/oz. – technicals
• Dollar hits more than 2-yr high
• Silver lowest since Aug 20 at $16.87
• Spot gold down 0.4% at $1,465.80/oz. (0456GMT)
• US gold futures down 0.1% at $1,471.80/oz.

Grains

• Soybeans hit more than 2-mth peak on slow harvest
• Wheat futures up 0.3% at $4.97-1/4 per bushel (0147GMT)
• Corn futures down 0.1% at $3.87-3/4 per bushel
• Soy futures up 0.1% at $9.06-1/2 per bushel
• Rice futures down 0.4% at $11.97 per hundredweight

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

• Nigeria Independence Day
• South Africa ABSA manufacturing PMI Sep-19 [prev. 45.7]
• South Africa SACCI business confidence Sep-19 [prev. 89.1]
• South Africa total new vehicle sales Sep-19 [prev. 45.54K]
• Egypt FX reserves Sep-19 [prev. $44.9B]
• South Africa state capture inquiry continues

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

• Nigeria’s Rivers state says it bought Shell stake in Ogoniland oilfield
• Morocco court jails journalist on abortion charge that she denies
• Egypt’s current account deficit widens in the last quarter of 2018/19
• Uganda presidential hopeful Bobi Wine denounces govt ban of his ‘red beret’ symbol
• Nigeria police free 19 women and girls from Lagos ‘baby factory’ – statement
• ICC puts Mali war crimes suspect to trial
• 10 militants killed after Somalia attack: US military
• Africa Oil – Overhang lingers as high freight weighs
• 5 more migrant bodies found from Morocco capsizing
• South Africa’s rand, stocks dip as US-China trade spat cools demand
• Kenya farmers mix tradition with tech to protect drying Mara River
• Algeria’s Sonatrach says it discussed partnerships with Exxon Mobil
• South Africa’s Transnet unauthorised spending soars, overshadows revenue rise
• Cameroon peace talks falter as seperatists, politicians boycott
• Kenya economic growth slows to 5.6% in the second quarter
• Interest rate cuts to save Egypt up to $1.54 bln – deputy finmin
• Tunisia’s budget will rise in 2020 to $16.4 bln
• South Africa – Steinhoff Investments says 2017, 2018 results to be delayed further
• UK’s Prince Harry makes conservation appeal, observes anti-poaching drill in Malawi
• South Africa’s trade balance swings to surplus in August
• Cameroon’s Anglophone rebels boycott talks with govt
• Nigeria activist Sowore pleads not guilty to treason charges
• Armed with trumpets, South African men blow away street crime against women
• Egypt operator owed $7.7 mln by Thomas Cook – chairman
• Kenya’s year-on-year inflation drops to 3.83% in September
• South Africa’s Transnet says irregular expenditure up to 49 bln rand
• Uganda shilling edges down on importer demand
• Italian military convoy hit by explosion in Somalia – defence min
• Kenya’s shilling holds steady as remittance flows offers support
• Twin attacks hit EU military convoy in Somali capital and US base in Baledogle
• South Africa to finalise growth strategy “within next few weeks” – Ramaphosa
• South Africa’s Transnet reports 1.6% rise in annual revenue
• South Africa’s credit demand growth slows to 6.86% y/y in August
• Oil major Total closes purchase of Anadarko’s Mozambique LNG asset
• Victims of north Nigerian institution share stories of terror

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