#Africa #Markets | 3 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

  • Asian stocks slide as US tariffs on EU fan growth worries
  • US tariffs on EU goods hit already weak sentiment
  • Treasury yields show waning confidence in growth

Oil Markets

  • Oil extends losses as economic data, growing inventories drag
  • Brent down 0.3% at $57.52 a barrel (0052GMT)
  • WTI down 0.2% at $52.55

Precious metals

  • Gold rises as weak US data fuels global slowdown worries
  • Spot gold up 0.1% at $1,500.59/oz. (0105GMT)
  • US gold futures down 0.1% at $1,506.4/oz.


  • Wheat rebounds from heavy losses but checked by slow US sales
  • Wheat futures up 0.2% at $4.90 per bushel (0306GMT)
  • Corn futures unchanged at $3.87-3/4 per bushel
  • Soy futures nearly unchanged at $9.13-1/2 per bushel
  • Rice futures up 0.2% at $11.74 per hundredweight

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

  • Nigeria’s Buhari in South Africa for state visit; 2-4 Oct
  • Kenya’s Nairobi international trade fair; 30 Sep – 6 Oct
  • South Africa Standard Bank PMI Sep-19 [prev. 49.7]
  • South Africa SACCI business confidence Sep-19 [prev. 89.1]
  • 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]

  • Zimbabwe women struggle to shake off sex-for-land corruption
  • Mali army families demand answers after deadly raids against soldiers
  • Landslide at gold mine in eastern Congo kills at least 16
  • Women’s football league kicks off in post-Bashir Sudan
  • Rwanda charges 25 men tied to rebel outfit with treason, other crimes
  • Remittances from Egyptians working abroad rose to $2.6 bln in July – central bank
  • South African union files case against Samancor Chrome over alleged fraud
  • Africa Oil – Sonangol seeks to sell several cargoes but buyers hold out
  • Hit by wildfires and heat, Tunisia’s youth join climate protests
  • US re-opens embassy in Somali capital amid persisting Islamist violence
  • South Africa’s Discovery targets mental health with rewards plan
  • US Justice dept drops investigation into Shell over Nigerian oil deal
  • Nigeria’s central bank pressures lenders with loan requirement increase
  • Kenya finds $71 mln in suspect cash as it retires old notes – cenbank
  • UK’s Prince Harry says he wants to pass on “embrace” of Africa to son Archie
  • Tunisia has initial plans to issue bonds up to 800 mln euros in 2020 – senior govt official
  • South Africa’s AMCU mining union sees imminent wage deal with Impala Platinum
  • South African miner Harmony gets new $400 mln credit facility – bank
  • Uganda shilling slightly stronger, liquidity injection could trim gains
  • African mast operator Helios Towers launches up to $1.8 bln London IPO – source
  • South Africa’s Bidcorp to sell unit to Tesco’s Booker
  • South Africa’s rand weakens as global recession fears weigh

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.