#Africa #Markets | 4 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks up slightly in cautious trade as focus shifts to US payrolls
  • Markets nervous before non-farm payrolls
  • US short-term treasury yields continue to fall
  • Central banks struggling with response to trade friction
  • Asia ex-Japan stocks headed for third weekly decline

Oil Markets

  • Oil edges higher but on track for big weekly loss
  • Brent up 0.1% at $57.79 a barrel (0138GMT)
  • WTI up 0.2% at $52.57 a barrel

Precious metals

  • Gold gains on soft US service sector data, focus on jobs report
  • Spot gold up 0.2% at $1,508.12/oz. (0132GMT)
  • US gold futures flat at $1,513.9/oz.

Grains

  • Corn edges lower, set for biggest weekly gain in 4 mths
  • Wheat futures down 0.1% at $4.88-1/4 per bushel (0005GMT)
  • Corn futures down 0.2% at $3.88 per bushel
  • Soy futures down about 0.1% at $9.11-1/4 per bushel
  • Rice futures unchanged at $11.72 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
  • Nigeria Stanbic IBTC PMI Sep-19 [prev. 56.4]
  • South Africa state capture inquiry continues

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

  • Facebook says removed 211 accounts from UAE, Nigeria, Egypt and Indonesia
  • Nigeria levies $1.3 bln charge on banks for failing to meet loan target
  • Mali govt says death toll from double attack rises to 38
  • Cameroon releases 333 prisoners amid peace talks, separatists say not enough
  • Attacks kill 22 in Ethiopia’s Amhara region – party official
  • Tanzania denies hiding information on suspected ebola cases
  • Nearly 600 Burundian refugees head home as mass repatriation starts
  • Nigerian police to get stun guns, new rules of engagement in push to reduce deaths
  • South Africa’s rand firms as dollar, stocks fall
  • Egypt discussing possible new IMF cooperation – cbank gov
  • Egypt lowers gas price to $5.50-$6 per mln Btu for industry
  • Gunmen kidnap 6 schoolgirls in Nigeria
  • Africa Oil – Nigerian offers continue to slide
  • Nigerian lawmakers increase 2020 budget outline based on higher oil price
  • Egypt to appoint banks to handle share offer in United Bank
  • Mauritius launches first phase of $525 mln light rail system
  • Nigeria’s FCMB charged $46 mln for failing to meet loan requirement
  • Nigeria releases 25 children cleared of suspected ties with Boko Haram – UNICEF
  • Uganda detains supporters of presidential hopeful over banned red berets
  • South Africa, Nigeria mend relations and agree trade deals
  • Uganda shilling holds steady against the dollar
  • 5 Eritrean football players disappear in Uganda – official
  • South Africa debt-to-GDP could reach 95% by 2024, IIF says
  • Kenya’s first green bond issue raises 4.3 billion shillings
  • South African govt in talks with coal miners to cut prices for cash-strapped Eskom
  • Kenya shilling holds steady against the dollar
  • South Africa’s private sector contracts again in September – PMI
  • Egypt’s non-oil business activity contracts again in Sept – PMI
  • Zimbabwean women struggle to shake off sex-for-land corruption

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

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