#Africa #Markets | 8 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • China joins Asian shares in cautious advance ahead of trade talks
  • Investors nervous ahead of US-China trade talks
  • China shares, yuan up a tad after week-long holiday
  • Turkish lira drops to 1-mth low on tension over Syria

Oil Markets

  • Oil rises, buoyed by gains in industrial commodities
  • Death toll mounts in Iraq after a week of unrest
  • Ecuador may cut output by 59,450 bpd on protests – ministry
  • US crude stockpiles may rise for 4th week – poll
  • Brent up 0.7% at $58.74 a barrel (0102GMT)
  • WTI up 0.7% at $53.10

Precious metals

  • Gold dips as dollar holds strong ahead of Sino-US trade talks
  • Gold set for third straight decline
  • Spot gold down 0.2% at $1,491.05/oz. (0444GMT)
  • US gold futures down 0.5% at $1,496.40/oz.

Grains

  • Corn extends gains into second session on USDA harvest report
  • Wheat futures up 0.1% at $4.89-3/4 per bushel (0023GMT)
  • Corn futures up 0.3% at $3.88-1/4 per bushel
  • Soy futures up 0.2% at $9.16-1/4 per bushel
  • Rice futures down 0.1% at $11.63 per hundredweight

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

  • Nigeria’s Buhari to deliver 2020 budget speech
  • 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]

  • Mali sees cotton output at 1 mln T, urges action on subsidies
  • Ivory Coast creditors of SAC-Cacao praise clean-up by buyer SACC
  • South African rand weakens as focus shifts to China-US trade talks
  • South Africa’s Tongaat postpones full-year results, mulls measures to cut debt
  • Africa Oil – Buyers wary as high freight rates weigh
  • South Africa’s Impala to buy North American Palladium for about $750 mln
  • Rwanda launches first ‘Made in Africa’ smartphones
  • South Africa – “Everything was cool”: Zuma son denies wrongdoing at graft inquiry
  • South Africa’s Tongaat mulls sale of assets, rights issue
  • Uganda Airlines receives two Bombardier passenger planes
  • Zimbabwe economy seen contracting up to 6% in 2019 – treasury document
  • Zimbabwe doctors defy govt ultimatum to end strike
  • Egypt studies plan to cut stock exchange fees
  • Ivory Coast cocoa arrivals rise to 35,000 T by Oct. 6 – exporters
  • Egypt stocks gain on talks for IMF assistance
  • Mali says cotton output to reach 1 mln tonnes, eyes new varieties
  • Uganda central bank cuts main lending rate to 9.0%
  • Uganda shilling a touch weaker after central bank cuts key rate
  • Tunisia election gives few clues to shape of next govt
  • Kenya struggles to cope with growing number of heroin users
  • South Africa’s net foreign reserves fall to $44.058 bln in September
  • OPEC’s Barkindo says too early to discuss deeper output cuts – TASS
  • Australia’s Fortescue confirms bid to develop Guinea iron ore
  • Rwanda kills 19 assailants after deadly national park attack

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

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