By Rafiq Raji, PhD
Twitter: @DrRafiqRaji
Global Markets
- Asian shares up as “very good” trade talks boost risk appetite
- MSCI Asia ex-Japan +1.2%; Nikkei +1%
- Oil rises on OPEC head comments, trade deal hopes
- Trump says US-China negotiations “very, very good”
Oil Markets
- Oil extends gains on prospect of deeper OPEC output cuts, trade talks hopes
- Brent up 0.4% at $59.34 a barrel (0034GMT)
- WTI up 0.4% at $53.74
Precious metals
- Gold steadies as investors await concrete signals on trade, Brexit
- Palladium holds near all-time peak
- Technical resistance for gold around $1,520/oz. – analyst
- Gold eyes small weekly decline
- Spot gold up 0.2% at $1,496.49/oz.
- US gold futures little changed at $1,501/oz.
Grains
- Corn rebounds from 10-day low, set for first weekly loss in five
- Wheat futures unchanged at $4.93 per bushel
- Corn futures up 0.6% at $3.82-1/2 per bushel
- Soy futures up 0.7% at $9.29-1/2 per bushel
- Rice futures down 0.2% at $12.02 per hundredweight
Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]
- Africa oil & power conference in Cape Town, South Africa; 9-11 Oct
Key African events or data releases yesterday & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]
- Egypt discovers archaeological industrial zone in Luxor’s ‘Valley of the Monkeys’
- Nigeria seeks $62 bln from oil companies – attorney general
- Ivory Coast, Ghana to ‘re-examine’ cocoa industry’s sustainability schemes
- Africa Oil – Spot trade grinds to a halt as freight rates skyrocket
- Egypt’s annual urban consumer inflation falls to 4.8% in Sept as reforms bite
- Vedanta to shut down Skorpion zinc operations Namibia for 4 months
- South African rand stronger as dollar dips, stocks up
- Egypt’s core inflation at 2.6% in Sept from 4.9% in August – c.bank
- Sudan appoints first female judiciary head to fight corruption
- Ethiopia’s peacemaking prime minister emerges as a Nobel favourite
- US Treasury sanctions Gupta family, associate for South Africa graft
- Zambia says owes major mining firms $215 mln in tax refunds
- International donors pledge $14 bln to tackle AIDS – Macron
- Africa FX – Ugandan shilling seen weakening after rate cut
- Congo’s ebola outbreak slows but still entrenched in insecure areas – WHO
- South African cement group PPC’s CFO Ramano to step down
- Congo Republic president’s adviser awarded oil licenses at heart of Eni probe
- Asia Rice – African demand boosts Vietnam rates, India prices dip to 4-mth low
- Egypt eyes minority stake sales of state firms by end-Dec but doubts persist
- Equatorial Guinea says currency caps will hurt Gulf of Guinea energy prospects
- Royal Air Maroc suspends deal for 2 more Boeing 737 MAX planes – source
- South Africa’s manufacturing down 1.8% y/y in August
- Nigeria plans to team up with Cameroon to agree cocoa premium
- S&P Global says no immediate pressure on South Africa rating
- Rwanda launches first ‘Made in Africa’ smartphones
N.B. Full stories of above headlines are available on Reuters