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