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The FTSE 100 falls 2.35% intraday to 10,528 before closing down 1% as Europe absorbs the global AI rout, with insurers and miners leading declines.

Commerzbank net profit of 859 million euros slightly beat estimates, while full-year guidance stayed below consensus.

FG is courting European investors to fund expansion of about one million hectares of cocoa, oil palm, cashew and rubber estates.

DAX up 1.43%, CAC up 1.40%, FTSE up 1.11% as Democrats' sweep narrows policy risk; Nikkei fell 1.42% and gold jumped 2.87% to about $4,053.

Nigeria has presented a plan to expand tree crop plantations by one million hectares to European investors in Brussels, positioning cocoa and other tree crops as an investment frontier while rehearsing compliance with the EU's deforestation regulation.

The November climate indicator slipped to minus 30.8 as income expectations and willingness to buy remained weak despite a better national outlook.

Global markets steadied on Monday, October 26, as French government bonds rallied after Moody’s affirmed France’s rating and the OAT-Bund spread narrowed to 160 basis points, while Asian equities opened cautiously as oil eased from six-month highs.

Widening French-German bond spreads signal concern over France’s deficit and political paralysis, with implications for the euro and African markets.

Refinery closures, sanctions and strong demand are keeping European product markets tight, with knock-on effects for African importers.

European shares rallied while several African markets declined as regional factors drove divergence.

The European Union's ambassador to Nigeria, Gautier Mignot, says the country probably has the world's largest number of people living below the poverty threshold, and announced nearly E45 million in humanitarian assistance for 2026 plus E20 million in defence support.

The European Bank for Reconstruction and Development agreed a $20.9 million project financing with Beacon Power Services to deploy smart meters across six Nigerian distribution companies.

The Federal Government, the European Union and the European Bank for Reconstruction and Development signed a €14 million grant in Abuja to fund preparation of a planned 90,000-kilometre national fibre-optic backbone, though the money covers design and capacity building, not deployment.

Asia's cocoa grindings jumped 29.2% in Q3 2026 and Europe's rose 3.2%, pushing prices higher as demand recovers, with implications for Nigeria and Cote d'Ivoire.

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