macroafricaintel Daily Brief | 23 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares slip on Brexit snag
  • Brexit delay saps rally in global shares
  • Texas Instrument earnings hit chipmakers

Oil Markets

  • Oil slips after US inventory build, but possible OPEC cuts support market
  • Brent down 0.5% at $59.42 a barrel (0123GMT)
  • WTI down 0.7% at $54.08

Precious metals

  • Gold bides time as traders await clarity on Brexit
  • Spot gold unchanged at $1,488.50/oz. (0125GMT)
  • US gold futures up 0.3% at $1,491.30/oz.


  • Soybeans rise on China demand prospects; wheat, corn firm
  • Wheat futures up 0.1% at $5.18-3/4 per bushel (0038GMT)
  • Corn futures up 0.1% at $3.88-1/2 per bushel
  • Soy futures up 0.2% at $9.35-1/2 per bushel
  • Rice futures unchanged at $11.70 per hundredweight

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

  • Botswana elections today; ruling BDP faces first genuine challenge from Khama-backed UDC
  • Russia-Africa summit in Sochi; 23-25 Oct
  • South Africa inflation Sep-19 [fcst. 4.1% yy, prev. 4.3%]
  • Mozambique election results awaited; Nyusi expected to win

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

  • Sudan upbeat on prospects for removal from US terrorism list
  • Egypt accepts invitation to meet in US over Ethiopia dam dispute
  • Ethiopia sees rise in businesses doing good as economy opens up
  • Guinea protest leaders sentenced to jail for organising against president
  • More than 100 elephants die in Botswana in suspected anthrax outbreak
  • Morocco to issue international bond in November – finmin
  • South African rand rallies 1% to 1-mth best, stocks weaker
  • South Africa approves $4 bln bailout for debt-laden Eskom
  • Botswana votes in first real challenge to ruling party
  • South African airlines ground flights after faults found at SAA maintenance unit
  • Africa Oil – Bonny Light, Bonga schedules out, IOC issues new tenders
  • Ethiopia to issue 2 telecoms licenses by April, behind initial schedule
  • Namibia’s economy to shrink again in 2019 – finmin
  • South Africa signs deal with Tencent to boost Chinese tourists
  • Russia-Zimbabwe platinum venture needs $500 mln for first phase
  • War creates new uncertainty for migrants in Libya
  • PM Abiy says Ethiopia ready to hold elections in 2020
  • Congo spy informant dies while on trial for UN experts’ killing
  • Mozambique’s Nyusi heads for big win as poll irregularities reported
  • UN calls for release of ex-aide to Egypt’s Mursi, son jailed since 2013
  • VW weighs expanding ride-hailing business to Ghana
  • Morocco’s CPI rises 0.3% in Sept – planning agency
  • Russian JV Great Dyke Investments needs $500 mln for phase 1 of Zimbabwe platinum
  • Regulator accepts SAA plan to fix faults at maintenance unit
  • South Africa’s Eskom takes Deloitte to court alleging improper contracts
  • Kenya launches first breast milk bank to help newborns
  • Armed robbers attack DRDGOLD plant in South Africa, kill security officer
  • Uganda shilling unchanged as charity flows lend support
  • Mozambique’s president victorious in election – observer group
  • South Africa’s Standard Bank cuts value of ICBCS stake as market worsens
  • South Africa’s Pick n Pay first half-earnings rise 9.5%
  • South African Airways recalls some aircraft for compliance checks

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

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