macroafricaintel Daily Brief | 7 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks stymied by trade talk frustration
  • Nikkei idles near 13-mth high, most markets flat
  • Reuters reports phase 1 trade deal delayed to Dec
  • Bonds bounce, dollar cedes some gains to yen

Oil Markets

  • Oil unchanged after overnight losses amid caution over trade talks
  • Brent flat at $61.74 a barrel (0158GMT)
  • WTI down 3 cents at $56.32

Precious metals

  • Gold little changed as investors seek clarity on trade negotiations
  • Spot gold up 0.1% at $1,490.89/oz. (0107GMT)
  • US gold futues down 0.1% at $1,491.70/oz.

Grains

  • Soybeans hover near 1-wk low as trade deal delay weighs
  • Soybean futures trading at $9.27-3/4 per bushel (0017GMT)
  • Corn futures up 0.1% at $3.79 a bushel
  • Wheat futures little changed at $5.17-1/4 a bushel

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

  • Mauritius general election
  • Kenya’s Kibra constituency by-election
  • South Africa manufacturing production Sep-19 [fcst. 0.1% yy, prev. -1.8%]
  • South Africa SACCI business confidence Oct-19 [fcst. 92.5, prev. 92.4]
  • South Africa FX reserves Oct-19 [prev. $54.9B]
  • Nigeria diaspora investment summit; 6-7 Nov
  • UNDP high-level dialogue in Accra
  • Africa oil week; 4-8 Nov
  • Week-long celebrations in South Africa; after Rugby World Cup win
  • 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]

  • Egypt, Ethiopia, Sudan to try to resolve dam dispute by Jan. 15 – Treasury
  • At least 37 killed in attack on Canadian miner Semafo convoy in Burkina Faso
  • Water crisis builds in Egypt as dam talks falter, temperatures rise
  • Trump says talks with Egypt, Ethiopia, Sudan on dam dispute went well
  • ‘Wave of hope’ to end FGM in Ethiopia as activist pioneer dies
  • Ride-hailing market revs up in Egypt
  • South Africa’s Ramaphosa cheers $24 bln more for investment drive
  • Algeria aims to cut imports, balance of payment deficit in 2020
  • Hacked Moroccan lawyer urges action against cyber spies
  • Ghana to change laws on licences to spur oil production
  • Militia in Congo kills 10 civilians in village raid
  • Heavy rains, flooding displace hundred of thousands in East Africa
  • Africa Oil – Cargoes clear, IOC tender result awaited
  • Rugby – ‘Beast’ Mtawarira retires after beauty of a World Cup win for South Africa
  • South African rand inches lower while stocks reach 2 mth highs
  • Kenyan lenders target small and medium businesses with digital loans
  • Total seeks to sell stake in major Nigerian offshore block
  • Angola bid round for 10 fields in Namibe, Benguela basins closes next week
  • Egypt to auction 1-yr euro t-bills on Nov. 11 – central bank
  • Equatorial Guinea to award 7-8 blocks in Nov, press for more drilling
  • Uganda aims for Q1 investment decision on oil pipeline – minister
  • Nearly half of Kenyans surveyed by police watchdog report abuses by officers
  • Zimbabwe police stop public workers from marching for better pay
  • Ivory Coast petroleum ministry announces tenders for 5 offshore blocks
  • Ghana to revoke 4 petroleum licences for lack of development – deputy minister
  • Uganda revamps century-old rail network after China delays funding
  • DR Congo hydrocarbons minister says change of power in country encouraging investment
  • Uganda energy minister invites bidding on 5 oil blocks
  • South Africa’s Ramaphosa bets $13.5 bln of investment pledges at summit
  • Ghana deputy energy minister says laws must change for more offshore exploration
  • Mozambique to appeal South African ruling to set aside extradition of ex-finmin
  • Tullow CEO says too early for new investment date on Uganda oil project
  • Some Nigerians blame govt, not religious leaders, for shocking school abuses
  • Kenyan shilling stronger after parliament removes lending rate cap
  • Mozambique sees new oil and gas bidding round in 2020
  • Kenyan bank shares up after parliament passes rate cap appeal
  • Australia’s South32 exits South Africa thermal coal business

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

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