macroafricaintel Daily Brief | 12 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia shares left guessing on trade, await Trump speech
  • Shares mark time in Asia, bonds bounce a little
  • Awaiting Trump speech in New York for news on trade
  • Reports Trump to delay auto tariffs on EU for 6 mths
  • Sterling holds gains after Boris gets a Brexit boost

Oil Markets

  • Oil dips for 2nd day on lack of trade talk progress
  • Brent down 0.2% at $62.04 a barrel (0256GMT)
  • WTI down 0.3% at $56.68 a barrel

Precious metals

  • Gold flat as investors shift focus to Trump speech
  • Spot gold flat at $1,455.55/oz. (0057GMT)
  • US gold futures unchanged at $1,456.60/oz.

Grains

  • Soybean futures rebound from 1-mth low
  • Soybean futures up 0.1% at $9.17-3/4 per bushel (0148GMT)
  • Corn futures up 0.1% at $3.73-3/4 per bushel
  • Wheat futures little changed at $5.05-3/4 per bushel

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

  • International Conference on Population & Development (ICPD) in Nairobi; 12-14 Nov
  • 2019 Africa investment forum by AfDB et al. in Johannesburg; 11-13 Nov
  • Lesotho PM Thabane in Kenya

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

  • Guinea president replaces security minister following deadly protests
  • Jordan, UAE, Turkey, Sudan accused of violating sanctions on Libya – UN report
  • Ghana to finalise $600 mln cocoa loan package this week
  • Kenya hosts global sexual health summit amid protests from Catholics, pro-life groups
  • Africa Oil – Spot muted after previous flurry of sales
  • South Africa’s rand weaker on China-US trade deal delay
  • Nigeria’s mental health system routinely chains patients up, says Human Rights Watch
  • After fanfare, new Zimbabwe banknotes fail to arrive
  • Egypt sells 695 mln euros in euro-denominated t-bills – central bank
  • Gambia files Rohingya genocide case against Myanmar at World Court – justice minister
  • Reopening of Boungou mine in Burkina will depend on security – Semafo
  • Founder of South African asset manager Allan Gray dies at 81
  • South Africa’s MultiChoice H1 profits rise 22%
  • South Africa – Johannesburg seeks to avert ‘ecological disaster’ from beetle-infested trees
  • African oil states offer new deals to lure more selective investors
  • South Africa’s Absa to open New York office by end of the year
  • Egypt’s core inflation rises to 2.7% in Oct from 2.6% in Sept – c.bank
  • Drought-hit Zimbabwe readies mass wildlife migration
  • Egypt has imported rice reserves through first week of February – minister
  • Congo central bank lowers 2019 GDP growth forecast to 4.6%
  • Egypt targets 6.4% growth, 6.2% deficit in fiscal 2020/2021 – finance ministry
  • Kenyan shilling firms to 4-mth high, helped by remittances
  • ArcelorMittal South Africa to close Saldanha operation
  • South Africa’s Aspen to sell Japan business to Novartis in bid to reduce debt
  • South Africa’s Vodacom H1 profits rise 19%

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

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