macroafricaintel Daily Brief | 13 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slide on trade disappointment, HK unrest
  • Trump offers no new details on US-China trade pact
  • Trade war has taken toll on major economies
  • Commodities highlight concern about global demand

Oil Markets

  • Oil dips as US-China trade deal hopes fade
  • US crude stocks seen rising for 3rd week – survey
  • Oil demand growth to slow post-2025 – IEA
  • Forecast points to increased fuel efficiency, Evs
  • Brent down 0.3% at $61.90 a barrel (0124GMT)
  • WTI down 0.3% at $56.65

Precious metals

  • Gold hit by uncertainty over US-China trade deal, firmer dollar
  • Spot gold flat at $1,457.91/oz. (0116GMT)
  • US gold futures up 0.3% at $1,458/oz.

Grains

  • Soybeans inch up on slow US harvest pace
  • Soybean futures up 0.1% at $9.17-3/4 per bushel (0201GMT)
  • Corn futures up 0.3% at $3.76-3/4 per bushel
  • Wheat futures down 0.4% at $5.15 a bushel

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

  • Ghana 2020 budget statement by finmin Ofori-Atta
  • South Africa retail sales Sep-19 [fcst. 2.2% yy, prev. 1.1%]
  • 11th BRICS summit in Brasilia, Ramaphosa attending; 13-14 Nov
  • International Conference on Population & Development (ICPD) in Nairobi; 12-14 Nov
  • 2019 Africa investment forum by AfDB et al. in Johannesburg; 11-13 Nov

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

  • Uganda protests police killing of 2 nationals in Rwanda
  • Egypt seeks to parry rights criticism after mass arrests
  • Kenya pledges to end FGM by 2022 – ahead of global target
  • Eswatini next to suspend South African animal imports after foot and mouth outbreak
  • Petrol stations on Nigeria’s borders close after fuel delivery ban
  • Nigerian ‘unicorn’ Interswitch sells stake to Visa
  • Africa Oil – Angolan cargoes dwindle, Nigerian strong
  • South African state airline says it could cut more than 900 jobs
  • South Africa’s state airliner SAA says job cuts could save firm $47 mln
  • Morocco mandates banks for bond investor meetings – document
  • South Africa’s AMCU mining union seals platinum wage deals
  • Algeria’s Sonatrach renews Edison contract
  • Rain halts oil shipments from Algeria’s Skikda – Ennahar
  • Dubai’s DP World signs deal to develop business park in Namibia
  • Algerian court jails 21 protesters
  • Kenya’s Equity 9-mth pretax profit jumps on lending boost
  • Kenya’s Silverstone Air suspends all flights
  • Eni CEO doesn’t rule out interest in Dana Gas Egypt assets, but not a priority
  • Egypt lifts LNG exports from Idku terminal to 1 bln cubic feet per day
  • Cargo handled by Kenya’s Mombasa port up 9% Jan-Sept – port operator
  • Egypt hires banks for triple-tranche dollar bond issue
  • Egypt’s sovereign wealth fund to raise authorized capital to up to 1 tln pounds
  • Ghana sells 200,000 tonnes of cocoa with farmer premium
  • Zimbabweans get new banknotes, but angered by withdrawal limits
  • Ghana has sold 200,000T of cocoa with LID for 2020/21 – Cocobod
  • Kenya shilling steady, remittances to meet importer demand
  • 2 die during heavy rains in South Africa
  • South Africa’s Telkom in deal talks despite plunging profit
  • Bill to nationalise South Africa’s central bank in parliament
  • Mauritius appoints Renganaden Padayachy as its new finmin
  • Kenya’s Equity Group Holdings 9-mth pre-tax profit up 11%
  • South Africa’s Telkom reports 36% plunge in H1 profits54

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

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