macroafricaintel Daily Brief | 15 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares rise as Kudlow comments lift trade hopes
  • MSCI Asia ex-Japan +0.67%; Nikkei +0.76%
  • Kudlow says US, China getting close to trade deal
  • Yen weakens, US treasury yields higher

Oil Markets

  • Oil rises on hopes for OPEC supply curbs, new optimism on US-China trade deal
  • Brent up 0.5% at $62.58 a barrel (0147GMT)
  • WTI up 0.5% at $57.06

Precious metals

  • Gold falls as US-China trade pact hopes spur risk appetite
  • Spot gold down 0.24% at $1,467.44/oz. (0117GMT)
  • US gold futures down 0.4% at $1,468.20/oz.


  • Wheat faces 4th week of decline on ample world supplies
  • Wheat futures down 0.1% at $5.07-1/2 per bushel (0118GMT)
  • Corn futures unchanged at $3.75-3/4 per bushel
  • Soy futures up 0.1% at $9.17-3/4 per bushel
  • Rice futures unchanged at $11.85 per hundredweight

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

  • South African Airways’ staff strike; Fri & Sat flights cancelled
  • Kenya’s Kenyatta to meet key Mount Kenya politicians
  • Nigeria digital economy summit; 14-15 Nov

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

  • Eastern Libya authorities stop plane from rival territory
  • Demonstrator dies in protests against Guinea president
  • BRICS leaders avoid discussion of Venezuela divisions
  • Algeria lawmakers approve reforms to oil industry, other sectors
  • Algeria appoints new central bank governor and head of energy company
  • Kenya, Somalia agree to restore ties after spat over oil rights
  • Egypt central bank makes third straight cut to interest rates
  • BRICS nations vow to stand up to unilateral protectionism
  • Nigeria to form border force with neighbours Benin and Niger to fight smuggling
  • Africa Oil – Angolan slumps on weaker middle distillate margins
  • Morocco’s OCP sees Nigeria ammonia plant starting up in 2023
  • Paris wheat curbed by Egypt tender, German premiums rise again
  • South Africa’s SAA cancels flights as employees plan strike over wages
  • Nigerian stocks rise as local funds snap up banking shares
  • South Africa’s Pepkor to take 1.2 bln rand charge in FY 2019
  • Russia-Zimbabwe platinum venture needs $500 mln for first phase
  • Sudan looks to pyramids to attract tourism – and hard currency
  • South Africa’s rand firms despite risk-off mood, equities fall
  • South Africa’s Netcare expects FY HEPS to more than triple
  • Zimbabwe to cut value added tax to boost consumer demand
  • Nigerian stocks rise to 5-wk high as banks rally
  • Egypt to create firm to guarantee credit for exports to Africa –
  • Zimbabwe to lower value added tax from January – finmin
  • Zimbabwe’s economy forecast to grow 3% next year – finmin
  • UAE, Egypt plan $20 bln spending on social, economic projects – Abu Dhabi crown prince
  • Algeria lawmakers approve new energy law to attract foreign investors
  • Africa FX – East African currencies seen firm, Zambia’s weak
  • Egypt unemployment increases to 7.8% in Q3 – stats agency
  • Rollout of Johnson & Johnson ebola vaccine begins in Congo
  • Egypt textiles salvage plan reveals backing for state sector
  • Russia says BRICS nations favour idea of common payment system
  • Two SAA unions to challenge airline’s jobs cut plan in court
  • Ivory Coast mandates Morocco’s BCP to arrange bond
  • Egypt issue dollar-denominated eurobonds worth $2 bln
  • South Africa’s SAA to offer striking employees revised wage hike at emergency meeting
  • South Africa’s Nedbank to pay for mortgages under new rewards scheme
  • Kenyan shilling firms to near 4-1/2 mth high, helped by remittances

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

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