macroafricaintel Daily Brief | 19 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares mixed as doubts grow on elusive US-China trade deal
  • Markets on edge, await signs of breakthrough on trade
  • Chinese stocks rise; Japan, South Korea fall
  • Currencies also becalmed, awaiting concrete news

Oil Markets

  • Oil slips as lack of US-China trade talk progress frays investor nerves
  • Brent down 0.2% at $62.32 a barrel (0148GMT)
  • WTI down 0.2% at $56.95 a barrel

Precious metals

  • Gold rises as Sino-US trade deal doubts resurface
  • Spot gold up 0.2% at $1,473.04/oz. (0105GMT)
  • US gold futures up 0.2% at $1,474.10/oz.

Grains

  • Corn rebounds from 2-mth low as US harvest pace lags
  • Corn futures up 0.2% at $3.68-1/2 a bushel (0145GMT)
  • Soybean futures up 0.1% at $9.11-1/2 a bushel
  • Wheat futures down 0.1% at $5.06-3/4 a bushel

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

  • G20 compact with Africa investment summit & conference in Berlin
  • Nigeria finance bill 2019 public hearing
  • South Africa state capture inquiry continues
  • Global Business Forum Africa 2019 summit in Dubai; 18-19 Nov

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

  • US blacklists former Kenyan attorney general over corruption allegations
  • Mali army says 24 soldiers, 17 militants killed in attack on northern patrol
  • Air strike hits biscuit factory in Libyan capital, killing 10
  • EU wheat firm as Algeria tender adds to export demand
  • South Africa appoints Nampak’s de Ruyter as CEO of indebted Eskom
  • Africa Oil – Angolan December cargoes almost sold out, new programme emerges
  • Zimbabwe central bank halves main rate despite soaring inflation
  • Jumia suspends its e-commerce business in Cameroon
  • Niger’s main opposition leader returns to jail with eye on presidental bid – lawyer
  • Zimbabwe central bank cuts main lending rate to 35% from 70% – statement
  • Egypt risks US sanctions over Russian fighter jet deal – US official
  • South Africa’s rand weakens, monetary policy in focus
  • Ivory Coast 2019/20 cocoa grind up 4.4% by end Oct.
  • South Africa’s Naspers forecasts lower first-half profit
  • Botswana cuts 2019 economic growth forecast
  • UK lawmaker blames HSBC, Stanchart, Baroda in South Africa corruption
  • Egypt sells $1.56 bln 1-yr dollar t-bills
  • South Africa’s SAA to resume some regional flights, cancel domestic
  • Nigeria oil firm Seplat says CEO to retire in July
  • South Africa Astral Foods’ profits hit by high feed costs, drought
  • Test for Ethiopia’s reforms as Sidama people vote on autonomy
  • Food prices push Nigeria inflation to 17-mth high after border closures
  • Egypt grants 51 brokerage firms short-selling bourse licence
  • Uganda shilling holds steady against the dollar
  • Kenyan shilling firms against the dollar
  • Nigeria annual inflation at 11.61 pct in October – stats office
  • South Africa’s Netcare posts higher HEPS, forecasts hit to first-half
  • South Africa’s Pioneer Food reports 6% fall in annual profit
  • South Africa MTN, Cell C expand roaming agreement

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

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