macroafricaintel Daily Brief | 6 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares gain as Trump fuels trade deal optimism, oil firm on OPEC+ output cut
  • Trump still upbeat on deal with Beijing despite gap over tariffs
  • Oil prices hold at recent highs as OPEC+ deepens cuts
  • Investors eye US jobs data, Fed’s policy decisions

Oil Markets

  • Oil rises, US crude trading 2-mth high after OPEC cut
  • Brent up 1 cent at $63.40 a barrel (0101GMT)
  • WTI up 2 cents at $58.45

Precious metals

  • Gold flat as risk sentiment rises on trade optimism; set for weekly rise
  • Spot gold flat at $1,475.51/oz. (0120GMT)
  • US gold futures down 0.2% at $1,480.80/oz.

Grains

  • Soybean futures extend gains, linger near 9-day top
  • Soybean futures up more than 0.5% for the week
  • Corn futures down about 0.5% for the week
  • Wheat futures down 3% for the week

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

  • 2019 corruption in Nigeria report release by NBS & UNODC
  • South Africa’s Ramaphosa on working visit to Togo (6 Dec)
  • 7th OPEC & non-OPEC ministerial meeting in Vienna
  • South Africa FX reserves Nov-19 [prev. $54.53B]
  • South Africa state capture inquiry resumes

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

  • When did you last see an African video game hero? Asks Kenya’s Usiku Games
  • South Africa makes last-ditch move to save state airline
  • Ethiopia PM shoulld talk to media when collecting Peace Prize – Nobel committee
  • Full of promise? Refugees in Ethiopia impatient for right to work
  • Africa Oil – Nigeria kidnappings raise ship insurance jitters, offers ease
  • Sime Darby to sell Liberia plantation to local manufacturer – minister
  • Pirates kidnap 19 crew members from Greek tanker off Nigeria
  • Nigeria’s parliament passes record 10.59 trillion naira budget for 2020
  • Uber takes to streets of Ivory Coast in African expansion
  • South African rand stumbles on economic data
  • South Africa hit by power cuts as Eskom units break down
  • Half a million ebola vaccine doses to be stockpiled for emergency use
  • Kenya’s Safaricom tests new mobile savings service
  • Landslides in northwest Burundi kill at least 26 people
  • South African Airways to name business rescue practitioner soon
  • At least 58 dead after migrant boat sinks off Mauritanian coast
  • South Africa moves step closer to land expropriation without payments
  • Angola petroleum minister says he supports maintaining OPEC+ oil cuts
  • With memories of Rwanda: The Gambian minister taking on Suu Kyi
  • Measles toll in Congo exceeds 5,000, WHO says
  • Libya’s El Feel oilfield shut due to valve closure – NOC
  • Commercial International Bank Egypt seeks to buy small Kenyan bank
  • Almost half of land sold for first phase of Egypt’s new capital
  • Nigerian court orders security agency to release activist within 24 hours
  • Zimbabwe court appoints Mugabe daughter to identify his assets
  • Egypt to sell $1 bln in 1-yr dollar denominated t-bills on Dec. 9 – c.bank
  • South Africa business confidence improves in November
  • Sluggish demand for dollars supports Ugandan shilling
  • South Africa Q3 current account deficit narrows to 3.7% of GDP
  • Botswana’s Minergy puts UK listing plans on hold
  • OPEC and allies prepare to deepen oil output cuts
  • Kenya shilling firmer on scarce liquidity, remittances
  • Drought and economic woes empty Zimbabwe’s ‘cattle bank’
  • Uganda to borrow 600 mln euros to cover 2019/20 budget deficit
  • South African Airways in line for 4 bln rand boost to continue operating – minister

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.