macroafricaintel Daily Brief | 13 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian stocks see brighter world as trade, UK clouds lift
  • Pound surges as exit polls show Tories with majority
  • [Labour’s Corbyn to quit before next election, after poor polls]
  • Nikkei highest since Oct 2018 on reports of Sino-US trade deal
  • Markets scale back risk of rate cuts around the world
  • Safe-haven bonds, yen fall away

Oil Markets

  • Oil prices hit highest in 3 mths as US-China trade deal takes shape
  • Brent up 0.8% at $64.68 a barrel (0221GMT)
  • WTI up 0.6% at $59.54

Precious metals

  • Gold prices slip as trade euphoria lifts risk appetite
  • Spot gold down 0.2% at $1,466.35/oz. (0051GMT)
  • US gold futures down 0.2% at $1,469.60/oz.

Grains

  • Soybeans jump 1% , set for biggest weekly gain in over 2 months
  • Soybean futures up more than 2% for the week; hit high of $9.14-1/2
  • Corn futures up over 1% for the week; hit high of $3.84 a bushel
  • Wheat futures up more than 1% for the week

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

  • Ghana’s Akufo-Addo press conference
  • Preliminary results of Algeria’s presidential poll expected
  • South Africa’s EFF 2nd national people’s assembly; 13-16 Dec

Key African events or data releases yesterday & early a.m today

  • Algerians protest through day of disputed election
  • Libyan commander urges forces to advance towards central Tripoli
  • Namibia rushes to drill boreholes as worst drought in a century bites
  • Voting ends in disputed Algerian election
  • Head of Libya parliament says Turkey-Libyan deal invalid
  • West African court voids Sierra Leone’s ban on pregnant schoolgirls
  • Wintershall to carry out Sirte exploration in Libya at own cost – NOC
  • US threatens visa restrictions over South Sudan peace process
  • Africa Oil – Freight rise set to bite in February but diffs still high
  • South African rand climbs to 6-week best as flat Fed overshadows local data
  • IMF deal lifts Ethiopia bonds as currency slides to record low
  • Turnout in Algeria election 20% at 3pm – official
  • South Africa’s MTN to defend views on data prices if referred to competition tribunal – CEO
  • Most African currencies seen firm; in week ahead
  • Women want in as internet revolution creeps into Chad
  • IMF preliminary deal lifts Ethiopia dollar bonds to near 2-yr high
  • Flights resume at Libya’s Mitiga airport in Tripoli
  • Famine stalks millions in South Sudan after droughts, floods – UN
  • Zambia’s power supply deficit worsens as water levels sink
  • Egypt’s strongman extends crackdown to a new foe: soap operas
  • Ivory Coast farmers push back against cocoa output cap
  • Rwanda GDP growth rises to 11.9% y/y in Q3 2019
  • Hundreds protest in central Algiers against disputed election
  • Turkey sends Libya maritime accord to UN for approval – source
  • Vitol signs 10-yr deal to buy Nigeria’s LNG from 2021
  • Ugandan shilling firmer on central bank liquidity mop-up
  • South African power cuts set to continue as some Eskom units still down
  • Uganda’s Umeme power company gets $70 mln loan for national grid expansion

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

 

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