macroafricaintel Daily Brief | 24 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia stocks drift lower as holiday lull counters trade cheer
  • Volumes in Asia expected to be low before holidays
  • Trade deal lifted Wall Street to record closing high
  • Hope for monetary easing lifts China shares

Oil Markets

  • Oil prices inch higher amid support for supply cuts, lower inventory forecast
  • Brent up 7 cents at $66.46 a barrel (0105GMT)
  • WTI up 4 cents at $60.56

Precious metals

  • Gold holds ground on weak US data, trade deal concerns
  • Spot gold unchanged at $1,485.20/oz. (0047GMT)
  • US gold futures flat at $1,489.20/oz.

Grains

  • US grains rangebound ahead of holiday, trade deal hopes
  • Wheat futures up 0.2% at $5.40-1/2 a bushel (0150GMT)
  • Soybeans futures down 0.1% at $9.32-3/4 a bushel
  • Corn futures down 0.1% at $3.88-1/2 a bushel

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

  • Ivory Coast issues arrest warrant for presidential candidate Soro
  • US halts sending bomb-sniffing dogs to Jordan, Egypt as 7 die
  • Israel opposes Turkey-Libya maritime border accord
  • Oil steadies as Russia touts easing OPEC+ output
  • Tunisia PM-designate says to form govt of ‘independents’
  • Congo prosecutors probe Israeli billionaire’s loan to state mining company
  • Pro-govt group attacks rally demanding release of “illegally” held Nigerians
  • Algeria’s powerful army chief dies at pivotal point in political crisis
  • South Africa’s rand firms on US-China trade deal optimism
  • Nigeria’s IHS Towers buys Brazilian telecoms infrastructure company CCS for undisclosed amount
  • AngloGold Ashanti and IAMGOLD to sell stake in Mali mine
  • Weak economy cuts number of South African companies paying tax
  • Algeria’s president appoints General Said Chengriha as acting army chief
  • Ankara and Moscow to discuss Syrian migrants, Libya conflict
  • Uganda shilling unchanged amid thin trading volumes
  • APICORP agrees $250 mln loans with Algeria’s Sonatrach subsidiary
  • After Ethiopia crash, victims’ relatives say they were hounded by US law firms

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

 

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