macroafricaintel Daily Brief | 3 Feb

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

  • Asian shares drop, commodities sink on virus fears after Lunar New Year break
  • Australian, NZ shares fall; oil slides, gold firm
  • Coronavirus death toll in China rises to 361
  • China c.bank injects $174 bln of liquidity on Monday
  • Economies lower growth forecasts for Chinese economy

Oil Markets

  • Oil extends decline as virus hits China demand
  • Brent down 48 cents at $56.14 a barrel (0241GMT)
  • WTI down 24 cents at $51.32

Precious metals

  • Gold falls from 4-wk high on China liquidity measures, stronger dollar
  • Spot gold down 0.4% at $1,582.82/oz. (0145GMT)
  • US gold futures up 0.1% at $1,588.80/oz.

Grains

  • Soybeans edge higher after hitting 2-mth low amid virus scare
  • Soybean futures up 0.2% at $8.74-1/2 a bushel (0207GMT)
  • Corn futures down 0.3% at $3.80-1/4 a bushel
  • Wheat futures down 0.9% at $5.48-3/4 a bushel

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

  • 5th Nigeria – US binational commission in Washington DC; 3-4 Feb
  • Investing in African mining indaba in Cape Town; 3-6 Feb
  • Kenya’s Kenyatta heads to Washington DC for trade talks
  • South Africa ABSA manufacturing PMI Jan-20 [prev. 47.1]
  • Malawi’s consititutional court to rule on presidential election petition
  • Uganda’s Museveni, Rwanda’s Kagame, DRC’s Tshisekedi meet Angola’s Lourenco in Luanda (2 Feb)

Key African events or data releases over the weekend & early a.m today

  • Foreign ministers to meet on Libya in mid-March – Germany’s Maas
  • Regulator slaps $375 mln antitrust fine on Maroc Telecom – reports
  • Head of Sudan’s sovereign council invited to visit Washington
  • UAE allocates $2 bln to Mauritania projects – state news agency WAM
  • At least 20 people killed in stampede at church service in Tanzania
  • French defence ministry to send 600 more troops to Africa’s Sahel
  • Eritrea blasts US visa ban, Nigeria creates committee to address issues
  • Militants kill dozens in east Congo as attacks on civilians intensify
  • Kidnapping of students sparks anti-govt protests in Ethiopia
  • Tanzania says has not been officially notified about US travel ban
  • Egypt sentences officer-turned-militant and 36 others to death
  • Oil majors request more Mozambique troops after [militant] attacks – sources
  • Tunisian banks lend govt about $500 mln
  • Egypt, Ethiopia, Sudan say final agreement on Blue Nile dam ready by next month
  • Egypt detains doctor, parents as girl dies after genital cutting
  • South African logistics group Transnet appoints ex-govt official as CEO
  • Med crude – Urals differentials surge supported by Libyan oil outage
  • Maltreated tigers and lions, rescued from Guatemala circuses, arrive in South Africa
  • Africa Oil – Bonny Light force majeure lifted, Angolan diffs tumble
  • ‘Regulate-Us-Not Kill Us”: Lagos motorcycle taxi drivers march against ban
  • Ugandan medics deploy AI to stop women dying after childbirth
  • African youth activists warn of ‘great danger’ from climate chaos
  • South Africa’s rand tumbles to 11-wk low as coronavirus, power cuts weigh
  • Court orders safeguards for Kenyan digitial IDs, bans DNA collecting
  • Egypt’s population nears 100 mln, putting pressure on resources and jobs
  • Shell Nigerian unit lifts force majeure on Bonny Light crude exports
  • Tunisian PM-designate vows to cut subsidies
  • Chief of South Africa’s Eskom appointing boards for planned breakup
  • Kenyan firm sells gas to low income families, replacing dirty fuels
  • Kenya says to start free trade talks with US next week
  • Kenya’s inflation at 5.78% y/y in January
  • Nigerian court issues warrant for [former] oil minister Etete’s in $1.3 bln oil deal
  • East African airlines suspend China flights due to coronavirus
  • South Africa’s Eskom seeks to drive harder bargain on funding costs – CEO
  • In Senegal, online videos break silence over domestic abuse
  • Kenyan shilling firms against the dollar
  • South Africa’s Eskom CEO appoints board for planned division into 3 units
  • Africa-focused Tullow’s largest investor raises stake again
  • “Me Too” Nigeria style: women opt for martial arts over marches
  • South Africa’s rand marks time as China virus, power cuts weigh
  • RwandAir suspends flights to China amid the coronavirus outbreak
  • South Africa’s Tongaat posts smaller interim loss
  • South Africa’s Sasol sees lower H1 earnings after Lake Charles unit fire
  • Kenya Airways suspends all flights to China amid coronavirus outbreak

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

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