macroafricaintel Daily Brief | 14 Feb

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

Global Markets

  • Asian shares tick up, aim for 2nd week of gains amid virus scare
  • Ex-Japan Asian shares up 0.3%, Nikkei loses 0.5%
  • Hopes of govt stimulus support shares
  • Dollar hits 4-mth high as investors flee to US assets
  • Euro hits 3-yr low ahead of euro zone GDP

Oil Markets

  • Oil prices steady but set for weekly gain on supply cut optimism
  • Brent down 9 cents at $56.25 a barrel (0234GMT)
  • WTI down 1 cent at $51.41

Precious metals

  • Gold eases as equities edge up, virus concerns cap losses
  • Gold set to gain 0.3% for the week
  • Spot gold down 0.1% at $1,574.69/oz. (0427GMT)
  • US gold futures down 0.1% at $1,577.80/oz.


  • Soybeans on course for biggest weekly gain in nearly 2 mths
  • Soybean futures up 1.5% for the week
  • Corn futures down 1% so far this week
  • Wheat futures down 2.5% for the week

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

  • US Secretary of State Pompeo visits Senegal; 15-16 Feb
  • Ethiopia’s Abiy visits UAE
  • EFF’s Malema addresses Press Club of South Africa
  • Guinea’s Conde in Saudi Arabia; parliamentary elections on 16 Feb
  • 18th African fine coffees conference & exhibition in Mombasa, Kenya; 12-14 Feb

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

  • Woodside holds on to stake in Senegal oil field as FAR challenge fails
  • Nigeria’s military razed villages in war on insurgents – Amnesty International
  • ‘Ghost’ ancestors: African DNA study detects mysterious human species
  • IMF, World Bank move pushes Somalia closer to debt forgiveness
  • South Africa must fix its public finances, Ramaphosa says
  • South Africa plans summit to finalise continental free trade agreement
  • South Africa’s Ramaphosa says restructured SAA should not be dependent on bailouts
  • South Africa says will establish sovereign wealth fund
  • South Africa to procure additional renewable energy to ease shortages – Ramaphosa
  • South Africa’s Ramaphosa says economic recovery has stalled due to power shortages
  • Africa Oil – Sonangol sells last spot cargo
  • Mali troops return to key northern city after 6-yr absence
  • Nigeria grants FX access for milk imports to 6 mostly foreign firms
  • Nigeria’s oil output could fall 35% without reforms – Wood Mackenzie
  • Libya reopens Tripoli’s Mitiga airport after hours of closure
  • South African rand slides, stocks dip ahead of Ramaphosa speech
  • Nigeria offers longer-term naira contracts to lure investors, shore up FX
  • Mozambique’s economy grew 2.03% in Q4 – statistics office
  • Sudan inflation jumps to 64.3% in January
  • In further bid to silence media, Somalia harassing journalists online – Amnesty
  • South African state airline SA Express under bankruptcy protection
  • Egypty approves first gold mining licence in more than a decade
  • Ethiopia passes law imposing jail terms for internet posts that stir unrest
  • Nigeria central bank offers 5-yr naira futures contract for first time
  • Africa FX – Kenyan shilling to weaken, Uganda’s to be stable
  • South Africa’s Eskom to spend up to $27 mln on severance packages
  • Thousands of Cameroonians flee to Nigeria as violence flares
  • South African airline Comair expects first half loss due to MAX grounding
  • Sudan agrees to compensate families of USS cole victims – state news agency
  • Uganda’s benchmark lending rate on hold at 9.0% for a second time
  • Blast shuts oil pipeline feeding Nigeria’s Brass oil exports – officials
  • Nigeria’s Green Africa Airways signs initial agreement for 50 Airbus A220-300s
  • Mali architect fights climate change with digital greenhouse
  • Libya’s NOC oil output at 191,475 bpd as of Feb. 12
  • South Africa’s Tongaat in talks to sell starch business

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

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