macroafricaintel Daily Brief | 18 Feb

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

Global Markets

  • Stocks fall after Apple warns on coronavirus impact
  • Apples says will not meet revenue target for Jan-March
  • S&P 500 futures down 0.3%, mainland China shares lose 0.2%
  • Australian dollar falls; gold, US bonds gain

Oil Markets

  • Oil prices slip as coronavirus concerns linger
  • Brent down 0.6% at $57.30 a barrel (0126GMT)
  • WTI down 0.3% at $51.90

Precious metals

  • Gold rises on mounting business impact from virus outbreak
  • Spot gold up 0.4% at $1,586.32/oz. (0246GMT)
  • US gold futures up 0.2% at $1,589.30/oz.

Grains

  • Wheat climbs more than 1.5% to hit 18-day high
  • Wheat futures up 1.5% at $5.50-1/2 a bushel (0115GMT)
  • Soybean futures down 0.4% at $8.90-1/4 a bushel
  • Corn futures up 0.2% at $3.78-1/2 a bushel

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

  • South Africa’s parliament to debate Ramaphosa State of the Nation Address; 18-19 Feb
  • US Secretary of State Pompeo tours Africa (Senegal, Angola & Ethiopia); 16-19 Feb
  • Nigeria inflation Jan-20 [fcst. 12.1% yy, prev. 12.0%]
  • Bank of Zambia MPC meeting; 17-18 Feb [fcst. 11.5% , prev. 11.5%]
  • South Africa state capture inquiry continues

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

  • Nigeria’s state oil company & partners spent $360 mln on Delta cleanup – NNPC
  • Libya’s NOC oil production at 135,745 bpd as of Monday
  • Libya’s rival factions dig in for long conflict
  • At least 23 killed in Niger aid stampede – officials
  • ICC trial in The Hague one option for Sudan’s Bashir – minister
  • Tunisia president to call early poll if govt loses vote of confidence
  • Africa Oil – Teapots return to buy cheap barrels; programmes awaited
  • EU agrees new Libya sea patrols after Austria lifts veto
  • South African rand falls as Moody’s cuts growth forecast, stocks firm
  • Armed men in military fatigues kill 22 in Cameroon village
  • As South Sudan deadline to form unit govt looms, soldiers and rebels hastily gather
  • Pompeo blasts corruption, promotes US business in Africa trip
  • Ethiopia approves supplementary budget of 27.89 billion birr
  • Popular Rwandan singer found dead in police cell – officials
  • Moody’s cuts South Africa’s 2020 GDP growth forecast to 0.7%
  • Gunmen kill 24 in attack on Burkina Faso church
  • Italy’s foreign minister Di Maio says EU agreed mission to block arms supply in Libya
  • Egypt pursues criminal investigation into Egyptian academic studying in Italy
  • Equatorial Guinea argues luxury Paris mansion was part of embassy when raided
  • Ivory Coast to issue domestic bonds worth $184 mln
  • Ivory Coast 2019/20 cocoa arrivals reached 1.474 mln T by Feb. 16 – exporters
  • Zimbabwe central bank leaves rates unchanged, bullish on inflation
  • Burning tyres and sore feet: Lagos bristles under bike ban
  • South Africa lifts foot-and-mouth auction ban – farm minister
  • South African rand firmer as China rate cut soothes virus anxiety
  • Kenyan farmers find sweet spot with nutritious, drought-hardy crop

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

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