macroafricaintel Daily Brief | 2 Feb

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

Global Markets
• Asian markets extend gains as sentiment improves on outlook
• All eyes on Alphabet’s first-ever disclosure of Google Cloud profit
• US housing market immune to covid-19 pandemic: Reuters poll
• Oil prices rise as producers commit to output restraint
• Brent up 0.9% at $56.86, WTI up 1% at $54.08 (0134GMT)
• Silver slips from 8-yr peak as investors book profits; spot down 1.7% to $28.48 (0039GMT)
• Spot gold down 0.2% at $1,856.86/oz., futures down 0.3% at $1,858.60/oz.

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• 2021 Investing in African Mining Indaba (virtual; 2-3 Feb)
• South Africa state capture inquiry continues
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• UK-Africa fintech summit (virtual; 3-4 Feb)
• Africa PMIs Jan-21 (3 Feb)
• South Africa FX reserves Jan-21 [prev. $55.0B] (5 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• UK detects South Africa coronavirus variant in people with no travel links
• Nigeria expects 41 mln covid-19 vaccine doses from AU
• South Africa’s Denel reports $130 mln loss in 2019/20
• South Africa gets first vaccine doses, bringing relief to health workers
• South Africa mining fatalities rise 18% in 2020 – industry body
• Uganda opposition leader Bobi Wine challenges election result in court
• Ethiopia extends bid times for new telecom licences by a month
• Algeria says it has discussed with Russia producing Moscow’s Sputnik V vaccine

Bloomberg
• Rhino poaching in South Africa falls for 6th consecutive year
• South Africa’s Eskom, Sasol rebuffed, Creecy says as she fights pollution suit
• South Africa secures additional vaccines, eases alcohol ban
• 20,000 refugees missing after Ethiopia camps destroyed, UN says
• OPEC planned output increase is offset by Africa disruptions
• Kenya flower growers need freight capacity for valentine’s day
• UK boosts tests to curb spread of South Africa variant
• Nigeria’s commercial hub begins clinical trial of anti-parasitic Ivermectin
• Ethiopia may engage private creditors after debt review
• Seplat raises $260 mln to complete key Nigeria gas project
• West Africa’s oil exports slump as Nigeria, Angola flows falter
• South Africa set to lift latest ban on alcohol sales as covid infections fall
• Uganda opposition leader Bobi Wine files lawsuit challenging election outcome
• Zuma shuns South Africa graft inquiry in defiance of court order

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

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