macroafricaintel Daily Brief | 14 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asia relieved at latest trade truce, China data disappoints
  • Nikkei futures rise, trade thin with Tokyo on holiday
  • Shares up on relief at Sino-US trade progress
  • But caution as China export, import data disappoint
  • Sterling rally pauses as EU summit looms over Brexit

Oil Markets

  • Oil prices edge up, supported by Iran ship attack, US-China trade détente
  • Prices rise 2% on Friday after Iran tanker attack
  • Traders eye US-China pact, details of phase 1 agreement
  • Brent up 9 cents at $60.60 a barrel (0008GMT)
  • WTI up 9 cents at $54.79

Precious metals

  • Gold slips as renewed trade optimism lifts risk appetite
  • Spot gold down 0.3% at $1,485.56/oz. (0036GMT)
  • US gold futures up 0.1% at $1,489.90/oz.

Grains

  • Soybeans climb to 16-mth high on US-China trade optimism
  • Wheat futures up 0.6% at $5.11 per bushel (0058GMT)
  • Corn futures up 0.7% at $4.00-1/2 per bushel
  • Soy futures up 0.9% at $9.44-3/4 per bushel
  • Rice futures down 0.2% at $12.04 per hundredweight

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

  • South Africa’s Ramaphosa to deliver keynote opening speech at FT Africa summit in London
  • Nigeria inflation Sep-19 [fcst. 11.1% yy, prev. 11.0%]
  • South Africa’s Zuma graft trial tomorrow; 15 Oct

Key African events or data releases over the weekend & early a.m today
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • Supporters of Tunisia’s Saied celebrate his projected presidential win
  • Algeria plans wealth, property tax for first time
  • Second exit poll gives Kais Saied landslide win in Tunisian election
  • Hundreds of Algerians protest against proposed energy law
  • Voting ends in Tunisian presidential election runoff
  • Mortar bombs strike Somalia’s Mogadishu airport, 6 injured – source
  • Soccer – Neymar injured as Brazil draw 1-1 with Nigeria in friendly
  • Leaders of Egypt and Ethiopia to meet on Nile dam standoff – Sisi
  • Congo to start using J&J ebola vaccine in November
  • Egypt cuts stocks exchange fees in bid to boost investments
  • Foreign election monitors concerned by detention of Tunisian candidate
  • At least 10 Kenyan police killed by bomb near Somali border – police
  • A son and father reunited, like many under Nobel winner Abiy’s Ethiopia-Eritrea peace deal
  • Gunmen kill about 15 people in attack on Burkina Faso mosque
  • Zimbabwe court rules doctors strike illegal, should return to work
  • Guinea’s Nimba iron ore project gets green light to export via Liberia
  • Cargo plane crashes in Congo with presidential staff on board
  • Burkinabes flee their homes en masse as violence spirals – UN
  • Morocco’s BCP bank buys Congo’s BCI bank
  • South Africa’s rand races to 3-wk high on easing trade war, Brexit tensions
  • Moroccan king urges more loans for graduates and entrepreneurs
  • Africa Oil – Nigerian crude diffs crash as freight rates bite
  • Gabon’s GDP growth to rise to 3.4% this year – IMF
  • Go home, Tanzanian president tells Burundian refugees
  • Nigerian president calls for stricter laws on sex abuse
  • Mozambique’s elections to test fragile peace
  • Nigeria looks to sign military cooperation deal with Russia this month
  • US imposes sanctions on 2 South Sudanese businessmen for fraud, bribery
  • Algeria’s protesters march against ruling elite as elections approach
  • Ethiopia’s Abiy wins Nobel Peace Prize for resolving conflict with Eritrea
  • Lawyer for imprisoned Tanzanian journalist seeks plea bargain
  • Ivory Coast cocoa grind up 8.3% to end-September – exporter stats
  • Uber launches boat service in Nigeria’s megacity Lagos
  • Uganda shilling weakens as rate cut spurs banks to beef up positions
  • South Africa’s Zuma to face corruption trial
  • Ethiopian PM ‘humbled, thrilled’ with Nobel Peace Prize
  • Starkly different candidates vie for Tunisia’s presidency
  • Eni plans to quadruple gasoline output at Angolan refinery by 2021
  • Ethiopia Nobel Peace Prize winner ruffles feathers at home
  • Ethiopia “proud as a nation” over Nobel Peace Prize – PM Abiy’s office
  • Vast Resources to sign diamonds joint venture deal in Zimbabwe
  • Nigeria’s state oil company signs $2.5 bln pre-payment deal for gas projects
  • South African arms company Denel winds up Aerostructures
  • South Africa’s Zuma to face corruption trial after court denies stay of prosecution
  • South Africa’s Eskom challenges latest power tariff decision in court
  • Hopes around US-China trade talks bolster South African rand
  • Kenya farmers snap crops with phones to improve insurance payouts
  • Conflicting signals over Royal Air Maroc 737 MAX plans

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

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