macroafricaintel Daily Brief | 21 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares edge higher, pound stumbles on Brexit drama
  • Asian shares shake off early losses
  • Pound down after delay to a crucial vote on Brexit

Oil Markets

  • Oil prices dip on weak demand outlook, supply concerns
  • Brent down 0.2% at $59.32 a barrel (0108GMT)
  • WTI down 0.2% at $53.69

Precious metals

  • Gold holds steady above $1,490 on Brexit uncertainties
  • Spot gold up 0.1% at $1,490.60/oz. (0047GMT)
  • US gold futures little changed at $1,494.20/oz.

Grains

  • Chicago wheat drops 1% after rally; corn, soybeans down
  • Wheat futures down 1% at $5.27 per bushel (0051GMT)
  • Corn futures down 0.5% at $3.89-1/4 per bushel
  • Soy futures down 0.2% at $9.32 per bushel
  • Rice futures unchanged at $11.91 per hundredweight

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

  • Russia-Africa summit in Sochi; 23-25 Oct [Nigeria’s Buhari jets out today]
  • South Africa’s Ramaphosa speech at 60th anniversary of The African Communist seminar

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

  • South Africa President Ramaphosa: govt will soon announce Eskom CEO, stronger board
  • Sudan names commission to investigate killings at sit-in
  • Somalia aims to reduce poverty, pump up infrastructure after debt erased
  • Egypt to press for outside mediator in Ethiopia dam dispute
  • South Sudan’s Machar says unlikely to be part of unity govt by Nov. 12
  • Barrick Gold reaches deal with Tanzania over Acacia Mining
  • Shell Egypt to sell assets in Western Desert
  • Egypt’s Qalaa to raise production capacity to 5.5 mln tonnes/yr in 2021
  • Militants kill 5 in twin attacks on Burkina army outposts – army
  • IMF chief Georgieva says supports debt relief for Somalia
  • Egypt signs agreement with Euroclear to widen its domestic debt investors
  • Mozambique’s Nyusi takes election lead, opposition cries foul
  • Egypt unveils biggest ancient coffin find in over a century
  • Mali army says it killed 50 militants, freed soldiers in counter attack
  • Morocco forecasts stable 2020 fiscal deficit of 3.5%
  • Ebola concentrated in Congo mining area, still an emergency – WHO
  • Nigeria cenbank injects $325 mln, 14 mln yuan into currency market
  • African debt stabilising but region faces headwinds – IMF
  • South African power generation plan keeps coal in the mix
  • South Africa’s rand rides optimism over new power plan
  • Sudan, rebel groups agree on roadmap for peace talks
  • Angola FX market overhaul sees kwanza tumble to record lows
  • Africa Oil – Freight costs ease, especially for VLCCs
  • Namibia president set for re-election next month amid economic crisis
  • UN rights office urges Egypt to free blogger, lawyer, journalist
  • Egypt embassy in Lebanon calls on its nationals to avoid protest areas
  • South Africa looks to procure new power urgently to address outages
  • Egypt says strategic wheat reserves enough to cover its needs until February
  • Coal to play significant role in South Africa power mix – minister
  • Syrah Resources to cut jobs, output at Mozambique graphite project
  • South Africa set for third day of power cuts on generation shortfall
  • Angola hopes key reforms will aid efforts to sell oil assets

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

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