macroafricaintel Daily Brief | 24 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares edge up as earnings, geopolitics sway sentiment
  • Nikkei at 1-yr high
  • Tesla shares jump 21%, Microsoft gains too
  • Investors ignore earnings miss from Caterpiller, Boeing
  • Brexit developments still in focus

Oil Markets

  • Oil pares US stock-draw gains on weak demand outlook
  • Brent down 0.6% at $60.78 a barrel (0111GMT)
  • WTI down 0.8% at $55.51

Precious metals

  • Gold steady as investors await Brexit clarity, Fed meeting
  • Spot gold unchanged at $1,491.83/oz. (0129GMT)
  • US gold futures flat at $1,494.60/oz.

Grains

  • Wheat up for 2nd session on strong demand, tightening supplies
  • Wheat futures up 0.2% at $5.21-3/4 per bushel (0042GMT)
  • Corn futures up 0.3% at $3.88-3/4 per bushel
  • Soy futures up 0.1% at $9.34-1/2 per bushel
  • Rice futures down 0.1% at $11.66 per hundredweight

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

  • Kenya Building Bridges Initiative (BBI) constitutional reforms report to be submitted to Kenyatta & Odinga
  • Vote counting of Botswana polls start; Khama-backed UDC already crying foul
  • Russia-Africa summit in Sochi; 23-24 Oct
  • UN under-SG & humanitarian chief Mark Lowcock in Nigeria; 23-24 Oct
  • Mozambique election results awaited; Nyusi expected to win

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

  • Russia’s VEB signs deal to build 2 bln euro refinery in Morocco – report
  • Leader of South Africa’s main opposition party resigns
  • Protests spreade after stand-off at Ethiopian activist’s home
  • Ghana loses $190 mln US grant over cancelled power contract
  • South African rand weaker after lower inflation reading
  • “A better life somewhere else”: Europe-bound African migrants wait in Rwanda
  • African slum map exposes true scale of urban poverty
  • Africa Oil – Spot activity muted as traders weigh up programmes
  • Russia lands nuclear bombers in Africa as Putin host continent’s leaders
  • UK’s Gemcorp, Russia’s Sberbank, VEB team up for Africa trade finance
  • Peacebuilding in Somalia – another victim of climate change?
  • Ethiopia sees rise in businesses doing good as economy opens up
  • Russia signs deal to supply Niger with 12 attack helicopters – RIA
  • South African Airways, Comair return planes to service after safety audit
  • Green groups ask French court to order Total to disclose environmental steps in Uganda
  • Property shares weigh on Egypt; other Gulf markets mixed
  • Russia’s VTB looking to sell 10% of its Angolan unit
  • Sudan upbeat on prospects for removal from US terrorism list
  • Ethiopian residents in city of Adama report sounds of gunshots following protests
  • Botswana votes in first real challenge to ruling party
  • Green bond issuances surpasses $200 bln so far this year
  • Uganda shilling weakens on surge in banks’ demand
  • Stand-off at Ethiopian activist’s home amid tensions with PM – Reuters witness
  • Disease fighters to mark partial victory in polio eradication battle
  • Russia’s VTB, Mozambique president discuss debt restructure
  • South African Airways, Comair return grounded planes to service
  • Kenya shilling strengthens, helped by govt bond buyers
  • South Africa consumer inflation slows to 4.1% y/y in Sept
  • Burundi security forces kill 14 armed men plotting attack
  • Egypt accepts invitation to meet in US over Ethiopia dam dispute

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

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