macroafricaintel Daily Brief | 25 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares, sterling falter as Brexit, growth anxiety sap confidence
  • MSCI Asia ex-Japan, Nikkei both barely lower
  • Investors await central bank decisions, key data
  • Sterling weaker after PM Johnson election call

Oil Markets

  • Oil retreats after 3-day rally on renewed demand, economic growth concerns
  • Brent down 0.5% at $61.37 a barrel (0122GMT)
  • WTI down 0.5% at $55.97

Precious metals

  • Gold hits 2-wk high as weak US data boosts rate-cut bets
  • Spot gold down slightly at $1,501.67/oz. (0117GMT)
  • US gold futures flat at $1,504.40/oz.

Grains

  • Soybeans tick higher; dismal Chinese demand check gains
  • Soybean futures up 0.1% at $9.34-1/2 per bushel (0203GMT)
  • Corn futures up 0.1% at $3.87-1/4 per bushel
  • Wheat futures up 0.2% at $5.17 a bushel

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
  • SADC solidarity with Zimbabwe against sanctions summit
  • Release of Botswana poll results continue
  • 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]

  • Egypt’s farmers tackle climate change with comedy and community
  • Asia Rice – Vietnam rates hit multi-month peak on robust demand from Africa, Cuba
  • Cameroon calls for freeze on Douala port contract over Bollore court case
  • South Africa grounds Air Zimbabwe jetliner over debt
  • Ethiopia activist calls for calm after 16 killed in clashes
  • South Africa’s rand, stocks drift weaker in quiet trade
  • Africa Oil – More Nigerian programmes emerge, point to lower volumes
  • Kenya’s Safaricom names Ndegwa as chief after 3-mth search
  • Market upbeat as Angola central bank lifts reserve ratio, drops FX fix
  • Africa FX – Kenyan shilling to strengthen, Nigeria naira to be stable
  • Egyptian pound strongest in more than two and a half years
  • Thousands in Guinea march against president’s possible third term bid
  • Nigerian state oil firm signs memorandum to work with Russia’s Lukoil
  • Libyan schools shut as teachers on swollen payroll demand better wages
  • Egypt, Ethiopia agree to resume technical assistance discussion on Grand Renaissance
  • 40 of 46 grounded South African planes back in air
  • Eni buys 70% of Edison stake in Egypt’s Habi offshore gas concession – EGAS official
  • South African opposition in crisis as ex-leader quits as MP
  • Hundreds gather outside house of Ethiopian activist after deadly day of protests
  • Ugandan shilling unchanged, expected to ease due to importer demand
  • Zimbabwe to cut power to mines, others over $77 mln in unpaid bills
  • Kenyan shilling strengthens on offshore investor inflows, tight liquidity
  • South Africa’s Clicks annual earnings rise on solid retail sales
  • Russia lands nuclear bombers in Africa as Putin hosts continent’s leaders
  • Russia signs deal to supply Nigeria with 12 attack helicopters – RIA
  • Kenya’s Mombasa port to upgrade four berths at 20 bln shillings

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

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