macroafricaintel Daily Brief | 28 Oct

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares rise to 3-mth highs, dollar awaits for Fed
  • MSCI ex-Japan rises for a third straight day
  • Japan’s Nikkei hits decade high
  • Share sentiment boosted by trade talks, earnings
  • Eyes on US Fed rate decision, Brexit developments

Oil Markets

  • Oil holds steady as Russia reaffirms commitment to outupt cuts
  • Brent down 1 cent at $62.01 a barrel (0055GMT)
  • WTI down 4 cents at $56.62

Precious metals

  • Gold steady as Sino-U.S trade tensions ease
  • Spot gold steady at $1,504.60/oz. (0059GMT)
  • US gold futures up 0.1% at $1,507.40/oz.

Grains

  • Soybeans rebound from 2-wk low, US harvest caps gains
  • Wheat futures down 0.5% at $5.15-1/4 per bushel (0016GMT)
  • Corn futures down 0.1% at $3.86-1/4 per bushel
  • Soy futures up 0.4% at $9.23-3/4 per bushel
  • Rice futures down 0.1% at $12.04 per hundredweight

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

  • Nigeria’s Buhari heads to Saudi Arabia for 3rd Future Investment Initiative
  • South Africa state capture inquiry resumes
  • Guinea’s Conde & Equatorial Guinea’s Obiang in Turkey

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

  • Mozambique’s Nyusi retains power after sweeping victory in disputed poll
  • Saudi dips on weak earnings; proper shares aid Egypt
  • President Filipe Nyusi wins 73% of vote in election – election commission
  • Tanzania Q2 GDP growth rises to 7.2% v 6.1% – statistics bureau
  • Booker Prize winner Evaristo hopes to build ties with African and British readers
  • Violence during Ethiopian protests was ethnically tinged, say eyewitnesses
  • Tanzania state carrier aims to double fleet to 14 planes by 2022: official
  • US imposes sanctions on Zimbabwe’s state security minister
  • Nigeria has no plans to go to international debt market this year
  • Moroccan activist on hunger strike admitted to prison clinic – lawyer, family say
  • Russia affirms close oil cooperation with Saudi Arabia, OPEC+
  • Prominent activist won’t rule out election challenge to Ethiopia PM
  • 67 people killed in protests in Ethiopia’s Oromiya region – police
  • South Africa’s rand firmer as investors await next week’s budget
  • Libya’s NOC September revenues slip to $1.8 bln vs August
  • Zimbabwe’s president says Western sanctions a “cancer” eating at economy
  • Africa Oil – Oil volumes eastward steady for October amid freight crunch
  • From Ethiopia to Australia, the promises and pitfalls of tourism for good
  • Somalia says Shell, Exxon agree to pay $1.7 mln for oil blocks lease
  • Egypt reopens Alexandria and Dekheila ports after closure for bad weather
  • Morocco arrests 6 suspected jihadists – police spokesman
  • Botswana’s Masisi retains presidency as BDP wins election
  • Japan’s Univergy to invest $200 mln in Zambia solar power
  • Uganda shilling a notch stronger on slowing demand by banks, importers
  • CAR considers hosting Russian military base – RIA
  • Botswana’s ruling party BDP wins general election – Chief Justice
  • Egypt’s farmers tackle climate change with comedy and community

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

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