macroafricaintel Daily Brief | 11 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares give up gains as HK chaos hits sentiment
  • Focus on US-China trade talks
  • Gold near 3-mth lows

Oil Markets

  • Oil slips on jitters over US-China trade talks progress
  • Brent down 0.6% at $62.12 a barrel (0117GMT)
  • WTI down 0.6% at $56.89

Precious metals

  • Gold inches up on concerns over trade deal, disappointing China data
  • Spot gold up 0.3% at $1,462.46/oz. (0110GMT)
  • US gold futures flat at $1,463.30/oz.

Grains

  • Corn falls on stronger dollar, USDA estimate caps losses
  • Corn futures down 0.5% at $3.75-1/4 a bushel (0116GMT)
  • Soybean futures down 0.4% at $9.27-3/4 a bushel
  • Wheat futures down 0.5% at $5.07-1/2 per bushel

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

  • 2019 Africa investment forum by AfDB et al. in Johannesburg; 11-13 Nov

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

  • Congo army kills leader of splinter Hutu militia group
  • Malta had deal with Libya coastguard over migrant interceptions – report
  • QP says Egyptian Refining Company Refinery now operating, to reach full production Q1 2020
  • Congolese forces kill 25 Islamist rebels in eastern offensive – army
  • Egypt’s annual urban consumer price inflation falls to 3.1% in October
  • ‘So many dead’: Survivors describe terrifying Burkina Faso ambush
  • Guinea-Bissau newly appointed PM resigns under pressure from ECOWAS
  • Tunisia’s moderate Islamist party may choose outside candidate as PM
  • Morocco’s Attijariwafa bank gets $5 bln from China’s Exim for Africa export fund
  • Mauritius elects incumbent PM for 5-yr term
  • Africa Oil – Flurry of spot cargoes sell as new IMO rules loom
  • Zimbabwe fires 211 striking doctors as economy worsens
  • South Africa power cuts hurt rand as they put economy under more pressure
  • Zimbabwe suspends South African livestock imports after foot and mouth outbreak
  • Libya’s NOC boosts production capacity at Nafoora oil field
  • Kenya passes data protection law crucial for tech investments
  • Nigeria’s Dangote enters Togo with fertiliser and cement deals
  • Vodacom Tanzania’s H1 core earnings rise on M-Pesa, data revenue
  • No apologies: Africans say their need for oil cash outweighs climate concerns
  • Mauritius starts counting votes after parliamentary election
  • Kenyan shilling firmer on offshore investor inflows
  • South Africa’s Steinhoff says could issue shares to help settle lawsuits
  • South Africa’s Tiger Brands looking at sale of processed meats business
  • Power cuts hit South Africa’s rand
  • South Africa’s Gold Fields maintains annual production outlook
  • Africa must quadruple power investment to supply electricity for all, IEA says

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

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