macroafricaintel Daily Brief | 27 Nov

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares climb on prospects of trade progress, low rates
  • MSCI Asia ex-Japan +0.14%
  • S&P 500, Dow Jones, Nasdaq finish at record closing highs
  • Trade headlines offset soft US data

Oil Markets

  • Oil dips after US stock build; US-China deal hopes support
  • Brent down 0.3% at $64.08 a barrel (0145GMT)
  • WTI down 0.3% at $58.24

Precious metals

  • Gold eases as Trump’s remarks boost trade deal hopes
  • Spot gold down 0.1% at $1,459.91/oz. (0103GMT)
  • US gold futures unchanged at $1,460.60/oz.

Grains

  • US soybeans tick up after deep losses, South American competition caps gains
  • Wheat futures up 0.1% at $5.31-1/2 per bushel (0141GMT)
  • Corn futures up 0.1% at $3.67-3/4 per bushel
  • Soy futures up 0.3% at $8.86-1/2 per bushel
  • Rice futures nearly unchanged at $12.24 per hundredweight

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

  • Kenya’s “BBI” constitutional reforms report launch by Kenyatta et al.
  • Namibia general elections
  • Bank of Mauritius interest rate decision [fcst. 3.25%, prev. 3.35%]
  • South Africa’s Ramaphosa working visit to Lesotho
  • South Africa business confidence Q4 2019 [prev. 21]
  • 2019 Euroliberian film festival in Monrovia
  • Global gender summit in Kigali; 25-27 Nov
  • South Africa state capture inquiry continues

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

  • Pompeo urges Egypt to respect freedom of press after journalist detentions
  • Egypt launches first communication satellite – cabinet
  • South Africa’s power sector reform timeline “optimistic” – S&P
  • Tunisia’s state airline to axe 400 jobs in cost-cutting plan
  • Zambia’s KCM smelter set to restart after 2-wk delay – minister
  • Zimbabwe senior doctors stop work as public hospital strike spreads
  • French troops pursuing Mali militants killed in helicopter collision
  • Africa Oil – Total sells Dalia, more Nigerian programmes appear
  • Floods kill at least 39 in Congo’s capital Kinshasa
  • South African rand steady, focus on US-China talks
  • Nigeria holds rates after border closures spur inflation
  • Energy-short South Sudan powers up – but with fossil fuels
  • Nigeria’s central bank holds benchmark interest rate at 13.5%
  • Glencore’s Mutanda mine in Congo shuts a month early
  • Kenyan lenders to shun “wild west banditry”, central banker says
  • WHO, UNICEF evacuate 76 staff from ebola teams in Congo due to insecurity
  • Egypt to sell land to help restructure state companies
  • Kenya shilling weakens on end month demand
  • French Mali troops died after ‘Tigre’ and ‘Cougar’ helicopters collided
  • Ugandan shilling unchanged amid inflows from exporters
  • Tanzania secures $1 bln syndicated loan from TDB bank for infrastructure
  • Egypt to sell 22%-25% of Heliopolis shares in Q1, minister says
  • Botswana opposition challenges election result in court
  • South Africa’s Omnia Holdings swings into interim profit
  • US officials meet with Libya’s Haftar amid push to end Tripoli offensive

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

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