macroafricaintel Daily Brief | 2 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Stocks tick up on upbeat China factory reports, trade talk hopes
  • Investors cling to hopes of eventual compromise
  • China private manufacturing PMI surprisingly strong
  • Yen softens on stimulus, pound slips on opinion polls

Oil Markets

  • Oil jumps on Chinese factory growth, hopes for deeper OPEC cuts
  • Brent up 1.2% at $61.23 a barrel (0157GMT)
  • WTI up 1.6% at $56.03

Precious metals

  • Gold dips on upbeat dollar, positive China data
  • Spot gold down 0.3% at $1,461.15/oz. (0059GMT)
  • US gold futures down 0.4% at $1,467.30/oz.

Grains

  • Soybeans rise for first time in 8 sessions
  • Soybean futures up 0.5% at $8.81 a bushel (0221GMT)
  • Corn futures up 0.2% at $3.82 a bushel
  • Wheat futures little changed at $5.41-1/2 per bushel

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

  • African Economic Conference by AfDB, ECA & UNDP in Sharm el-Sheikh, Egypt; 2-4 Dec
  • South Africa ABSA manufacturing PMI Nov-19 [prev. 48.1]
  • South Africa SACCI business confidence Nov-19 [prev. 91.7]

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

  • At least 24 killed in Tunisia bus crash
  • Cameroon seperatists fire on passenger jet in northwest
  • South African Airways in talks over funding for shake-up
  • Nigeria commits OPEC agreements before Vienna meeting
  • Comoros seeks $4.6 blnin investment to climb out of poverty
  • Incumbent Geingob wins Namibia presidential election with 56.3% of the vote
  • Tunisians protest in southern town after man sets himself alight
  • Ivorian president says he will stand in 2020 election if former leaders run again
  • Gabon president’s spokesman detained in anti-corruption crackdown
  • AfDB approves $210 mln loan for Nigeria’s power transmission project
  • Nigerian central bank injects $323 mln, 18 mln yuan into currency market
  • Nigeria’s Buhari seeks parliamentary nod on $23 bln in foreign loans
  • South African Airways shunned by insurers as financial doubts grow
  • Africa Oil – Sonangol nearly sells out spot cargoes, Nigerian sales East rise
  • South African rand firms but remains range-bound, stocks fall
  • Africa-focused lender Bayport explores $800 mln London listing – sources
  • Algerian protesters keep up pressure on authorities as vote nears
  • Fatal attacks on Congo clinics risks resurgence of ebola epidemic
  • Sudan’s ex-ruling party condemns law dissolving it, to continue “reforms”
  • Sudan’s former ruling party rejects law dissolving it
  • South Africa’s Hollard excludes SAA from insolvency coverage
  • South Africa’s Telkom says Cell C has rejected takeover offer
  • PwC probe finds certain executives at South Africa’s Tongaat overstated profits, assets
  • Fired Zimbabwe state doctors reject offer to return to work
  • Nigeria gives UK court $200 mln guarantee for stay on asset seizures in P&ID case
  • Kenyan shilling under pressure from end month importer demand
  • Government should nationalise Kenya Airways quickly – CEO
  • South Africa court rejects Zuma appeal to prevent corruption trial
  • Kenya’s annual inflation rises to 5.56% in November
  • Kenya Power, KenGen delay annual results on auditor-general appointment
  • South Africa’s Karoo drills and prays as taps run dry
  • Flight Centre, travel insurer drop South African Airways
  • Kenya’s Safaricom starts digital post services in e-commerce push
  • Kenya’s parliament approves an extra 78 bln shillings in spending
  • French army helicopters crashed in Mali were not under IS fire – general
  • Kenya Power annual results delayed on auditor-general appointment
  • South Africa’s Telkom says Cell C has rejected takeover offer
  • South Africa’s credit demand growth quickens to 7.28% y/y in Oct
  • Sudan moves to dissolve ex ruling party, repeals public order law

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

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