macroafricaintel Daily Brief | 4 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares slide as Trump raises spectre of longer trade war
  • Trump flags delaying trade talks until after 2020 election
  • Asian stocks follow Wall St lower, safe-havens rise
  • ASX, Nikkei fall 1%

Oil Markets

  • Oil gains ahead of OPEC+ meeting, boosted by fall in US stockpiles
  • Brent up 0.5% at $61.10 a barrel (0151GMT)
  • WTI up 0.5% at $56.37

Precious metals

  • Gold hovers near 1-mth peak as trade concerns linger
  • Spot gold little changed at $1,476.55/oz. (0143GMT)
  • US gold futures down 0.1% at $1,483.10/oz.

Grains

  • Wheat extends slide, hits 9-day low on ample global supplies
  • Wheat futures down 0.3% at $5.23-1/2 a bushel (0135GMT)
  • Soybean futures up 0.2% at $8.72-3/4 a bushel
  • Corn futures down 0.2% at $3.80-1/2 a bushel

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

  • Nigeria 2018/19 general household survey report release
  • South Africa’s Ramaphosa on working visit to Guinea (4 Dec), Ghana (5 Dec) & Togo (6 Dec)
  • Bank of Namibia interest rate decision [fcst. 6.5%, prev. 6.5%]
  • Ghana parliament probes high data cost, telcos summoned
  • South Africa Standard Bank PMI Nov-19 [prev. 49.4]
  • Nigeria Stanbic IBTC PMI Nov-19 [prev. 56.9]
  • Nigeria’s legislature expected to pass 2020 budget
  • South Africa state capture inquiry continues
  • African Economic Conference by AfDB, ECA & UNDP in Sharm el-Sheikh, Egypt; 2-4 Dec

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

  • Kenya forcing importers to use costly new Chinese railway, businessmen say
  • Rio Tinto halts operations at South African unit as violence rises
  • Africa Oil – Nigerian December crude almost sold out, diffs high
  • Egypt’s foreign reserves rise to $45.354 bln in November
  • Namibian state fishing firm suspends CEO in corruption scandal
  • Tunisia grapples with post-revolution economic slide
  • Tunisia PM designate expects govt next week – Reuters interview
  • 23 killed in ceramics factory fire in Sudan
  • Lawyer says establishing Zimbabwe’s Mugabe assets will take a long time
  • South African rand, stocks slide after GDP shrinks
  • South Africa’s Taste Holdings loses second CEO this year as focus shifts to luxury
  • UN sends troops to halt bout of ethnic violence in South Sudan
  • Union calls on South Africa govt to drop inspections on arms exports
  • UN to deliver food aid to 4.1 mln in Zimbabwe, fears ‘major crisis’
  • South African economy contracts 0.6% in third quarter
  • Yield rise in weekly South Africa govt bond auction
  • Egypt to issue first corporate sukuk within weeks – official
  • South Africa’s Q3 expenditure on GDP down 0.3%
  • World Bank says Tanzania’s GDP to grow faster in 2020
  • Zimbabwe’s Mugabe left behind $10 mln, some properties – state media
  • Kenyan shilling under pressure on elevated demand by importers
  • World Bank says Tanzania’s GDP forecast to grow 5.8% in 2020 from 5.6% in 2019
  • Australian minnow Far battles Woodside over West African oil spoils
  • Egypt’s non-oil private sector shrinks to slowest in over 2 years – PMI

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

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