macroafricaintel Daily Brief | 16 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global Markets

  • Asian shares up as ‘phase one’ trade deal boosts confidence
  • MSCI Asia ex-Japan +0.27%
  • Chinese, Japanese shares fall on profit taking, investor caution
  • Investors welcome trade deal but await details

Oil Markets

  • Oil prices fall but hold near 3-mth high on trade deal agreement
  • Brent down 0.4% at $64.99 a barrel (0101GMT)
  • WTI down 0.4% at $59.84

Precious metals

  • Gold prices fall as easing trade worries lead to riskier bets
  • Spot gold down 0.1% at $1,473.88/oz. (0050GMT)
  • US gold futures down 0.2% at $1,478.60/oz.

Grains

  • Soybeans jump 1% to hit 1-mth high on US-China trade deal
  • Soybean futures up 0.9% at $9.15-3/4 a bushel (0127GMT)
  • Corn futures up 1.3% at $3.85-3/4 a bushel
  • Wheat futures up 0.7% at $5.36-1/2 a bushel

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

  • Anti-Barrow protests in The Gambia
  • Public worker slowdown protest in Liberia over pay
  • South Africa day of reconciliation; Ramaphosa speech in KZN
  • South Africa’s EFF 2nd national people’s assembly; 13-16 Dec
  • Ghana district assembly & unit committee elections (17 Dec) prep
  • Nigeria inflation Nov-19 [fcst. 11.9% yy, prev. 11.6%]

Key African events or data releases over the weekend & early a.m today

  • Militants kill 22 in eastern Congo despite claims of security progress
  • Turkey to sign off on military pledge to Libya
  • Zimbabwe vice president’s wife arrested for suspected fraud, money laundering
  • Egypt central bank expands financing for distressed tourism companies
  • Botswana bans hunters after killing of research elephant
  • Namibia rhino poaching drops in 2019, after sharp rise last year
  • Former Sudan president Bashir sentenced to 2 years in detention for corruption
  • Botswana loss-making retailer Choppies to exit 3 more African countries
  • Armed group claims killing 4 humanitarian hostages in Nigeria, aid organization says
  • Morocco ex-diplomat to UN accused of visa fraud over workers
  • Ethiopia to get $3 bln loan from World Bank
  • Ex-premier elected Algerian president; thousands march in protest
  • Algerian president-elect says to look at new constitution
  • Africa Crude – Heavy sweet West African grades sell as VLSFO demand seen high
  • Kenyan scientist builds with bottles to beat plastic pollution
  • Renewables hit 90% of Kenyan power with new 50 MW solar plant
  • Russia urges talks in Libya after commander Haftar calls on forces to advance – Ifax
  • South Africa asks industry for options to end power crisis
  • Zimbabwe’s Mnangagwa says no going back to dollarisation
  • Pirates release 3 oil tanker crew kidnapped off Togo
  • First Quantum launches arbitration against Zambian state miner
  • Ebola spreads in Congo after militants attack treatment camp – WHO
  • Zambian holding company launches action involving First Quantum
  • Nigeria LNG signs 20-yr gas supply agreement for Train 7
  • Algeria declares former PM Tebboune winner of presidential election
  • Kenya’s competition regulator approves Airtel Kenya, Telkom Kenya merger
  • South Africa’s Northam agrees Booysendal platinum mine wage deal
  • Mass protests expected as Algerian media call election a success
  • Prime Minister Abiy says Ethiopia to get $3 bln funding from World Bank
  • South Africa records smaller FDI inflows in 3rd quarter

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

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