macroafricaintel Daily Brief | 21 Jan

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica

Global Markets

  • Asia shares lurch lower, China flu risks mount
  • Nikkei and S&P 500 futures slip on safe-haven shift
  • Some point to economic risks around China flu outbreak
  • Markets await BoJ meeting, Trump speech at Davos

Oil Markets

  • Oil prices ease as supply risk concerns fade
  • Brent down 0.5% at $64.90 per barrel (0318GMT)
  • WTI down 0.2% at $58.40

Precious metals

  • Gold hits 2-wk high on safe-haven demand
  • Spot gold up 0.3% at $1,565.36/oz. (0147GMT)
  • US gold futures up 0.4% at $1,566/oz.

Grains

  • Corn falls as traders take profits after biggest daily gain in 3 mths
  • Corn futures down 0.5% at $3.87-1/4 a bushel (0124GMT)
  • Soybean futures little changed at $9.29-1/4 a bushel
  • Wheat futures down 0.2% at $5.69-1/4 a bushel

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

  • World Economic Forum in Davos; 21-24 Jan
  • Nigeria’s EFCC arraigns former attorney general Adoke on alleged Malabu oil scam
  • ODI’s “Increasing UK investment in Africa” event in London
  • Ivory Coast’s Ouattara expected at Chatham House event in London
  • South Africa state capture inquiry continues

Key African events or data releases yesterday & early a.m today

  • Portugal probes Angola leaks as Eurobic bank distances itself from dos Santos
  • Oil rises as Libya declares force majeure in oilfields
  • Tunisian president chooses former finance minister to be PM
  • Ivory Coast clears homes around airport after child stowaway’s death
  • Prince Harry meets African leaders in London
  • Savannah Petroleum says Nigerian gas purchase is just the start
  • ‘Let us in!’ African women entrepreneurs implore investors at UK business event
  • Africa Oil – Programmes emerge, trade slow as market weighs Libya outage
  • Sudanese pound falls to record low on black market
  • UN says militants targeted aid worker hub in northern Nigeria
  • EU agrees to consider ways to support formal Libya truce
  • South African rand falls on domestic woes as stock rally ends
  • South African chrome firms warn of more than 1,200 job cuts
  • Egypt sovereign fund bringing in Actis to help attract investment
  • Libya’s NOC declares force majeure on Sharara, El Feel oilfields – document
  • Eni confirms production at Libya’s El Feel oilfield partially reduced
  • Egypt’s debt ratio to beat target this year, minister says
  • IMF lowers South African growth forecasts for 2020, 2021
  • UN says militants targeted aid worker hub in northern Nigeria
  • Son of Burkina Faso gold miner owner released after year-long captivity
  • Erdogan says Somalia has invited Turkey to explore for oil in its seas – NTV
  • Erdogan says Turkey not yet sent troops to Libya, only advisers – NTV
  • Next OPEC+ meeting scheduled for March – RIA cites OPEC’s Barkindo
  • Nigerian artist makes dark skin prosthetics to boost patients’ confidence
  • As Brexit nears, UK’s Johnson pushes for deeper trade ties with Africa
  • South African Airways says flights operating normally after bailout talks stall
  • Egypt primary surplus at 30 bln EGP in H1 FY 19/20
  • In Zimbabwe, a backyard hydroponic farm beats drought to grow veg
  • Ivory Coast 2019/20 cocoa arrivals reach 1.296 mln T by Jan. 19 – exporters
  • South African Airways says flights operating as normal
  • EM stocks, currencies flat ahead of key central bank meetings
  • Glencore, Merafe could cut up to 665 jobs at South African smelter
  • Pipeline fire kills three in Lagos – Reuters witness

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

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