macroafricaintel Daily Brief | 9 Sep

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

Global Markets

  • Tech rout roils Asian shares, oil futures extend slump
  • Trading in US stock options raises eyebrows
  • Delay in vaccine testing hurts sentiment
  • Oil futures fall sharply on worries about energy demand
  • Brent down 0.5% at $39.57, WTI down 0.7% at $36.51

Oil Markets

  • Oil falls further amid growing alarm over coronavirus second wave
  • Brent down 0.4% at $39.62 a barrel (0241GMT)
  • WTI down 0.7% at $36.52

Precious metals

  • Gold flat as dollar strength counters safe-haven demand
  • Spot gold little changed at $1,929.30/oz. (0038GMT)
  • US gold futures down 0.3% at $1,936.80/oz.

Grains

  • Soybeans ease from 2-yr top, Chinese buying limits losses
  • Soybean futures down 0.4% at $9.69 a bushel (0235GMT)
  • Wheat down 0.1% at $5.43-1/2 a bushel
  • Corn down 0.6% at $3.59-1/2 a bushel

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

  • Ethiopia’s Tigray region holds parliamentary polls; Ahmed not amused
  • Ghana’s Akufo-Addo tours Bono East region, main challenger Mahama campaigning too
  • AGRF virtual “Feed the Cities” summit in Kigali; 8-11 Sep
  • South Africa state capture inquiry continues
  • Covid-19 updates by authorities across the continent

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

  • Ethiopia’s Tigray holding regional elections in defiance of federal govt
  • Unique anatomy helps the African wild dog sustain its life on the run
  • Zimbabwe bans mining in wildlife parks
  • Egypt Air to resume direct flights from Thursday in boost to tourism
  • South Africa retailer Clicks to remove TRESemme products from shelves over advert
  • South Africa economy plunged during strict lockdown
  • Angola seizes AAA assets, hotel chains linked to de Sao Vicente, TV reports
  • Namibia eases coronavirus restrictions to attract tourists
  • Dozens of abandoned migrants rescued in Sahara
  • Nigeria doctors strike again over benefits amid coronavirus
  • South Africa’s Shoprite to quit Kenya
  • Bahrain’s ABC says in preliminary talks to buy Blom Bank’s Egypt business
  • South Africa’s Q2 expenditure on GDP down 52.3% q/q
  • South Africa economy contracts 51% q/q in Q2
  • South Africa’s Aspen sells thrombosis drug business to Mylan, shares jump
  • Panic buying, discount shoppers lift South Africa’s Shoprite annual earnings

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

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