macroafricaintel Daily Brief | 15 Oct

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

Global Markets
• Global shares slop on pandemic surge, failing stimulus hopes
• MSCI Asia ex-Japan & Nikkei down 0.5%
• S&P 500 futures down 0.3% in Asia
• Poor BofA & Wells Fargo results weigh on banks index
• Brent & WTI up 0.1% at $43.37 & $41.08 respectively (0032GMT)
• Spot gold down 0.2% at $1,896.26/oz., futures down 0.4% at
$1,899/oz. (0320GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa’s Ramaphosa presents economic recovery plan to parliament
• Some Nigeria firms close for the week over youth protests for police reforms
• IMF/World virtual annual meetings; 28 Sep – 22 Oct
• Nigeria inflation Sep-20 [fcst. 13.5% yy, prev. 13.2%]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• 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
Reuters
• Rwanda in talks with EU, US firms to produce cannabis for export
• Kidnappings by pirates up 40% in Gulf of Guinea – IMB
• Uganda presidential hopeful Bobi Wine says security forces raided his office
• ‘Super efficient’ Somalia militants rake in cash
• Mozambique’s health minister tests positive for coronavirus
• Central bank says no license needed for foreign lending in Uganda
• Poisoned carcasses killing off Kenya’s vultures
• Nigeria police vow to stop using force against protesters in wake of deaths
• Death toll in migrant ship accident off Tunisia rises to 17
• Suspected militants kill 25 in central Mali attacks
• IMF sees slower rebound in South Africa’s economy next year
• Extension of G20 debt freeze would be very beneficial – Angola
• Eni seeks World Bank arbitration in Nigeria oilfield dispute
• At least 12 people killed in western Ethiopia
• Tunisia protesters clash with police after man dies in bulldozed kiosk

Bloomberg
• Barrick deal, smuggling crackdown revive Tanzania gold industry
• Pirate kidnappings off West Africa coast rise 40%, study shows
• Die-off of 5,000 seal pups in beach triggers inquiry in Namibia
• G20 to extend poor nations’ debt relief, Malpass says
• G20 extends debt relief plan amid warnings it’s not enough
• Uganda central bank absolves itself of blame in DTB loans case
• Ghana inflation slows for 2nd straight month on food prices
• Horn of Africa better able to fight new locust swarms, FAO says
• Eni accuses Nigeria & US litigation funder of ‘opaque’ deal
• De Beers sells most diamonds since virus paralyzed industry
• Northan weighs buyout of south Africa black investors’ $1.8 bln stake
• South Africa treasury requests budget delay over recovery plan
• Countries start hoarding food as prices rise and covid worsens
• Saudi prince and Putin urge OPEC+ compliance as oil prices sag
• Zambia warns of default if creditors refuse interest holiday
• Caledonia plans listing on Zimbabwe’s new stock exchange
• Macron is paying the price for France’s bloody history in Africa
• Subpar economic recovery seen piling more pain on Nigeria banks

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

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