macroafricaintel Daily Brief | 27 Oct

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

Global Markets
• US stock market braces for rocky week ahead of contentious US election
• China’s industrial profit growth slows as factory-gate deflation weighs
• Oil steadies, but outlook gloomy as coronaviru cases, supply grow
• Brent up 0.5% at $40.65, WTI up 0.4% at $38.71 (0324GMT)
• Gold ticks up on softer dollar, coronavirus woes
• Spot gold up 0.3% at $1,907.77/oz., futures up 0.2% at $1,909.20/oz.
(0116GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• AU-backed Ethiopia GERD negotiations resume; after Trump bombing remark
• Nigeria’s Lagos judicial inquiry into police brutality begins proceedings
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• South Africa’s finmin Mboweni delivers medium term budget policy
statement (28 Oct)
• Tanzania holds general elections (28 Oct)
• US Prosper Africa digital press briefing (29 Oct)
• Ivory Coast holds general elections (31 Oct)
• South Africa consumer inflation Sep-20 [fcst. 3.2% yy, prev. 3.1%] (28 Oct)
• South Africa M3 Sep-20 [fcst. 11.8% yy, prev. 10.9%] (29 Oct)
• South Africa PSCE Sep-20 [fcst. 4.2% yy, prev. 3.9%] (29 Oct)
• South Africa producer inflation Sep-20 [fcst. 2.4% yy, prev. 2.4%] (29 Oct)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Seventh child dies as Cameroon reels from shooting attack on school
• Judicial panel into shooting, police brutality convenes in Nigeria’s Lagos
• Rwanda genocide suspect in detention in The Hague
• Climate change poses growing threats to vulnerable Africa, UN says
• Morocco condemns publication of Prophet Mohammad cartoons: statement
• Mali & France at odds over talks with militants
• Three-way talks on Blue Nile dam dispute to resume Tuesday
• Seychelles opposition wins presidency for first time in 43 years
• Tanzania’s ‘Bulldozer’ president hopes mega-projects impress voters
• Africa money transfer firms thrive as pandemic spurs online remittances
• France’s Orange says Guinea network suffered cuts without prior warning

Bloomberg
• Ghana misses out on Africa bond rally due to election concerns
• How the virus worsened South Africa’s debt woes
• Kenya president, deputy spar over plan to bridge ethnic divides
• Risks abound for emerging markets in final week before US vote
• Contract discrepancies forced South Africa’s Eskom to delay release of results
• South Africa may give more funds to state arms company & govt lender
• Liquid Telecom raises $307 mln in Africa data centre push
• South Africa stocks fall as virus cases surge & US stimulus deal elusive
• Talks on Ethiopia’s mega-dam resume after Trump weighs in
• Libya reopens the last of its oil fields with El Feel to restart

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

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