macroafricaintel Daily Brief | 29 Oct

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

Global Markets
• Asia’s Covid-19 control tempers global stock selloff, US futures jump
• ECB policy decision at 1245GMT
• Oil inches up after 5% slide overnight as hurricane shuts US output
• Brent up 0.1% at $39.16, WTI up 0.2% at $37.46 (0517GMT)
• Gold firms on US election, economic uncertainty; dollar strength caps gains
• Spot gold up 0.2% at $1,881.16/oz., futures up 0.2% at $1,882/oz. (0413GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• US Prosper Africa digital press briefing
• Kenya medics down tools
• 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)
• South Africa’s Ramaphosa addresses national taxi summit
• Public holiday in Nigeria
• AU-backed Ethiopia GERD negotiations continue
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• Ivory Coast holds general elections (31 Oct)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• US tells WTO meeting it does not back Nigeria candidate as WTO chief
• Suspected militant freed by Mali is detained in Algeria
• Congo army says it killed 33 militiamen in days of intense fighting
• Nigeria stocks rise to 9-mth high after easing of curfews
• Tanzania President Magufuli eyes 2nd term as polls close
• Zambia wins deferral on China Development Bank loan repayments
• Libya investigators find more mass graves in recaptured city
• France’s Total makes gas condensate discovery in South Africa
• Amnesty disputes Nigeria army claim it did not shoot Lagos civilians
• Nigeria considers social media regulation in wake of deadly shooting
• South Africa’s Ramaposa self-isolates after dinner guest gets Covid-19
• Sudan doubles fuel prices to help cut budget deficit
• In Nigeria, protests, curfews lead to petrol queues – state oil firm
• Bitter rivals, familiar faces and fears as Ivory Coast votes for president

Bloomberg
• Africa’s richest man delays cement London listing until 2023
• Oil market faces Iran shock if Biden win points to nuclear deal
• South Africa defends state airline bailout as it seeks partners
• WTO panel recommends Nigeria’s candidate for top post
• Zimbabwe urges southern Africa to fight militants in Mozambique
• Nigeria covering up army killing of protesters, Amnesty International says
• South Africa risks labour union ire with budget plan to tame debt
• South Africa bails out insolvent state airline with $641 mln
• Faced with surging debt, South Africa sticks to borrowing plans
• Egypt leader urges respect as France debate on Islam stirs anger
• Total makes 2nd gas discovery off South Africa
• Zambia secures China debt reprieve ahead of bondholder vote
• Tanzania president faces spirited opposition in tense vote
• South Africa inflation slows for 2nd month
• South Africa stocks slip to 4-wk low before budget statement
• South Africa’s Ramaphosa begins Covid-19 self-quarantine
• Long a target of police brutality, Nigeria tech fights back

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

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