macroafricaintel Daily Brief | 12 Nov

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

Global Markets
• Trump presses on with uphill legal struggle
• Wall Street is not overly worried Trump can overturn election
• Asian stocks hold vaccine-driven gains after US defensive shift
• Oil keeps climbing on hopes OPEC+ will hold back supply as Covid-19 cases rise
• Brent up 0.7% at $44.11, WTI up 0.8% at $41.80 (0130GMT)
• Gold muted as firmer dollar, vaccine hopes dim safe-haven appeal
• Spot gold down 0.1% at $1,863.70/oz., futures flat at $1,862.20 (0048GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• South Africa mining production Sep-20 [fcst. 1.9% yy, prev. -3.3%]
• South Africa releases labour statistics
• South Africa’s Ramaphosa briefs parliament on a range of issues
• 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 genocide suspect Kabuga pleads not guilty at UN court
• Ivory Coast president & opposition to pursue talks amid deadly standoff
• Thousands flee Ethiopia conflict, anti-Tigray protests planned
• From Nobel Prize to fighting former comrades: Ethiopia’s PM Abiy
• Israel to send first delegation to Sudan on Sunday to firm up
normalisation – source
• Greece, Egypt to welcome ‘more decisive’ US involvement under Biden,
Greek PM says
• South Africa’s ANC says it has not asked Magashule to step down over
arrest warrant
• Thousands of refugees flee to Sudan from Ethiopia conflict
• Zambia’s bondholders must accept write-downs – campaign group
• Botswana signs agreement with global vaccine scheme for 20% of population
• Killing of Libya dissident underscores stakes in peace talks
• South Africa regulator not planning to decide on nuclear procurement
on Wednesday
• Explosion in Ethiopia’s capital injures one man
• UN urges Mozambique to investigate reported massacres, beheadings
• Endeavour in Teranga merger talks as West Africa mining deals hot up
• Tanzania opposition presidential candidate leaves for Belgium
• Post-election clashes in Ivory Coast kill 3, wound dozens, sources say
• Ethiopia arrests 17 military officers for disrupting communications

Bloomberg
• Rivals in war-torn Libya agree on path to elections in 18 months
• Uganda activists turn to EU to save forest with chimpanzees
• OPEC+ focuses on delay to oil output hike of 3 to 6 months
• Nigeria billionaire plans to dig platinum mine in Zimbabwe
• Zimbabwe hikes civil servants’ pay 40% to ease costs pressure
• Ivory Coast opposition wants political prisoners freed before talks
• One of the biggest ever diamonds has been found in Botswana
• Nigeria mulls social media rules as EndSARS protests go online
• Ghana inflation edges closer to target as rate drops third month
• Libya oil output at 1.1 mln barrels a day toughens OPEC task
• Ethiopia clashes leave 550 dead; AU urges ceasefire
• South Africa’s Sasol rejects demand for shareholder resolutions on climate
• Zambia on brink of default with creditors set to refuse relief

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

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