macroafricaintel Daily Brief | 16 Nov

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

Global Markets
• Asian stocks hit record peak as vaccine hopes dampen virus fears
• China’s factory output beats forecasts as Asia shakes off covid slump
• Oil climbs higher on China, Japan rebound, hopes of OPEC+ supply curb
• Brent up 1% at $43.22, WTI up 1.4% at $40.67 (0204GMT)
• Gold hits 1-wk peak as softer dollar, worsening pandemic lift appeal
• Spot gold up 0.5% at $1,896.85/oz., futures up 0.5% at $1,894.90 (0329GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria inflation Oct-20 [fcst. 14.0% yy, prev. 13.7%]
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama on the campaign trail
• South Africa state capture inquiry continues
• South Africa central bank MPC (17-19 Nov) [fcst. 3.5%, prev. 3.5%]
• Covid-19 updates by authorities across the continent

Key African events or data releases over the weekend & early a.m today
Reuters
• US condemns Tigray forces’ attacks on Eritrea
• Gunmen in western Ethiopia kill at least 34 people in bus attack,
rights body says
• Number of refugees fleeing Ethiopia to Sudan surpasses 20,000 – UN
• Ethiopia PM says the country can achieve objectives of Tigray
operation ‘by itself’
• In escalation of Ethiopia war, Tigray leader says his forces fired
rockets at Eritrea
• Rockets fired at Eritrea capital from Ethiopia, diplomats say
• Fleeing Tigray war, Ethiopians cross river to Sudan
• Demonstrators demand better conditions for Canary Islands’ migrant arrivals
• ‘The soldiers kept shooting’: witnesses testify in Lagos protest probe
• Zambia will not pay eurobond coupon before grace period expires – finmin
• France says it has killed senior militant operative in Mali
• Ethiopians fleeing to Sudan describe air strikes & machete killings in Tigray
• Polisario leader says Western Sahara ceasefire with Morocco is over
• Ethiopia claims big advance in Tigray, Amnesty reports mass killing
• Tigray says two missile strikes on Ethiopia sites targeted military
• After Ivory Coast election, fighting comes to a once-calm town
• IMF says any aid to Zambia requires steps to restore debt sustainability
• Ethiopia: Tigray conflict risks spiralling out of control: UN’s Bachelet
• US condemns ‘massacre of civilians’ in Ethiopia’s Tigray
• Refugee exodus to Sudan swells as war crimes feared in Ethiopia’s Tigray
• 20 migrants drown in Libya shipwreck, fourth accident this week
• Ethiopia denies boming Tigray’s Tekeze power dam
• Senior South Africa ANC leader Magashule granted bail in graft case
• War crimes feared in Ethiopia’s Tigray conflict
• UN says more than 14,500 have fled Ethiopia to Sudan
• Zambia eurobond holders reject payment deferral request – finance ministry
• Ethiopia names new Tigray head as conflict boils
• Zambia heads toward Africa’s first post-covid default as debt deadlines loom
• Tanzania re-elected leader keeps finance minister Mpango in new govt
• AU chief sacks security head after Ethiopia questions loyalty
• Egypt: Man sets himself on fire in Cairo’s Tahrir square
• Nigeria case against JP Morgan over OPL 245 oil deal to go to trial
• Egypt transgender woman faces uphill battle against stigma

Bloomberg
• Asia Pacific nations sign the world’s biggest trade deal
• South Sudan to use its first IMF funding to stabilize currency
• SBM Bank (Mauritius) to appoint Servansingh as chairman, Week-End says
• Tigray confirms Eritrea strike as Ethiopia conflict spreads
• OPEC’s got to play the coronavirus waiting game
• Ethiopia Tigray leader confirms firing missiles at Eritrea
• OPEC+ gets scant relief from vaccine as it meets to discuss cuts
• Ethiopia arrests militant suspects planning attacks
• US Army names soldiers killed in Egypt helicopter crash
• Polisario quits Western Sahara 30-yr ceasefire after clashes
• Egypt unveils huge find of ancient coffins and gilded statues
• Ethiopia says rockets fired in Amhara region as violence spreads
• Kenya’s biggest tea grower 4-mth output rises 3.9%
• Nigeria central bank dollar sales fails to stop naira weakening
• WHO approves first ever vaccine for emergency use against polio
• Nigeria President Buhari signs amended banking bill into law
• South Africa Limpopo private sector coal plant project may be abandoned
• G20 back new rules to deepen debt help to poor hit by virus
• Ethiopia withdraws thousands of troops from neighbouring Somalia
• Zambia poised to be first Africa sovereign default in pandemic
• Zambia closer to default after bondholders refuse relief
• Morocco moves army to end Western Sahara blockade, Le360 reports
• South Africa ruling party official charged with graft, fraud
• France forces kill militant group commander in Mali
• Multichoice, Vivendi to team up on new Africa TV productions
• Tanzania targets annual average GDP growth of 8% over five years
• Old Mutual sees resilient South Africa consumers aiding growth
• Scores of civilians massacred in northern Ethiopia, Amnesty says
• Zambia’s plan to sell billionaire’s mines stuck in legal mire
• South Africa’s Eskom ordered to rectify pollution issues at 3 power plants
• European firms say South Africa’s poor utilities deter investment

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

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