macroafricaintel Daily Brief | 2 Dec

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

Global Markets
• Asia shares bounce on hopes for US stimulus, vaccine
• Biden would not immediately remove Phase 1 trade agreement with China: NYT
• Oil prices drop on US stock build, delay in OPEC+ meeting
• Brent down 0.9% at $47.01, WTI down 1% at $44.09 (0358GMT)
• Gold dips as doubts linger over US stimulus bill
• Spot gold down 0.3% at $1,810.36/oz., futures down 0.4% at $1,812.60 (0311GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Nigeria’s Buhari chairs cabinet meeting; insecurity in the north expected to top agenda [Senate wants military chiefs replaced]
• South Africa’s Ramaphosa participates in dialogue on ILO convention no. 190
• Ghana ruling NPP’s Akufo-Addo & NDC’s Mahama in final campaign push
• Kenya’s Ruto meets allies on BBI strategy
• South Africa public sector unions ask court to force govt’s hand on 2018 wage increases agreement [Govt wants case postponed to after 1
Feb.]

• South Africa’s Mabuza delivers keynote at World AIDS day event in Soweto
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Violence, floods in South Sudan’s Warrap state displace thousands
• Ethiopia war may turn into guerrilla insurgency, experts say
• Regulations needed to stem cocoa sector abuses: report
• Ethiopia govt says senior politician linked to Tigray region
rebellion surrenders
• Historic Liberia war crimes trial to open in Switzerland
• HIV generic drug for babies to be rolled out in Africa in 2021 – aid agencies
• Africa retail tech startup Sokowatch eyes electric tuk tuks to cut costs
• South Africa tries to delay wage dispute hearing, unions opposed
• UN seeks access to 96,000 Eritrea refugees in Tigray where food running out
• Somalia expels Kenya ambassador over ‘interference’

Bloomberg
• South Africa virus fears cloud outlook for banks tied to economy
• Mars throws shade at chocolate rivals in global cocoa fight
• Ethiopia govt says member of Tigray executive surrenders
• South Africa govt pay dispute with unions heads for court
• EU may suspend budget funding to Ethiopia over Tigray conflict
• South Africa factory mood drop signals recovery is losing steam
• OPEC+ talks delayed as countries fight over oil output
• Zimbabwe $1.25 bln plan sees cannabis as biggest cash crop

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

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