macroafricaintel Daily Brief | 10 Dec

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

Global Markets
• Facebook faces US lawsuits that could force sale of Instagram, WhatsApp
• Stocks take a breather as Brexit, US stimulus talks stall
• US job openings rise, but labour market slowing
• US economy to slow in Q1 but reach pre-covid-19 levels in a year: Reuters poll
• Oil rises on vaccine rollout, concern on Iraq oilfield attack
• Brent up 0.5% at $49.08, WTI up 0.6% at $45.77 (0500GMT)
• Gold treads water after sharp sell-off on US stimulus delay
• Spot gold steady at $1,839.54/oz., futures up 0.2% at $1,843 (0444GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Human Rights Day
• Kenya BBI promoters submit signatures to IEBC for verification
• AfDB hosts Africa economic conference (8-10 Dec)
• Ethiopia’s Abiy visits Kenya (9-10 Dec)
• South Africa current account balance Q3-20 [fcst. 1.1% of GDP, prev. -2.4%]
• South Africa mining production Oct-20 [fcst. -3.8% yy, prev. -2.8%]
• South Africa manufacturing production Oct-20 [fcst. -2.9% yy, prev. -2.6%]
• 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
• Families suing South Africa’s MTN for allegedly aiding militants want case heard in US
• South Africa recovers $228 mln of fraudulent jobless claims – auditor general
• Kenya’s Safaricom expects M-Pesa price curbs to be lifted at year-end
• South Africa insurer Sanlam sees challenging environment ahead
• Ethiopia shifts focus from war to economy, UN worries about Tigray
• South Africa trial of AstraZeneca vaccine still months from efficacy results
• Ghana president Nana Akufo-Addo wins re-election with 51.59% of vote
• Ethiopia’s war risks leaving manufacturing dreams in tatters
• Zambia requests financing arrangement with the IMF
• Morocco says covid-19 vaccine will be free to all citizens

Bloomberg
• New profit alerts from Nigeria banks have less to do with virus
• South Africa declares 2nd wave of coronavirus as cases surge
• Ghana’s president Nana Akufo-Addo wins re-election
• MTN plans sale and leaseback of South Africa tower portfolio
• South Africa audit head finds irregularities in covid relief spending
• Anti-tank missile in Libya resembles Iran weapon, UN finds
• China residents in Uganda can import covid-19 vaccine for own use
• McKinsey to repay $44 mln, testify in South Africa graft probe
• Ethiopia rejects independent probes of Tigray conflict
• South Africa business group urges reforms to boost fragile mood
• Kenya eyes AstraZeneca vaccine on less onerous storage needs
• Egypt buys ‘huge’ oil hedge to lock in gains from price rout
• Ghana opposition alleges rigging as election result delayed

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

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