macroafricaintel Daily Brief | 31 Dec

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

Global Markets
• Vaccines, stimulus set tone for 2021 as year ends on bullish note
• Asia shares set to finish 2020 at record high, riskier currencies in favour
• Exxon signals up to $20 bln writedown to overwhelm Q4 gains in oil, chemicals
• Oil set for 20% drop in 2020 as lockdowns weigh, market eyes more stimulus
• Brent down 0.5% at $51.38, WTI down 0.2% at $48.29 (0246GMT)
• Gold set for best year in a decade with 24% rise
• Spot gold down 0.2% at $1,889.58/oz., futures little changed at $1,892.90 (0353GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Holiday week 2
• Nigeria’s Buhari signs 2021 budget
• Kenya IEBC starts BBI signatures verification exercise
• AfCFTA start of trading launch ceremony; Ramaphosa, Faki, et al. speakers (1 Jan)
• South Africa M3 Nov-20 [act. 8.2% yy, prev. 9.8%]
• South Afrrica PSCE Nov-20 [act. 3.4%, prev. 3.2%]
• Vote-counting & results collation in 27 Dec. Niger & CAR elections
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Opposition in CAR calls for repeat of disrupted election
• Egypt summons Ethiopia’s envoy over comments – statement
• Reuters cameraman detained in Ethiopia has seen no evidence against him, lawyer says
• Ivory Coast opposition leader Affi released 2 mths after election-spat arrest
• Ethiopia migrant who became symbol of integration in Italy killed on her goat farm
• Uganda opposition candidate Bobi Wine arrested, police fire tear gas at protesters
• Zimbabwe delays new school term due to rising Covid-19 cases, cyclone
• Tropical storm Chalane lands in Mozambique
• Morocco arrests dissident, investigates alleged money laundering
• Nigeria warns on oxygen supplies, dysfunctional labs in tackling covid

Bloomberg
• South Africa reports record daily covid infections of 17,710
• Ghana opposition challenges election outcome in supreme court
• Uganda opposition leader arrested days before Jan.14 vote
• South Africa stocks rise amid Naspers rebound, new vaccine
• South Africa Bitcoin trader under liquidation, Business Day says
• Algeria president returns home after covid treatment in Germany
• Nigeria development bank gets $1 bln loan to help businesses
• Seychelles bans gatherings, shuts schools as virus cases rise

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

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