macroafricaintel Daily Brief | 10 Feb

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

Global Markets
• Asian stocks hit record high, as earnings, stimulus boost recovery
• Twitter says India’s orders to block accounts inconsistent with local law
• Recovery in global trade to stall again in first quarter: UN report
• Oil prices extend rally after surprise fall in US stocks
• Brent up 11 cents at $61.20, WTI up 2 cents at $58.28 (0110GMT)
• Gold firms on faltering dollar, stimulus hopes
• Spot gold up 0.3% at $1,842.41/oz., futures up 0.3% at $1,843.50 (0342GMT)

Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
• Kenya’s Uhuru & Raila campaign for BBI, amid Ruto pushback
• Kenya counties debate BBI, some to pass bill during the week
• South Africa state capture inquiry continues
• South Africa’s Ramaphosa delivers state of the nation address (11 Feb)
• South Africa manufacturing production Dec-20 [act. -1.3% yy, prev. -3.5%] (11 Feb)
• South Africa mining production Dec-20 [act. -0.5% yy, prev. -11.6%] (11 Feb)
• Covid-19 updates by authorities across the continent

Key African events or data releases yesterday & early a.m today
Reuters
• Ghana parliament shuts down after covid-19 outbreak
• J&J applies for covid-19 vaccine emergency authorisation from South Africa
• India backs AstraZeneca shot despite South Africa halt
• South Africa looking at ways to use AstraZeneca vaccine, advisers say
• eSwatini will not use AstraZeneca vaccine after South Africa trial data
• Suspected militants kill 10 villagers in eastern Congo
• Aid convoy beats blockade to reach CAR’s capital
• Ethiopia says it has secured 9 mln doses of covid-19 vaccines till April
• South Africa to start covid-19 vaccinations with J&J doses
• Darfur rebel leader heads Sudan finance ministry following cabinet shake-up

Bloomberg
• Ethiopia to close two refugee camps damaged in Tigray conflict
• Standard Bank keen to raise Angola stake after partner jailed
• AstraZeneca study lead tells South Africa not to be reckless
• Key House democrat hopeful for US, Kenya trade deals in 2021
• Zimbabwe to get vaccines from China on Feb. 15 to start campaign
• Libya state oil firm to get stopgap funding before 2021 budget
• Nigeria naira weakens to 10-mth low on interbank market
• Ghana stocks seen snapping losing run with banks, oil in demand
• Mota-Engil begins work on $1.8 bln Nigeria-Niger railway
• Nigeria business steps in to buy vaccines while govt dithers
• South Africa’s Astra vaccine snub raises serious questions
• Ivory Coast’s reopened eurobonds get orders triple offer
• Nigeria bond investors sell off to position for higher yields
• EU accuses Eritrea forces of fueling conflict in Ethiopia region

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

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