October 10, 2019 / 5:15 AM / 2 months ago

African Markets - Factors to watch on Oct. 10

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 EVENTS:
 *Rwanda statistics bureau releases latest inflation data
 *Zimbabwe court to rule on whether doctors strike is legal
 
 GLOBAL MARKETS
 Global stocks recouped early losses as news reports raised
 hopes that the United States and China would settle some
 economic disputes, but investors were kept on edge by an
 earlier report that trade talks due to begin on Thursday
 could be cut short.                       
 
 WORLD OIL PRICES
 Oil prices fell on Thursday on concerns of lower fuel demand
 as talks this week between the United States and China, the
 world's two largest oil users, are not expected to help end
 the trade war between them, adding to anxieties about the
 global economy.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand firmed on Wednesday as global market
 sentiment improved, with investors hopeful that a trade
 agreement can be reached between United States and
 China.            
 
 
 
 NIGERIA ECONOMY
 Nigeria's government may drive up inflation when it
 increases a sales tax to partly finance its record 2020
 budget and implements a new minimum wage, the International
 Monetary Fund (IMF) warned.            
 
 
 
 NIGERIA STOCKS
 Nigerian stocks dropped for the seventh straight session on
 Wednesday to near a two-and-half year low as Dangote Cement
             , and consumer shares led by Guinness
              declined.            
 
 
 
 AFRICA ECONOMY
 The World Bank on Wednesday cut its economic growth forecast
 for sub-Saharan Africa for 2019 to 2021 by 0.2 percentage
 points from its earlier projection, citing a slowdown in
 fixed investment and policy uncertainty in the global
 economy.            
 
 
 
 KENYA MARKETS
 The Kenyan shilling        strengthened against the dollar
 on Wednesday due to inflows from offshore investors buying
 government debt and tightening liquidity in the local money
 market, traders said.            
 
 
 
 TANZANIA GOLD
 Tanzania's earnings from gold exports rose 25.1% in the year
 to August, buoyed by higher output of the precious metal,
 its central bank said on Thursday.                    
 
 
 
 NOBEL PRIZE ETHIOPIA
 During a high-level meeting at Ethiopia's foreign ministry
 in July, officials were shocked by social media reports that
 their prime minister was visiting Eritrea.              
 
 
 
 ETHIOPIA DAM/EGYPT
 Egypt denounced Ethiopia on Wednesday for moving forward
 with building and operating a hyropower dam on the Nile,
 which Cairo worries will threaten already scarce water
 supplies.                      
 
 
 
 SOMALIA AUDITOR
 The Somali government is keeping some donor funds offshore
 and none of the ministries have completed last year's
 accounts, the auditor general said in a report published on
 Wednesday.                    
 
 
 
 ZIMBABWE POLITICS
 Zimbabwe's public sector workers demanded to be paid U.S.
 dollar-indexed salaries on Wednesday to cushion them against
 soaring inflation, and will decide this week whether to
 strike.            
 
 
 
 ZAMBIA MINING
 Zambia's Konkola Copper Mines (kCM) smelter was on Wednesday
 shut down for annual maintenance two days earlier than
 planned after a leak, the provisional liquidator Milingo
 Lungu said.                
 
 
 
 SENEGAL OIL
 Senegal has delayed the launch of an oil and gas licensing
 round due on Wednesday until Nov. 4 as contract documents
 still need to be finalised, oil minister Mahamadou Makhtar
 Cisse said.               
 
 
 
 SOUTH SUDAN OIL
 South Sudan will kick-start an auction of licences to
 develop eight oilfields around the country later this month,
 an oil ministry official said on Wednesday.                 
 
 
 
 
     For the latest precious metals report click on        
     For the latest base metals report click on         
     For the latest crude oil report click on       
   
   
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below