NAIROBI, Nov 1 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
– – – – –
* MALAWI – The government releases new interest rates this
Stronger-than-expected factory growth in China helped Asian
stocks erase early losses on Tuesday, but investors remained
cautious as the acrimonious U.S. presidential election
campaign entered its final week.
MSCI’s broadest index of Asia-Pacific shares outside Japan
rose 0.3 percent, after earlier hitting its
lowest level since Sept. 19. October marked the first monthly
loss for the index since May.
WORLD OIL PRICES
Oil prices edged higher from one-month lows in early trading
in Asia on Tuesday after OPEC agreed on a long-term strategy
that was seen as an indication the cartel was reaching a
consensus on managing production.
But the gains were limited as the market was weighed down by
further indications of record output from the group, a sign
the glut that has kept a lid on prices is not draining away as
fast as the oil bulls would like.
For the top emerging markets news, double click on
For the latest news on African stocks, click on
SOUTH AFRICA MARKETS
South Africa’s rand neared a five-week high and banking stocks
rallied on Monday after the state prosecutor dropped fraud
charges against Finance Minister Pravin Gordhan, easing
concerns about his possible removal.
By 1500 GMT the rand ZAR=D3 had pushed its gains to more than
2 percent to 13.5275 per dollar, its firmest since Sept. 28
and just short of a session high of 13.5025.
Nigeria’s central bank will sell $500 million of two- and
three-month currency forwards at auction on Monday to clear a
demand backlog from manufacturers, traders said, as it seeks
ways to resolve a chronic dollar shortage.
A lack of dollars has caused many firms to halt operations and
lay off workers, compounding an economic crisis rooted in
falls in the price of oil, which accounts for 70 percent of
Nigeria’s budget revenues.
The Kenyan shilling was under pressure against the
dollar on Monday and was seen easing due to increased demand
from oil and commodities importers making end month payments.
Kenya’s economy is expected to grow by 5.9 percent in 2016,
the World Bank said on Monday, unchanged from an earlier
forecast and up from actual growth of 5.6 percent last year.
A Nigerian oil workers union has confirmed an attack on a
pipeline operated by state oil firm NNPC in the Niger Delta
oil hub claimed by a militant group, an executive said on
Nigeria plans to create an independent agency to regulate its
gas industry, the petroleum minister said on Monday.
A Nigerian militant group threatened on Monday to step up
attacks on oil facilities in the Niger Delta if the president
pursues a military campaign, casting a shadow over peace talks
between the government and groups due to start on Tuesday.
Algeria’s state oil firm Sonatrach slashed its November
official selling price for crude exports to dated Brent flat,
down from a 45 cent premium to the benchmark in October, it
said on Monday in an emailed statement.
Belgium’s foreign minister and democracy activists in
Democratic Republic of Congo called on Congolese authorities
to investigate allegations that high-ranking officials stole
millions of dollars in public funds.
EGYPT CURRENCY CRISIS
Egyptian Prime Minister Sherif Ismail told parliament on
Monday the government was working with the central bank to
bring an end to the discrepancy between the official and
parallel market exchange rates for the Egyptian pound.
SOUTH AFRICA MINING
South African platinum miner Lonmin said on
Monday it would seek new ways to reduce costs after signing a
three-year wage deal with staff which will raise its labour
costs by an average of 380 million rand ($28 million) annually
over the period.
CENTRAL AFRICAN REPUBLIC PEACEKEEPING
French Defence Minister Jean-Yves Le Drian said on Monday that
France would be ready to intervene in Central African Republic
if necessary, despite ending its peacekeeping mission in its
Connect via email
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- October 2019
- September 2019
- August 2019
- July 2019
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
- April 2018
- March 2018
- February 2018
- January 2018
- December 2017
- November 2017
- October 2017
- September 2017
- August 2017
- July 2017
- June 2017
- May 2017
- April 2017
- March 2017
- February 2017
- January 2017
- December 2016
- November 2016
- October 2016
- September 2016
- July 2016
- June 2016
- May 2016
- April 2016