African Markets – Factors to watch on Oct 20 – Reuters

NAIROBI, Oct 20 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Thursday.
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GLOBAL MARKETS
Asian stocks advanced on Thursday, propelled by strong U.S.
earnings and oil prices near a 15-month high, as the third
and final U.S. presidential debate before the Nov. 8
election ended.

WORLD OIL PRICES
Oil prices dipped on Thursday on profit taking after
markets rallied the previous day due to a draw in U.S.
stocks and an expectation of an OPEC-led cut in production.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand held on to gains against the
dollar on Wednesday as data showed headline consumer
inflation rose while retail sales growth slumped, bolstering
expectations that an interest rate cut was unlikely this
year. Stocks ended higher .

NIGERIA RAILWAY
Nigeria needs more time to negotiate a railway concession
project with U.S. company General Electric , the
transport minister said on Wednesday.

NIGERIA RATES
Nigeria’s overnight interbank rate crashed on Wednesday to
around 20 percent from 150 percent after the central bank
sold less hard currency than expected at a special auction,
traders said.

IVORY COAST REFINERY
Ivory Coast will organise debt relief for the state oil
refinery using public and private funds, agovernment
spokesman said on Wednesday.

MOZAMBIQUE GAS
Mozambican President Filipe Nyusi has appointed
businesswoman Leticia Klemens as his new energy minister,
just weeks after Maputo and Italy’s Eni signed a
20-year deal to sell BP liquefied natural gas (LNG).

RWANDA BANK
Attijariwafa Bank , one of Morocco’s biggest banks,
has signed an agreement to buy Rwandan bank Compagnie
Générale de Banque Limited (Cogebanque), the bank said on
Wednesday.

EU MIGRATION
Encouraged by their success in halting a mass influx of
refugees by closing Greek borders and cutting a
controversial deal with Turkey, EU leaders are getting tough
on African migrants too.