African Markets - Factors to watch on Dec. 10

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Dec. 10
Credit: © 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 equities eased from a record high on Thursday as stalled U.S. stimulus talks and a sell-off in tech stocks weighed, while sterling traders sat on a knife's edge as last-ditch Brexit negotiations yielded only an agreement to keep talking. MKTS/GLOB

WORLD OIL PRICES Oil prices rose on Thursday, buoyed by a COVID-19 vaccine rollout in Britain and the imminent approval of a vaccine in the United States that could spur a rebound in fuel demand, despite a large build in U.S. crude stocks last week. O/R

EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS South Africa's rand clung to its recent gains on Wednesday, inching firmer as global risk demand and better-than-expected local economic data lifted demand for the unit. ENI (MI: ENI ) SHELL Shell's RDSa.L former international upstream head Malcolm Brinded had no reason to think that the awarding of the OPL-245 oilfield license in Nigeria was illegal, his lawyer said on Wednesday. MARKETS The Kenyan shilling KES= was stable on Wednesday as supply matched demand for dollars were evenly balanced, traders said. CORONAVIRUS Kenyan doctors on Wednesday decried the death of a 28-year-old physician from COVID-19 as the latest example of dangerous and unjust working conditions in government hospitals. ELECTION Ghana's President Nana Akufo-Addo has won a second four-year term in office, the election commission said on Wednesday, following a tightly contested vote that was tainted by violence in which five people died. CONFLICT Ethiopia's prime minister shifted focus away from war on Wednesday, opening a cross-border highway to Kenya at the opposite end of his country, while the United Nations voiced alarm at continuing fighting in the northern Tigray region. MARKETS The Ugandan shilling UGX= traded flat on Wednesday amid thin activity on both demand and supply sides. DEBT

The International Monetary Fund said on Wednesday that it will assess a possible support programme for debt-strained Zambia in the coming weeks. BANKS The amount of bad loans on the books of African banks is set to potentially double heading into next year, ratings firm Moody's warned on Wednesday. the latest precious metals report click on GOL/

For the latest base metals report click on MET/L

For the latest crude oil report click on O/L

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