African Markets - Factors to watch on Dec. 31

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Dec. 31
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

- - - - - EVENTS: *Kenya is due to release quarter three GDP growth figures, latest inflation numbers

*Uganda's statistics office releases inflation data

GLOBAL MARKETS Asian shares slipped on the last trading day of the decade, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month. MKTS/GLOB

WORLD OIL PRICES Oil prices edged lower on the final day of the year on Tuesday, but were on track for their biggest annual rise since 2016, supported by a thaw in U.S.-China trade dispute and ongoing supply cuts. 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 slipped back from a five-month high in thin trade on Monday, while shares in telecoms firm MTN MTNJ.J fell after the company was named in a complaint lodged in a U.S. court. MARKETS The Kenyan shilling KES= was under pressure on Monday due to oil and merchandise importers buying dollars to meet end-month obligations, traders said. BLAST Islamist group al Shabaab on Monday claimed responsibility for a bomb blast in Mogadishu that killed at least 90 people over the weekend while Somalia said a foreign government that it did not identify helped plan the attack. COAST COCOA There was no rain last week in most of Ivory Coast's cocoa-growing regions, but late and mild Harmattan winds this year have boosted expectations of strong harvests during the first two months of 2020, farmers said on Monday. MARKETS The Ugandan shilling UGX= was stable on Monday on the back of flat appetite for dollar from both players in the interbank market and merchandise importers. DEBT Uganda said it plans to borrow 6.9 trillion shillings ($1.89 billion) from external lenders in the 2020/2021 (July-June) fiscal year to partly finance its budget, which could come under pressure as veteran leader Yoweri Museveni seeks re-election. SECURITY Islamist militants have killed 18 people in an attack on a village in eastern Congo, a regional official and a local human rights group said on Monday, the latest in a 60-day counter-offensive that has killed nearly 200 civilians. BISSAU ELECTION Former army general and ex-Prime Minister Umaro Cissoko Embalo said on Monday he was on course to win Guinea Bissau's presidential election and his opponent urged the nation to await official results. the latest precious metals report click on GOL/

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