African Markets - Factors to watch on Feb.20

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Feb.20
Credit: © Reuters.

NAIROBI, Feb 20 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

- - - - - GLOBAL MARKETS Asian stocks edged up on Thursday, supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic, while the Japanese yen nursed heavy losses after suffering its steepest drop in six months. MKTS/GLOB

WORLD OIL PRICES Oil prices rose nearly 1% on Thursday, extending big gains from a day earlier, as the market worried about crude supply disruptions and demand concerns were cushioned after a sharp drop in new coronavirus cases at the epicentre of the outbreak. 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 firmed on Wednesday as data showed an uptick in consumer inflation but the January figure of 4.5% remained well below the central bank's upper target range, supporting the currency's carry-trade appeal. MARKETS The Kenyan shilling KES= was under pressure on Wednesday due to increased dollar demand from merchandise importers and the energy sector, traders said. AFRICA U.S. Secretary of State Mike Pompeo took a veiled swipe at China during a speech to Ethiopian business leaders on Wednesday, in an apparent amplification of U.S. criticism that Chinese lending for big infrastructure projects pushes poor countries into debt. PRIVATE EQUITY Grand Parade Investments (JO: GPLJ ) (GPI) Ltd GPLJ.J said on Wednesday it is selling the Burger King South Africa franchise and a related burger-making plant to private equity firm ECP Africa Fund for 697 million rand ($47 million). AFRICA MINING South African mining company Sibanye-Stillwater SSWJ.J reported a near 80% surge in full year earnings on Wednesday following a rebound in the second half on the back of rising precious metals prices and the inclusion of its Marikana operations. LOCUSTS Kenyan farmer Mwende Kimanzi said planes started spraying as soon as the swarm of desert locusts appeared but it was not enough to save her crops. 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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