African Markets - Factors to watch on Jan 12

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Jan 12
Credit: © Reuters.

NAIROBI, Jan 12 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.


Asian stocks were mostly lower on Tuesday, tracking Wall Street declines as political turmoil in Washington and rising coronavirus cases worldwide weighed on sentiment ahead of the start of the quarterly earnings season. 


Oil prices slipped on Tuesday as investors remained concerned about climbing coronavirus cases globally, though an anticipated drawdown in crude oil inventory in the United States for a fifth straight week stemmed losses. 


The rand hit a two-month low on Monday as the U.S. dollar gained on further stimulus hopes, while fears of tighter domestic coronavirus restrictions weighed on the South African currency.


No quotes for the naira NGN=D1 were available on Nigeria's official market on Monday in its sixth trading session of 2021, traders said.


Dangote Cement DANGCEM.LG bought 40.2 million shares in December at 243.02 naira, the first tranche of a buyback programme set to return cash to shareholders, Nigeria's biggest listed firm said on Monday.


Portugal's largest builder Mota-Engil MOTA.LS has won the contract to build a railway line between Nigeria and neighbouring Niger, Nigeria's Transportation Minister Rotimi Amaechi said on Monday.


Kenya's shilling KES= was steady on Monday, and traders said it was expected to weaken due to dollar demand from the energy sector.


The Paris Club of international creditors said on Monday it had accepted a request from Kenya for a debt-servicing suspension from January to the end of June, an agreement the country said would help in its COVID-19 economic recovery strategy.


Uganda said on Monday it had converted some treasury bonds maturing on Jan. 21 into different, longer tenures that will now come due between 2023-2040 as a cash crunch triggered by the effects of COVID-19 squeezes state finances coffers.


Facebook FB.O has taken down a network in Uganda linked to the country's ministry of information for using fake and duplicate accounts to post ahead of this week's presidential election, the U.S. social media giant said on Monday.


Holders of around $70 million in troubled bonds issued on behalf of Air Seychelles are considering options including enforcement against the African carrier, according to sources and documents.


The International Monetary Fund said on Monday its executive board approved a disbursement to Angola of about $487.5 million after completing a fourth review of the African oil exporter's $3.7 billion loan program.

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