African Markets - Factors to watch on Jan. 27

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Jan. 27
Credit: © Reuters.

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

- - - - - EVENTS: *Turkish President Tayyip Erdogan visits Africa *Kenya's central bank sets benchmark lending rate *Court hearing set for Tanzania's jailed journalist Erick Kabendera

GLOBAL MARKETS Stocks tumbled on Monday as investors grew increasingly anxious about the economic impact of China's spreading virus outbreak, with demand spiking for safe-haven assets such as the Japanese yen and Treasury notes. MKTS/GLOB

WORLD OIL PRICES Crude prices fell more than 2% to multi-month lows on Monday as the rising number of cases of the new coronavirus in China and city lockdowns there deepened concerns over oil demand, even as Saudi Arabia's energy minister sought to calm the market. 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 The South African rand was little changed on Friday, as global markets steadied after an outbreak of coronavirus in China. RATES Nigeria's central bank raised the cash reserve ratio for banks for the first time in four years to curb excess liquidity on the banking system, which it said is contributing to inflation, Governor Godwin Emefiele said on Friday. MARKETS The Kenyan shilling KES= was firm on Friday amid thin dollar demand with most market players staying on the sidelines ahead of the central bank's monetary policy committee meeting on Monday, traders said. MARKETS The Ugandan shilling UGX= held firm against the dollar on Friday, supported by hard currency inflows from charities and offshore investors into government securities.

CONGO DEBT Congo Republic's public debt could be more than one-third higher than the International Monetary Fund estimated when it awarded a bailout last year because of liabilities held by the state oil company, environmental and rights group Global Witness said on Monday. ECONOMY Zimbabwe's central bank has frozen an account of a Chinese company it accused of manipulating the local currency, which lost ground against the dollar on the black market this week. POLITICS Burundi's ruling party, the CNDD-FDD, on Sunday picked secretary general Evariste Ndayishimiye as its candidate in a presidential election scheduled for May. SECURITY About 20 soldiers were killed in a pre-dawn attack on an army camp in central Mali on Sunday, the government said. 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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