African Markets - Factors to watch on Jan. 28

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Jan. 28
Credit: © Reuters.

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

- - - - - EVENTS: *Turkish President Tayyip Erdogan visits Senegal

GLOBAL MARKETS Asian stocks extended a global selloff on Tuesday as China took more drastic steps to combat a deadly new coronavirus, while bonds shone on expectations central banks would need to keep stimulus flowing to offset the likely economic drag. MKTS/GLOB

WORLD OIL PRICES Oil futures slipped on Tuesday, extending losses into a sixth session as the spread of a new virus in China and other countries raised concerns about a hit to economic growth and slower oil demand. 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 plunged to a one week-low while stocks sank by more than two percent on Monday as the outbreak of a deadly virus in China worsened, dimming demand for risk assets globally. USA IMMIGRATION Nigeria had no warning from Washington that it could be added to the list of countries subject to a U.S. travel ban, information minister Lai Mohammed said on Monday, adding such a move would be "hasty" and send the wrong signal to investors. TRANSPORTATION Nigeria's business capital of Lagos will ban commercial motorcycles from operating in large parts of the city, the state government announced on Monday, a move that could change the commute for thousands and threaten ride-hailing startups. MARKETS The Kenyan shilling KES= was broadly stable against the dollar on Monday with market players eyeing a central bank monetary policy meeting later in today's session, traders said. RATES Kenya's central bank cut its benchmark lending rate KECBIR=ECI on Monday for the second time in a row, saying the economy was operating below potential and there was room for a more accommodative monetary policy. MARKETS The Ugandan shilling UGX= was unchanged on Monday but traders said it could draw some strength from inflows targeting this week's planned Treasury bill auction. RIGHTS Rwanda, often lauded internationally for its economic progress and reintegration after the 1994 genocide, is detaining and abusing street children at a holding centre in the capital, an international rights group said Monday. ECONOMY Zimbabwe's tax agency on Monday ordered businesses charging their customers in foreign currency to also settle their tax obligations in foreign currency, as the government aims to raise scarce dollars. COAST COCOA

Farmers in Ivory Coast's cocoa regions said on Monday more rain was needed to boost the April-to-September mid-crop following hot, dry weather last week and only patchy rainfall before that. the latest precious metals report click on GOL/

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