African Markets - Factors to watch on Nov. 22

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Nov. 22
Credit: © Reuters.

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

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GLOBAL MARKETS Asian equities posted a mild bounce on Friday from three-week lows hit the previous day, with persistent worries over the status of trade negotiations between China and the United States limiting the gains. MKTS/GLOB

WORLD OIL PRICES Oil prices pulled back from their highest levels in nearly two months on Friday amid continued overtainty over whether the United States and China will be able to reach a partial trade deal that would lift some pressure on the global economy. 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 Thursday, supported by a weaker dollar and the central bank's decision to keep the repo rate unchanged, while stocks edged lower. OIL/SAVINGS Nigeria's excess crude account stood at $324.54 million as of November 20, the accountant general said on Thursday. MARKETS The Kenyan shilling KES= surged against the dollar on Thursday with inflows from offshore investors buying stocks and government debt exceeding dollar demand from merchandise importers, traders said. POLITICS Ethiopia's ruling coalition on Thursday approved the merger of three of its four ethnic-based parties into a single national one ahead of the 2020 elections, part of the prime minister's efforts to unite the country, but one of the parties boycotted the meeting and vote. MARKETS The Ugandan shilling UGX= traded unchanged on Thursday amid lacklustre activity on both counters and traders said they expected it to remain broadly stable on the back of thin importer appetite for hard currency. GRAINS Zimbabwe has removed import controls on maize and wheat flour following a severe drought that cut supplies, a cabinet minister said on Thursday. BISSAU ELECTION After weeks of political turmoil including violent protests, an alleged coup attempt and the emergence of two competing prime ministers, Guinea-Bissau is holding a presidential election on Sunday that many hope will usher in a semblance of calm. GAS Major gas discoveries offshore Senegal will enable the West African nation to switch its coal and oil-fired power plants to gas generation in the coming years, Petroleum and Energy Minister Mouhamadou Makhtar Cisse said on Thursday. CURRENCIES Kenyan and Tanzanian currencies are expected to strengthen in the coming week as Uganda's remains stable and Zambia's weakens. 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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