January 8, 2019 / 5:02 AM / 6 months ago

African Markets - Factors to watch on Jan. 8

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
    - - - - -
 EVENTS:
 *Madagascar's high court expected to announce presidential
 results
 *Ex-head of Ethiopian military conglomerate METEC due in
 court
 *Mozambique ex-finance minister faces extradition hearing
 
 
 GLOBAL MARKETS
 Most Asian shares were propped up on Tuesday by hopes that
 Washington and Beijing may be inching towards a trade deal
 and that U.S. Federal Reserve would halt its tightening if
 economic growth slows further.                       
 
 WORLD OIL PRICES
 Oil prices were stable on Tuesday, supported by hopes that
 talks under way in Beijing involving U.S. and Chinese
 officials could end trade disputes between the world's
 biggest economies, while OPEC-led supply cuts also tightened
 markets.                 
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 The South African rand strengthened against the dollar on
 Monday, adding to strong gains last week as dovish comments
 by the Federal Reserve chair hurt the U.S.
 currency.            
 
 
 
 KENYA MARKETS
 The Kenyan shilling        firmed against the dollar on
 Monday due to inflows from horticulture exports and offshore
 investors buying government debt meeting dollar demand from
 oil importers, traders said.            
 
 
 
 KENYA TOURISM
 Kenya's earnings from tourism jumped by almost a third in
 2018 from the previous year to 157.4 billion shillings
 ($1.55 billion), after the number of visitors rose by 37
 percent, the tourism ministry said on Monday.            
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        weakened slightly on Monday,
 undercut by an uptick in demand from manufacturing firms and
 players in the interbank market, traders said.            
 
 
 
 GABON COUP
 Gabon foiled an attempted military coup on Monday, killing
 two suspected plotters and capturing seven others just hours
 after they took over state radio in a bid to end 50 years of
 rule by President Ali Bongo's family.                
 
 
 
 TANZANIA COFFEE
 A Tanzanian ban on exporting raw coffee is unlikely to have
 a significant impact since the industry already processes
 much of its output, a union official said on
 Monday.            
 
 
 
 OPHIR EQUATORIAL GUINEA
 Ophir Energy Plc          said it expects to report a
 non-cash write down of $300 million in its full-year results
 after being denied the extension of a block licence which
 houses a liquid natural gas project in Equatorial
 Guinea.            
 
 
 
 GAMBIA POLITICS
 Yahya Jammeh was going to be "trouble" for Gambia from the
 moment he seized power, the first witness to a commission
 convened to investigate rights abuses under his presidency
 said on Monday.             
 
 
 
 MOZAMBIQUE CREDIT SUISSE
 Mozambique has indicted 18 citizens for their involvement in
 fraud involving $2 billion in loans to state-owned
 companies, the attorney general's office (AGO) said on
 Monday, in a scandal that has ensnared two major
 international banks.                
 
 
 
 
 SUDAN PROTESTS                
 Sudan said on Monday it had detained more than 800 people
 since protests began nearly three weeks ago in the most
 persistent challenge to President Omar al-Bashir's
 three-decade rule.            
 
 
 
 ZIMBABWE ECONOMY
 Zimbabwe's largest brewer Delta Corporation           hiked
 beer prices by 25 percent on Monday citing high local costs,
 announcing the move days after it was forced to abandon
 another plan to accept only hard currency payments for its
 products.                
 
 
 
 ZIMBABWE ECONOMY/STRIKE
 Zimbabwean teachers will strike from Tuesday to press for
 U.S. dollar salaries as talks with the government failed to
 bring a breakthrough, a union said, adding pressure on
 President Emmerson Mnangagwa to contain a runaway currency
 crisis.               
 
 
 
 IVORY COAST COCOA
 Scarce rainfall and dry winds last week in most of Ivory
 Coast's cocoa-growing regions have raised concerns about the
 April-to-September mid-crop, farmers said on
 Monday.                
 
 
 
 CONGO ITSCI
 Congo's biggest miner of coltan, an ore that is the source
 of metals used in mobile phones, says it is leaving the
 ITSCI certification scheme, relied on by major companies as
 a guarantee that minerals are free from human rights
 abuses.                
 
 
     For the latest precious metals report click on        
     For the latest base metals report click on         
     For the latest crude oil report click on       
   
   
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below