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Africa, Forex

African Markets – Factors to watch on Nov 8

NAIROBI, Nov 8 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – EVENTS SEYCHELLES – Statistics office to release consumer price inflation for the year ended October GLOBAL MARKETS Asian stocks retreated from six-month highs on Friday on uncertainty over whether and when the United States and China will seal a deal marking a truce in their trade war that has slowed economic growth and roiled markets. WORLD OIL PRICES Crude oil futures fell on Friday amid lingering uncertainty on whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute, the gloom compounded by rising crude inventories in the United States. 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 South Africa’s rand resumed its advance on Thursday, brushing off a batch of depressing economic data amid renewed expectations that China and the United States will reach a trade deal. KENYA MARKETS The Kenyan shilling inched up against the dollar on Thursday on the back of foreign investor flows into the equity market after bank stocks led a rally that has lasted for days. KENYA RATES Kenya’s President Uhuru Kenyatta has signed a law that scraps a cap on banks’ commercial lending rates which had been blamed for stalling lending to businesses, his office said on Thursday. ANGOLA OIL Angola expects to announce the winners of its 2019 oil and gas licence auction round in April as part of a multi-year plan to boost declining output, a senior executive at the National Agency of Petroleum, Gas and Biofuels (ANPG) said on Thursday. ZIMBABWE MINING Zimbabwean mining firms want to retain all of their export earnings in foreign currencies, saying they are disadvantaged by having a proportion paid to them in Zimbabwe dollars. EQUATORIAL GUINEA OIL Italy’s Saipem has been awarded a contract in Equatorial Guinea worth $90-$100 million to build a 70 km subsea pipeline linking the Alen platform with the Punta Europa petrochemical hub, the oil ministry said on Thursday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on


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