Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on Dec. 9

NAIROBI, Dec 9 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – EVENTS: UGANDA – The Bank of Uganda is due to announce its main lending rate. GLOBAL MARKETS Asian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong U.S. jobs data although regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-U.S. trade war. WORLD OIL PRICES Oil prices fell on Monday after data showing China’s overall exports of goods and services shrank for a fourth straight month, sending shivers through a market already concerned about damage being down to global demand by the Sino-U.S. trade war. 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 was barely changed in late trade on Friday, with fresh optimism over Sino-U.S. trade talks helping the currency to weather stronger employment numbers from the United States. NIGERIA OIL Lawyers for the Nigerian government filed “new and substantive” allegations of fraud with a British court on Friday, carrying on a fight against an arbitration award now worth close to $10 billion, a spokesman for the attorney general said. KENYA MARKETS The Kenyan shilling extended its recent gains on Friday, supported by hard currency inflows from offshore investors buying government debt amid tight local currency liquidity conditions. KENYA POLITICS Kenyan police arrested on Friday the Nairobi County governor, known for his chunky gold jewellery and impromptu raps, on corruption charges, a high profile move in the government’s much trumpeted anti-graft push. KENYA SECURITY Kenyan police officers were among those killed when gunmen suspected to be from Islamist militant group al Shabaab attacked a bus on Friday near the border with Somalia, President Uhuru Kenyatta’s office said on Saturday. DEMOCRATIC REPUBLIC OF CONGO HEALTH An Ebola survivor has fallen ill with the disease for a second time in eastern Congo, the Congolese health authorities said on Sunday, saying it was not yet clear if it was a case of relapse or reinfection. ANGOLA ECONOMY The IMF has approved a second tranche of a $247 million loan to be paid to Angola under its Extended Fund Facility following a review of the southern African oil producer’s progress under the program. 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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