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Africa, Forex

African Markets – Factors to watch on January 13

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. – – – – – GLOBAL MARKETS Asian shares rose to new 19-month highs on Monday ahead of the expected signing on a Phase 1 China-U.S. trade deal, although markets have yet to see the details of the agreement. WORLD OIL PRICES Oil prices held steady on Monday as fears of conflict between the United States and Iran eased, with investors shifting their focus to this week’s scheduled signing of an initial U.S.-China trade deal, which could boost economic growth and demand. 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 weakened against the dollar on Friday as power cuts weighed on the economy, while investors awaited a key interest rate decision from the central bank next week. KENYA MARKETS The Kenyan shilling was steady against the dollar on Friday and traders said inflows from investors abroad into the local debt market could offer further support. KENYA TOURISM Kenya’s earnings from tourism rose 3.9% last year to 163.56 billion shillings ($1.61 billion), thanks to a slight increase in the number of visitors, its tourism minister said on Friday. ETHIOPIA ELECTION Ethiopia will hold a parliamentary election in May or June despite concerns about security and logistics, Prime Minister Abiy Ahmed said on Sunday. The election will be the first under Nobel Peace Laureate Abiy, who took office in April 2018 and launched political and economic reforms. NIGERIA TELECOMS Nigeria’s attorney general has withdrawn a $2 billion tax demand against South African telecoms giant MTN Group , the company and attorney general said on Friday, in a closely watched case that investors say has damaged Nigeria’s appeal. EQUATORIAL GUINEA OIL Equatorial Guinea will add 20,000 barrels per day (bpd) of oil production by October, the country’s oil minister said on Sunday. NIGER SECURITY the death toll from Thursday’s attack by suspected jihadists on a Niger army base has risen to at least 89, four security sources said, surpassing a raid last month that killed 71 soldiers as the deadliest against Nigerien forces in years. 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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