Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on January 14

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. – – – – – GLOBAL MARKETS Asian shares hit a 7-month high, China’s yuan jumped and safe-harbour assets slipped on Tuesday, amid signs of goodwill between China and the United States, as the world’s two biggest economies prepared to sign a truce in their trade war. WORLD OIL PRICES Oil prices edged higher on Tuesday as investors focused on the signing of a preliminary trade deal between the United States and China, the world’s top oil consumers, and on expectations of a drawdown in U.S. crude oil inventories. 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 Monday ahead of a central bank meeting later in the week and key economic data that investors will use to gauge how the economy is performing. KENYA MARKETS The Kenyan shilling was stable against the dollar on Monday supported by inflows from non-governmental organizations and offshore investors buying government debt, traders said. KENYA BONDS Kenya’s first green bond was listed for trading on the Nairobi Securities Exchange on Monday, offering investors the chance to put money into an environmentally-friendly fixed income security for the first time in the bourse’s 65 year history. NIGERIA OIL Trading in shares of Nigerian oil company Lekoil was suspended on the London Stock Exchange on Monday when the company said it had discovered that an announced $184 million loan agreement with the Qatar Investment Authority was fraudulent. NIGERIA CENTRAL BANK Nigeria’s central bank has rescheduled its first monetary policy committee meeting of 2020 to Jan. 23 and 24, it said in a tweet on Monday. ZIMBABWE ECONOMY Zimbabwe’s finance minister maintained on Monday that the country’s economy would grow 3% this year despite poor rains that have hurt some crops and persistent power cuts that have hit mines and industry. WEST AFRICA SECURITY France and five West African states agreed on Monday to combine their military forces under one command structure to fight a growing Islamist militancy in the Sahel region, with Paris committing an extra 220 troops. 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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