Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on January 15

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS Stocks slipped in Asian trade on Wednesday as investors awaited the signing of an initial U.S.-China trade deal, with sentiment somewhat dented by comments from the U.S. Treasury Secretary that tariffs would remain in place for now. WORLD OIL PRICES Oil prices slipped on Wednesday on concerns that the pending Phase 1 trade deal between the United States and China, the world’s biggest crude users, may not lead to more fuel demand as the U.S. intends to keep tariffs on Chinese goods in place. 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 slumped to a one month-low on Tuesday, as data pointed to continued weakness in the economy, while a surge in Woolworths Holdings and Old Mutual led stocks higher. KENYA MARKETS The Kenyan shilling firmed against the dollar on Tuesday supported by inflows from offshore investors buying stocks and government debt amid thin importer demand, traders said. KENYA ECONOMY Kenya’s president confirmed on Tuesday his acting finance minister would take the job permanently, during a cabinet reshuffle that put his allies in key positions amid a growing power struggle between the president and his deputy. NIGERIA OIL Shares in Nigerian oil company Lekoil Ltd plunged more than 70% on Tuesday following a suspension of trading after the firm discovered that a $184 million loan it had announced was fraudulent. SUDAN SECURITY Armed ex-security agents linked to Sudan’s toppled ruler Omar al-Bashir fought soldiers in the capital Khartoum for hours until government forces quelled the revolt late on Tuesday, residents and a military source said. 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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