Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on January 16

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS World stocks inched ahead to a record high on Thursday after the United States and China signed an initial deal to defuse their 18-month trade war, though financial markets were wary as a number of thorny issues remained unresolved. WORLD OIL PRICES Oil prices rose on Thursday after the signing of an initial Sino-U.S. trade deal that sets the stage for a surge in Chinese purchases of American energy products, while U.S. crude inventories fell more than expected. 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 firmed against the dollar on Wednesday as November retail sales rose more than expected, giving insight into how the economy performed in the final quarter of last year. KENYA MARKETS The Kenyan shilling was stable on Wednesday and was forecast to trade in a tight range against the dollar supported by inflows from non-governmental organizations and offshore investors buying government debt, traders said. KENYA ECONOMY Kenya will no longer set wide budget deficits and will focus on boosting inadequate revenue collection and minimal borrowing, the finance minister said on Wednesday. AFRICA GOLD Small-scale mining is booming, and new gold refineries are opening by the dozen, to process metal produced by informal diggers in Africa and beyond. ETHIOPIA ELECTIONS Ethiopia proposes to hold its national vote on Aug. 16, the electoral board said on Wednesday, the first poll under Prime Minister Abiy Ahmed who has eased political restrictions and taken steps to open the economy since taking office in 2018. ETHIOPIA AIRLINES Ethiopian Airlines will start constructing a new $5 billion airport later this year, its chief executive officer was quoted as saying on Wednesday, as the rapidly-expanding carrier outgrows capacity at its current base in Addis Ababa. DEMOCRATIC REPUBLIC OF CONGO MINING The Democratic Republic of Congo’s state mining company Gécamines on Wednesday opened the Deziwa copper and cobalt mine and processing plant, part of a joint venture majority-owned by China Nonferrous Metal Mining Company (CNMC). 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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