Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on January 20

NAIROBI, Jan 20 (Reuters) – 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 neared a 20-month top on Monday as Wall Street extended its run of record peaks on solid U.S. economic data and lashes of liquidity from the Federal Reserve. WORLD OIL PRICES Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. 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 African stocks rose to near seven-month highs on Friday, underpinned by gains in heavyweight Richemont and mining firms, while the rand fell against a broadly stronger dollar. KENYA MARKETS The Kenyan shilling was firm on Friday supported by inflows from the horticulture sector and diaspora remittances, traders said. KENYA LOANS Kenya is in advanced talks with the World Bank for “a fairly priced” loan of up to 100 billion shillings ($991.57 million), nearly half of its required external funding this fiscal year, a senior Treasury official said on Friday. KENYA INFRASTRUCTURE Hundreds of mismanaged infrastructure projects have stalled in Kenya and it will cost around $10 billion to revive them, the IMF said in a report whose findings point to a growing power struggle at the heart of government. NIGERIA LOANS Nigeria plans to talk to concessionary lenders about 850 billion naira ($2.8 billion) external borrowings earmarked in its 2020 budget, the head of the debt office said on Friday. NIGERIA BONDS Nigeria plans to issue sukuk bonds worth 150 billion naira ($490 mln) on the local market this year, the Debt Management Office said on Friday. NIGERIA INFLATION Annual inflation in Nigeria rose for the fourth straight month in December, marking the longest run of increases in almost two years as prices climbed across all categories measured by the statistics bureau. 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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