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Africa, Forex

African Markets – Factors to watch on January 21

NAIROBI, Jan 21 (Reuters) – 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 took a sudden lurch lower on Tuesday as mounting concerns about a new strain of pneumonia in China sent a ripple of risk aversion through markets. WORLD OIL PRICES Oil prices eased on Tuesday as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade. 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 fell to a five-week low against the dollar on Monday as domestic woes hurt the currency’s carry yield attraction and stocks ended a six-session winning streak. KENYA MARKETS The Kenyan shilling was firm on Monday supported by inflows from the agricultural sector and offshore investors buying stocks and government debt, traders said. AFRICA INVESTMENT UK government-owned finance agency the CDC Group has signed $400 million worth of African investment deals, part of a wider drive by Britain to develop new trade ties as it prepares to leave the European Union. IVORY COAST COCOA Light showers in some of Ivory Coast’s cocoa regions last week are likely to have boosted the April-to-September mid-crop, while heavier rain is needed elsewhere, farmers told Reuters on Monday. NIGERIA OIL London-listed Savannah Petroleum’s told Reuters on Monday it would consider oil and gas acquisitions in Nigeria opportunistically, calling a purchase completed late last year the starting kit for further expansion. 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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