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Africa, Forex

African Markets – Factors to watch on January 22

NAIROBI, Jan 22 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS Asian stock markets bounced on Wednesday as China’s response to a virus outbreak tempered fears of a global pandemic, although Shanghai shares slipped amid worries about a hit to domestic demand and tourism. WORLD OIL PRICES Oil prices eased on Wednesday, extending declines as the International Energy Agency (IEA) forecast a market surplus in the first half, helping ease concerns about disruptions that have slashed Libya’s crude output. 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 dipped to a new five-week low on Tuesday, with the currency struggling for momentum as a weak domestic economic outlook failed to provide a basis for optimism. KENYA MARKETS The Kenyan shilling was stable on Tuesday and was expected to trade in a narrow range supported by dollar inflows from horticulture exports and Diaspora remittances, traders said. NIGERIA OIL Nigerian oil firm Lekoil has reached a deferred payment deal to keep ownership of an oilfield, the company said in a statement on Tuesday, after it discovered the loan it wanted to use for the purchase was fraudulent. NIGERIA CORRUPTION Nigeria’s financial crimes watchdog charged a former attorney general suspected of taking bribes to facilitate a $1.3 billion oil block sale, the agency said on Tuesday, in the latest twist in one of the industry’s biggest alleged corruption scandals. IVORY COAST Ivory Coast has asked the World Bank for help in eliminating illegal cocoa output from protected forests and resettling people farming there, as it steps up efforts to both end deforestation and deter excess cocoa production. 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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