Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on Nov. 25

(REFILE with the right date) NAIROBI, Nov 25 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – GLOBAL MARKETS World shares rallied to a record peak on Wednesday, following an overnight surge that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook. WORLD OIL PRICES Oil rose for a fourth straight day on Wednesday, shrugging off an industry report showing a higher-than-unexpected rise in U.S. crude stockpiles and extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. 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 gained on Tuesday as appetite for riskier assets grew after U.S. President Donald Trump accepted the transition to a Joe Biden presidency. KENYA MARKETS Kenya’s shilling edged down on Tuesday due to increased dollar demand from importers as they close their end-of-month obligations, traders said. NIGERIA CENTRAL BANK Nigeria’s central bank held its benchmark lending rate at 11.5% on Tuesday, its governor Godwin Emefiele said. ETHIOPIA CONFLICT Ethiopia’s state-appointed rights watchdog accused a Tigrayan youth group on Tuesday of killing hundreds of civilians as federal and local forces both claimed advances in a three-week war in the country’s mountainous north. BURKINA FASO ELECTION Burkina Faso President Roch Kabore held a large lead on Tuesday in early results from the weekend’s election, as opposition members of the electoral commission boycotted the process following allegations of fraud. ANGOLA DEBT Angola hopes to get “breathing space” on its debt for the next three years after negotiations with its main creditors, its finance minister said on Tuesday. MALAWI CANNABIS Malawi is ready to start commercial production and processing of cannabis for medicinal and industrial use, the southern African country’s new Cannabis Regulatory Authority said on Tuesday. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.