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Africa, Forex

African Markets – Factors to watch on October 12

Oct 12 – 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 rallied on Monday courtesy of gains in China which also helped U.S. stock futures pare early losses, while rising Treasury yields lifted the dollar to a near-three-year peak against the Japanese yen. WORLD OIL PRICES Oil prices rose on Monday, extending multiweek gains, amid supply restraint from major producers and growing demand for fuels as economies try to recover from the coronavirus pandemic. 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 The South African rand weakened against a stronger dollar on Monday as investors remained confident the U.S. Federal Reserve would start tapering its stimulus measures this year and as a local business confidence indicator dipped. SOUTH AFRICA BMW Output at luxury carmaker BMW’s BMWG.DE main vehicle assembly plant in South Africa has been hit by a wage strike in the engineering sector by the country’s biggest metalworkers union, a company spokesperson said on Monday. UGANDA MTN MTN Uganda said on Monday it had set the price of its initial public offering for the sale of a 20% stake at 200 Ugandan shillings ($0.0558) per share, as the East African nation’s biggest telecoms operator launched the country’s biggest IPO. ETHIOPIA CONFLICT Ethiopia’s national army launched a ground offensive against forces from the northern region of Tigray on Monday, the region’s ruling Tigray People’s Liberation Front (TPLF) said. KENYA ATHLETICS Kenya’s Benson Kipruto won the men’s race and Diana Kipyogei led a Kenyan sweep of the women’s podium at the Boston Marathon on Monday, each picking up their first-ever major title. 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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