Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on Oct 20

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. – – – – – EVENTS: GHANA – The statistics office releases September Producer Price Inflation. The rate was 8.1% in the year to August. GLOBAL MARKETS Asian shares advanced and U.S. long-dated bond yields edged up to a five-month high on Wednesday on rising optimism about the global economy and corporate earnings while the yen slipped to a four-year low on the dollar. WORLD OIL PRICES Oil futures rose on Tuesday and were near multi-year highs as an energy supply crunch continued across the globe, while falling temperatures in China revived concerns over whether the world’s biggest energy consumer can meet domestic heating needs. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on AFRICA CLIMATE CHANGE Africa’s fabled eastern glaciers will vanish in two decades, 118 million poor people face drought, floods or extreme heat, and climate change could shrink the continent’s economy by 3% by mid-century, the U.N. climate agency warned on Tuesday. AFRICA CLIMATE FINANCE African countries want a new system to track funding from wealthy nations that are failing to meet a $100-billion annual target to help the developing world tackle climate change, Africa’s lead climate negotiator said. SOUTH AFRICA MARKETS South Africa’s rand rose on Tuesday, gaining back some ground lost a day earlier thanks to a softer dollar, while stocks closed little changed as they struggled for direction. NIGERIA SECURITY Nigerian troops killed 24 suspected Islamist insurgents in two attacks in the northeast and recovered some weapons, the army said on Tuesday. KENYA MARKETS The Kenyan shilling edged down on Tuesday as demand for dollars continued to outweigh the available supply. MOZAMBIQUE CREDIT SUISSE Credit Suisse Group AG CSGN.S will pay about $475 million to American and British authorities to resolve bribery and fraud charges relating to a $2 billion Mozambican corruption scandal, while its subsidiary pleaded guilty to a conspiracy charge in New York, U.S. and UK agencies 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


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