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Africa, Forex

African Markets – Factors to watch on Dec 2

NAIROBI, Dec 2 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. – – – – – GLOBAL MARKETS Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally. WORLD OIL PRICES Oil prices rose on Thursday, recouping the previous day’s losses, as investors adjusted positions ahead of an OPEC+ decision over supply policy, but gains were capped amid fears the Omicron coronavirus variant will hurt 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 The South African rand and stocks continued their recovery on Wednesday from last week’s plunge, as risk appetite returned somewhat to markets, with investors betting that the Omicron COVID-19 variant would not derail the economic recovery. KENYA MARKETS The Kenyan shilling was stable on Wednesday, trading at an all-time low hit at the start of the week due to strong demand for dollars and weak inflows, traders said. ZAMBIA COPPER Zambia’s copper production is expected to reduce to 800,000 tonnes by end of this year from 868,671 tonnes last year, Mines Minister Paul Kabuswe said in a statement on Wednesday. UGANDA-CONGO Congolese authorities on Wednesday sought to allay concerns about the arrival of Ugandan troops in eastern Democratic Republic of Congo for an ongoing joint operation against a militia linked to Islamic State. ETHIOPIA CONFLICT Ethiopian government forces and their regional allies have recaptured the town of Lalibela, a United Nations World Heritage Site, from Tigrayan forces, the prime minister’s office said on Wednesday, the latest in a string of towns the military says it has retaken. BOTSWANA CORONAVIRUS A senior Botswana health official said on Tuesday that 16 of the total 19 cases of the Omicron coronavirus variant detected in the country were asymptomatic, while President Mokgweetsi Masisi said travel bans on its citizens were unfair and unjustified. 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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