The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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GLOBAL MARKETS
Asian shares erased earlier gains on Wednesday, swinging
into negative territory as a spike in new Chinese virus
cases sent Hong Kong stocks tumbling and fuelled fears about
the economic impact of the outbreak. MKTS/GLOB
WORLD OIL PRICES
Oil prices rose for a second day on Wednesday, standing on
firmer ground after a five-day fall on talk OPEC could
extend oil cuts if a new coronavirus hurts demand, while
data showing a decline in U.S. stockpiles helped steady
prices. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand clawed back losses on Tuesday, firming
slightly alongside local bonds as a selloff triggered by the
spread of the coronavirus was halted by technical factors
curbing big movements in either direction. ENGLISH
Ask a Nigerian what corrupt politicians do with public funds
and he or she may say, "They chop it." The Oxford English
Dictionary agrees. MARKETS
The Kenyan shilling KES= was broadly stable on Tuesday
with inflows from remittances and portfolio investors buying
government debt helping meet end month dollar demand from
merchandise importers, traders said. ECONOMY
Kenya's economy is forecast to grow 6.2% this year, up from
5.7% last year, central bank governor Patrick Njoroge said
on Tuesday, as regional trade shields Kenya from the effects
of a global downturn. COAST POLITICS
Former Ivory Coast rebel leader Guillaume Soro said on
Tuesday he would not drop out of presidential elections set
for the end of the year, despite an arrest warrant out
against him. MARKETS
The Ugandan shilling UGX= traded in the same position on
Tuesday, amid subdued appetite for hard currency from both
commercial banks and merchandise importers. FASO SECURITY
Thirty-nine people were killed in northern Burkina Faso on
Saturday, in what the government called a terrorist attack
on a village in Soum province. ECONOMY
The International Monetary Fund forecast that Ethiopia's
economy will grow at 6.2% in the 2020 fiscal year, it said
in a statement on Tuesday, well below the government
forecast of 10.8% but in line with World Bank
estimates. AFRICAN REPUBLIC SECURITY
Militia infighting in Central African Republic (CAR) killed
around 40 people over the weekend and forced several hundred
from their homes, local authorities said on
Tuesday. the latest precious metals report click on GOL/
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