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African Markets - Factors to watch on Dec. 14

Published 14/12/2020, 06:01
African Markets - Factors to watch on Dec. 14
USD/KES
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USD/UGX
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3993
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603993
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The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
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GLOBAL MARKETS
Stocks started a busy week with guarded gains as investors
gauged the chance of added U.S. fiscal and monetary
stimulus, while the British pound rose in relief as a
last-gasp extension to Brexit talks dodged a hard
divorce. MKTS/GLOB

WORLD OIL PRICES
Oil prices rose on Monday, pushing Brent back above $50 a
barrel, buoyed by hopes that a rollout of coronavirus
vaccines will lift global fuel demand, while an extension of
Brexit talks eased jitters on that front for
now. O/R

EMERGING MARKETS
For the top emerging markets news, double click on
STOCKS
For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS
South Africa's rand retreated on Friday, with the enthusiasm
that lifted the currency to a 10-month high earlier in the
week fading as a new wave of coronavirus infections locally
and abroad brought underlining economic risks back into
play. OIL
Two workers were injured in a fire at Nigeria's Qua Iboe
crude oil export terminal, a spokesman for operator
ExxonMobil said on Sunday. CORONAVIRUS
Nigeria's army headquarters was isolating due to a COVID-19
outbreak during an annual conference, a spokesman said on
Sunday, after health officials warned of a second wave of
the disease in Africa's most populous nation. MARKETS
The Kenyan shilling KES= held steady against the dollar on
Friday as demand for hard currency remained subdued, traders
said. CORRUPTION
The head of Kenya's energy sector regulator has been
arrested over accusations he demanded a $1,800 bribe to
reopen a shuttered petrol station, the Ethics and
Anti-Corruption Commission (EACC) said on
Friday. MARKETS
The Ugandan shilling UGX= was flat on Friday as subdued
appetite for hard currency among commercial banks and
importers continued to offer support. SOCCER
The coach of Zambia's national soccer team, Milutin
Sredojevic, was charged with sexual assault on Friday
following an incident involving a waitress in the South
African coastal city of Port Elizabeth, prosecutors
said. CONFLICT/SUDAN
Sudan's Prime Minister Abdalla Hamdok visited Ethiopia
briefly on Sunday with what three senior Sudanese government
officials said was an offer to broker a ceasefire in its
northern Tigray region, a proposal Ethiopia said was
unnecessary because fighting had stopped. INSURGENCY/PORTUGAL
Portugal said on Friday it would help Mozambique train up
security forces to tackle a wave of militant attacks in the
north of the African nation. MINING
China Molybdenum Co 603993.SS , 3993.HK said on Sunday it
had acquired a 95% stake in the Kisanfu copper-cobalt mine
in the Democratic Republic of Congo (DRC) from U.S.-based
Freeport-McMoRan Inc FCX.N for $550 million. For the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L

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