TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
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GLOBAL MARKETS
Asian shares were mixed on Thursday after a choppy day of
Wall Street trade, thanks in part to a disappointing U.S.
jobs report, while the greenback languished near 2-1/2 year
lows on growing optimism of a coronavirus vaccine.
MKTS/GLOB
WORLD OIL PRICES
Oil prices fell on Thursday as producers including Saudi
Arabia and Russia locked horns over the need to extend
record production cuts set in place in the first wave of the
COVID-19 pandemic.
O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand weakened on Wednesday after a recent
global rally in risk currencies lost steam and as a local
dispute between the government and public sector unions over
wage increases kept investors cautious.
MARKETS
Nigeria's naira firmed on the black market to 470 to the
dollar on Wednesday, traders said, recovering from a 3-1/2
year low of 500 naira on hopes that foreign currency
liquidity could improve after the central bank eased rules
on diaspora remittances.
MARKETS
The Kenyan shilling KES= weakened against the dollar on
Wednesday and traders said the central bank had started
holding meetings with banks to discuss the emergence of a
dual foreign exchange rate system in the market.
TOURISM
Kenya's tourism sector lost close to $1 billion in revenue
between January and October, when numbers of foreign
visitors fell by two thirds due to COVID-19, the tourism
ministry said on Wednesday.
CONFLICT
Ethiopia and the United Nations agreed on Wednesday to
channel desperately-needed humanitarian aid to the northern
region of Tigray, where a month of war is believed to have
killed thousands of combatants and civilians.
SONANGOL
Angola's state oil giant Sonangol will next year accelerate
reforms and efforts to raise revenue after the pandemic
drained investor interest in an asset sale that has so far
netted only around $60 million, its CEO told Reuters in a
rare interview.
NISSAN
Japanese automotive group Nissan 7201.T is to set up a new
regional business unit for Africa as it seeks to boost
manufacturing capacity and penetrate one of the world's
biggest undeveloped new car markets.
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