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African Markets - Factors to watch on Dec. 9

Published 09/12/2020, 06:25
Updated 09/12/2020, 06:30
African Markets - Factors to watch on Dec. 9
USD/KES
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USD/UGX
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RSG
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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 rose to a record high and U.S. stock futures
gained on Wednesday as investors tracked positive news on
COVID-19 vaccines and ongoing efforts to launch more fiscal
stimulus. MKTS/GLOB

WORLD OIL PRICES
Asian spot liquefied natural gas (LNG) prices jumped on
Tuesday, with a cargo trading 11 percent higher than another
deal on Friday, as supply of the super-chilled fuel has been
disrupted in some parts and as shipping rates have gone up,
traders said. 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 soared to its firmest in 10 months on
Tuesday after third quarter economic growth expanded by more
than expected, easing some of the concerns in recent weeks
over a resurgence in COVID-19 infections. MARKETS
The Kenyan shilling KES= was stable against the dollar on
Tuesday mainly due to lower demand for hard
currency. ELECTION
The two leading candidates in Ghana's presidential election
said on Tuesday they are confident of victory based on their
own tallies, as the schedule for the announcement of
official results was delayed. CONFLICT
A United Nations team visiting refugees in Ethiopia's
war-hit Tigray region had failed to stop at two checkpoints
when it was shot at over the weekend, the government said on
Tuesday, proclaiming it did not need a
"baby-sitter". POLITICS
Democratic Republic of Congo President Felix Tshisekedi
gained an upper hand on Tuesday in his power struggle with
his predecessor Joseph Kabila as parliament voted to
authorise a motion to remove a Kabila ally as
speaker. MOZAMBIQUE INSURGENCY
The insurgency in northern Mozambique is a "committed"
affiliate of Islamic State and should be seen as a global
terrorism issue, the U.S. counterterrorism coordinator said
on Tuesday, pledging to support the government against the
militant group. MINING
Australia's Resolute Mining RSG.AX confirmed that a strike
over COVID-19 policy began at its Syama gold mine in Mali on
Monday but said production had continued and it did not
expect any material impact to its 2020 production
guidance. INFLATION
Zimbabwe's inflation rate eased to 401.66% in November
year-on-year from 471.25% the previous month, statistical
agency Zimstats said on Tuesday. ZAMBIA DEBT/ IMF
Zambian authorities formally requested a financing
arrangement from the International Monetary Fund (IMF), the
Fund said on Tuesday, to help the southern African copper
producer navigate a debt crisis. UGANDA MARKETS
The Ugandan shilling UGX= held steady on Tuesday, although
some demand from energy importers was likely to put it under
pressure to weaken. 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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