African Markets - Factors to watch on Feb.3

Published 03/02/2020, 07:34
Updated 03/02/2020, 07:36
© Reuters.  African Markets - Factors to watch on Feb.3

NAIROBI, Feb 3 (Reuters) - The following company announcements, scheduled economic

indicators, debt and currency market moves and political events may affect African markets on

Monday.

- - - - -

EVENTS:

*MALAWI - The constitutional court expected to deliver a

ruling in a case brought by opposition parties against the

electoral commission's declaration of incumbent Peter

Mutharika as the winner of a May 2019 presidential election.

GLOBAL MARKETS

Asian shares stumbled on Monday, oil skidded and commodities

on Chinese exchanges plunged on their first trading day

after a long break on fears the coronavirus epidemic will

hit demand in the world's second-largest economy.

MKTS/GLOB

WORLD OIL PRICES

Oil prices extended their losses on Monday, dragged down by

worries about lower demand in China, the world's largest oil

importer, following a coronavirus outbreak

there. 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 kept tumbling on Friday, sliding to a

new 12-week low after the World Health Organization declared

the coronavirus a global emergency, compounding local

economic issues faced by the currency. PETROLEUM

Lawyers representing former Nigerian oil minister Dan Etete

told Reuters on Friday it was "incredible" that a court had

issued a warrant for his arrest in relation to a $1.3

billion oil deal scandal nine years after it was

struck. AFRICA TRAVEL BANS

Eritrea denounced a U.S. ban on immigrant visas for its

citizens as "unacceptable" on Saturday, while Nigeria's

government said it had created a committee to address the

issues that prompted U.S. President Donald Trump to add the

country to the ban. MARKETS

The Kenyan shilling KES= was firm on Friday helped by

inflows from offshore investors buying government debt amid

thin dollar demand from the energy sector, traders

said. EAST AFRICAN BREWERIES EARNINGS

Kenya's East African Breweries (EABL) EABL.NR posted a 9%

jump in pretax profit to 10.6 billion shillings ($105.21

million) for its first half to the end of December, it said

on Friday. AFRICAN AIRLINES CHINA TRAVEL

Kenya Airways KQNA.NR and RwandAir said on Friday that

they had suspended all flights to and from China until

further notice after a virus outbreak killed more than 200

people in China and spread to 18 countries. REPUBLIC OF CONGO SECURITY

Suspected Islamist militants killed at least 62 civilians in

a series of attacks this week in eastern Democratic Republic

of Congo, where the army is waging a counter-insurgency

campaign against the rebels, the government said on

Saturday. DAM

Ministers from Egypt, Ethiopia and Sudan said on Friday a

final agreement will be signed by the end of February on the

giant Blue Nile hydropower dam that sparked a years-long

diplomatic crisis between Cairo and Addis Ababa. PETROLEUM

Exxon Mobil Corp XOM.N and Total TOTF.PA have asked

Mozambique to send more troops to guard their operations in

the far north after a surge of attacks by Islamist

militants, an industry source and two security consultants

said. 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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