The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
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GLOBAL MARKETS
Asian share markets found some stability on Tuesday after a
wave of early selling petered out and Wall Street futures
managed a solid bounce, allowing investors to take a
breather from coronavirus fears.
MKTS/GLOB
WORLD OIL PRICES
Oil rose on Tuesday as investors snapped up bargains after
crude benchmarks dropped almost 4% in the previous session,
but fears that the spreading coronavirus could wreak far
greater economic damage than initially thought capped gains.
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand tumbled more than 1% while stocks
plunged to a two-month low as a sharp rise coronavirus cases
overseas combined with concerns about the upcoming budget
speech knocked down local assets.
ECONOMY
Nigeria's economic growth rose to an annual rate of 2.55% in
the three months to the end of December, its highest
quarterly growth since a 2016 recession, the statistics
office said on Monday.
MARKETS
Nigerian banking shares .NGSEBNK10 dropped 4.72% on Monday
to notch up their biggest decline in nineteen weeks, traders
said.
AVIATION
Nigeria has selected a consortium including Egypt Air to set
up an aviation leasing company as part of a government plan
to overhaul the country's aviation sector.
MARKETS
The Kenyan shilling KES= was firm on Monday mainly due to
stable demand for dollars by importers, traders said.
BUDGET
Rwanda's Finance Minister Uzziel Ndagijimana on Monday asked
parliament to raise the government's spending for the
financial year to June by 4.8%.
WIND FARM
Africa Finance Corporation (AFC) is investing $63 million to
build and operate a 60 megawatt (MW) wind farm in Djibouti,
the Lagos-based development financier said on Monday.
GEMFIELDS
Artisanal miners torched a car belonging to miner Gemfields'
GEMGE.L, GMLJ.J Mozambique operation on Saturday and
attacked the occupants with pickaxes, injuring three
employees and one security contractor, the company said.
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