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African Markets - Factors to watch on Jan 12

Stock MarketsJan 12, 2021 05:48
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© Reuters.

NAIROBI, Jan 12 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
- - - - -
GLOBAL MARKETS
Asian stocks were mostly lower on Tuesday, tracking Wall Street declines
as political turmoil in Washington and rising coronavirus cases
worldwide weighed on sentiment ahead of the start of the quarterly
earnings season. MKTS/GLOB

WORLD OIL PRICES
Oil prices slipped on Tuesday as investors remained concerned about
climbing coronavirus cases globally, though an anticipated drawdown in
crude oil inventory in the United States for a fifth straight week
stemmed losses. 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
The rand hit a two-month low on Monday as the U.S. dollar gained on
further stimulus hopes, while fears of tighter domestic coronavirus
restrictions weighed on the South African currency. MARKETS
No quotes for the naira NGN=D1 were available on Nigeria's official
market on Monday in its sixth trading session of 2021, traders
said. DANGOTE CEMENT
Dangote Cement DANGCEM.LG bought 40.2 million shares in December at
243.02 naira, the first tranche of a buyback programme set to return
cash to shareholders, Nigeria's biggest listed firm said on
Monday. RAILWAY
Portugal's largest builder Mota-Engil MOTA.LS has won the contract to
build a railway line between Nigeria and neighbouring Niger, Nigeria's
Transportation Minister Rotimi Amaechi said on Monday. MARKETS
Kenya's shilling KES= was steady on Monday, and traders said it was
expected to weaken due to dollar demand from the energy
sector. DEBT
The Paris Club of international creditors said on Monday it had accepted
a request from Kenya for a debt-servicing suspension from January to the
end of June, an agreement the country said would help in its COVID-19
economic recovery strategy. BONDS
Uganda said on Monday it had converted some treasury bonds maturing on
Jan. 21 into different, longer tenures that will now come due between
2023-2040 as a cash crunch triggered by the effects of COVID-19 squeezes
state finances coffers. POLITICS
Facebook FB.O has taken down a network in Uganda linked to the
country's ministry of information for using fake and duplicate accounts
to post ahead of this week's presidential election, the U.S. social
media giant said on Monday. AIRLINE DEBT
Holders of around $70 million in troubled bonds issued on behalf of Air
Seychelles are considering options including enforcement against the
African carrier, according to sources and documents. IMF FUNDING
The International Monetary Fund said on Monday its executive board
approved a disbursement to Angola of about $487.5 million after
completing a fourth review of the African oil exporter's $3.7 billion
loan program. 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

African Markets - Factors to watch on Jan 12
 

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