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African Markets - Factors to watch on Jan. 7

Published 07/01/2020, 05:35
Updated 07/01/2020, 05:36
© Reuters.  African Markets - Factors to watch on Jan. 7

The following company announcements, scheduled economic indicators, debt and currency market

moves and political events may affect African markets on Tuesday.

- - - - -

GLOBAL MARKETS

Asian shares rebounded on Tuesday as a day passed without

any new escalation in the Middle East and Wall Street erased

early losses to end in the black as tech stocks climbed.

MKTS/GLOB

WORLD OIL PRICES

Oil prices fell more than 1% on Tuesday as investors

reconsidered the likelihood of Middle East supply

disruptions in the wake of the United States killing a top

Iranian military commander.

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 rebounded slightly in late trade on

Monday after a steep fall last week, joining some other

emerging market currencies in paring some losses even as

Iran and the United States traded threats.

SECURITY

At least 30 people were killed in the northeastern Nigerian

state of Borno after an improvised explosive device

detonated on a bridge, sources told Reuters on Monday.

MARKETS

The Kenyan shilling KES= was stable on Monday with

remittances and non-governmental organizations helping the

supply of dollars, traders said.

Kenya plans to refinance or substitute commercial loans with

cheaper options from friendly nations or development

financiers, its acting finance minister said on Monday.

SECURITY

Kenyan police arrested three men suspected of trying to

break into a British army camp in central Kenya on the same

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day Islamist insurgents attacked another base used by U.S.

and Kenyan forces, according to a police report seen by

Reuters.

POLITICS

Police in Uganda on Monday fired tear gas to disperse

supporters of pop star and presidential hopeful Bobi Wine

when he tried to hold a rally, underscoring the hurdles he

faces in seeking to unseat President Yoweri Museveni.

Zimbabwe's largest bank CBZ CBZ.ZI launched two bond

issues on Monday, seeking to raise $80.6 million to finance

maize and soybean farming, as the country faces another

drought that could worsen an already dire economic

situation.

POLITICS

The wife of Vice President Constantino Chiwenga was granted

bail by Zimbabwe's High Court on Monday after spending three

weeks in detention for allegedly trying to kill her husband.

COAST CONSTITUTION

Ivory Coast President Alassane Ouattara said on Monday he

intends to modify the constitution ahead of an October

presidential election seen as a test of the country's

stability.

Russian state lender VTB VTBR.MM has filed a lawsuit in

Britain's High Court against a Mozambican government company

it lent hefty sums to as part of a project now at the centre

of a $2 billion debt scandal, according to an online court

filing.

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