Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
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EVENTS:
KENYA - The government releases the 2019 earnings data from
tourism, a key source of hard currency which brought in
157.4 billion shillings in 2018.
RWANDA - The statistics office issues inflation data for
December. The rate jumped to 6.9% in November.
GLOBAL MARKETS
The world's shares hit a record high on Friday as a relief
over de-escalation of U.S.-Iranian tensions quickly prompted
investors to bet on faster global growth, especially in the
technology sector.
MKTS/GLOB
WORLD OIL PRICES
Oil prices dropped on Friday extending days of losses as the
threat of war in the Middle East receded and investors
switched attention to economic growth prospects and the rise
in U.S. crude oil and product inventories.
EMERGING MARKETS
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SOUTH AFRICA MARKETS
The South African rand weakened slightly against the dollar
on Thursday, as power cuts, weak manufacturing data and a
trimmed World Bank growth forecast weighed.
MARKETS
The Kenyan shilling KES= held steady on Thursday with
inflows from remittances offering support against dollar
demand from merchandise importers and the manufacturing
sector, traders said.
TREASURIES
For results of Thursday's auction click: GDP
The World Bank has cut Ethiopia's economic growth forecast
to 6.3% for the 2020 fiscal year, down from an earlier
estimate of 9.0%, citing the growing debt burden of
state-owned firms and a worsening security situation.
Egypt, Ethiopia and Sudan remained deadlocked after two days
of talks in their disputes over a giant hydropower dam on
the Nile though Cairo said it hoped the issues would be
resolved by Jan. 15 in line with a deadline agreed with
Washington.
ISLAMIST MILITANTS
Suspected Islamist militants killed 25 soldiers and wounded
six others in an attack on an army post in west Niger near
its border with Mali on Thursday, the government said.
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