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African Markets - Factors to watch on January 19

Published 19/01/2021, 06:04
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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 climbed on Tuesday as investors wagered China's economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West.

WORLD OIL PRICES

Brent crude futures edged up on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption. 

SOUTH AFRICA MARKETS

South Africa's rand fell on Monday, in line with other emerging markets, as a spike in global coronavirus cases curbed appetite for risk-driven assets.

VACCINES

Nigeria has written to the African Union to request 10 million COVID-19 vaccine doses to supplement the COVAX programme and has allocated $26 million for licensed vaccine production, the health minister said on Monday.

MARKETS

The Kenyan shilling (KES=) was stable on Monday mainly due to supplies of dollars matching demand, traders said.

ELECTION

Bobi Wine, leader of Uganda's main opposition party, said troops raided its headquarters on Monday as staff tried to prepare a legal challenge to President Yoweri Museveni's declared victory in an election last week.

TREASURY BONDS

Ghana plans to issue 22.3 billion cedi ($3.9 billion) worth of bonds in the first quarter according to the finance ministry's issuance calendar seen on Monday.

COAST COCOA

Top cocoa producer Ivory Coast's largest growers' union called on its members on Monday to strike and threatened to block port deliveries in response to low prices and warehouse backlogs.

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