Intel stock spikes after report of possible US government stake
NAIROBI, Nov 10 (Reuters) - 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 mostly shot higher on Tuesday driven by
regional airline, tourism and travel stocks as global investors
applauded progress in the development of a coronavirus vaccine
which lifted confidence in a world economic recovery.
MKTS/GLOB
WORLD OIL PRICES
Oil prices dropped on Tuesday as concerns over fuel demand in
the near term in coronavirus-hit Europe and the United States
returned to haunt the market after an overnight surge on
progress towards a COVID-19 vaccine.
O/R
EMERGING MARKETS
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KENYA MARKETS
The Kenyan shilling KES= was stable on Monday, with demand for
hard currency generally subdued across board. KENYA EQUITIES
Safaricom SCOM.NR , Kenya's biggest telecoms operator, said on
Monday it expects core earnings to drop by 7-10.5% in the year
ending March 2021, hurt by the impact of the coronavirus crisis.
SOUTH AFRICA MARKETS
South Africa's stock exchange propelled to its highest level
since August and was hovering close to its yearly high at 1200
GMT on drugmaker Pfizer's announcement that its trial vaccine
has been highly effective in preventing COVID-19. ETHIOPIA CONFLICT
An escalating conflict in Ethiopia's restive Tigray region has
killed hundreds of people, sources on the government side said,
even as the prime minister sought on Monday to reassure the
world his nation was not sliding into civil war. MOZAMBIQUE CORRUPTION
Mozambique filed provisional embezzlement, money laundering and
abuse of office charges on Monday against former finance
minister Manuel Chang over $2 billion in state-guaranteed debt
borrowed during his term in office.
NIGERIA EQUITIES
Nigerian stocks rose 3.16% in early trade on Monday to their
highest in more than 20 months, as excess cash in money markets
fuelled demand for banks and some heavyweight shares.
BOTSWANA MINING
Botswana's President said its mining industry is expected to
shrink by nearly a quarter this year, before bouncing back to
growth in 2021 as the diamond market picks up and production
begins at a new copper mine.
IVORY COAST COCOA
Above average rains last week in most of Ivory Coast's cocoa
regions should strengthen the October-to-March main crop before
the arrival of dry seasonal winds, farmers said on Monday.
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