Intel stock spikes after report of possible US government stake
NAIROBI, Nov 11 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.
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GLOBAL MARKETS
Stock markets gained on Wednesday, as news of a working COVID-19
vaccine seemed to inoculate investors against worry about
surging infections in Europe and the United States, while the
kiwi rose as traders thought the central bank sounded upbeat.
MKTS/GLOB
WORLD OIL PRICES
Oil futures rose on Wednesday after an industry report showed
that U.S. crude inventories fell by more than expected as prices
continued to be supported by news of successful trials of a
vaccine for coronavirus. O/R
EMERGING MARKETS
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KENYA MARKETS
The Kenyan shilling KES= was stable on Tuesday from the
previous day although latent demand pressure from importers was
still posing depreciation risk, traders said. AFRICA MARKETS
South Africa's rand extended its retreat from a more than
8-month high against the dollar on Tuesday, after police issued
a warrant for the arrest on corruption charges of Ace Magashule,
a top official of the governing African National Congress party.
ETHIOPIA CONFLICT
Refugees fled to Sudan on Tuesday and the African Union appealed
for a ceasefire in a north Ethiopian region where Prime Minister
Abiy Ahmed is waging a military offensive against local leaders
defiant of his authority. NIGERIA EQUITIES
Nigerian stocks extended gains on Tuesday, rising 1.25% after
oil prices rose and domestic funds bought shares of energy
firms, traders said.
AFRICA RETAIL
African online retailer Jumia JMIA.N on Tuesday reported a
nearly 18% fall in third-quarter revenue as it shifted towards
less expensive but more frequently ordered items and missed out
on lockdown boosts enjoyed by international rivals.
TANZANIA POLITICS
Tanzania's opposition presidential candidate Tundu Lissu left
the country for Belgium on Tuesday for treatment and to open up
a new battle, a party spokesman said, following a disputed
election that the incumbent president won with 84% of the vote.
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