African Markets - Factors to watch on Nov 17

NAIROBI, Nov 17 (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 stocks cautiously pushed further into record territory on
Tuesday, and oil edged higher after U.S. benchmarks were pepped up
by news of another promising coronavirus
vaccine. MKTS/GLOB

WORLD OIL PRICES
Oil prices edged higher on Tuesday on expectations OPEC and its
allies will extend oil production cuts for at least three months,
while sentiment was bolstered by news of another promising
coronavirus vaccine. O/R

EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand firmed on Monday on the back of optimism that
a number of vaccine trials with success rates of more than 90% and
Joe Biden's victory in the U.S. election will lead to a faster
than anticipated recovery in global growth. MARKETS
Nigerian naira eased to its lowest in 12 weeks on the black market
on Monday after the currency fell 1.05% against the U.S. dollar as
dealers funnelled unmet demand from official sources to the
parallel market, traders said. Stocks extended losses, shedding 0.69% after last week's
winning streak as investors sold shares in the relatively liquid
banking and consumer goods sector to book gains. BANKS
Nigeria has passed a law that will create a new resolution fund to
support failing or distressed lenders and will get commercial
banks to help pay for it. MARKETS
Kenya's shilling KES= was slightly changed on Monday and traders
forecast the shilling to weaken, undermined by slowing exporter
dollar inflows, traders said. CONFLICT
Ethiopia resisted international pressure for mediation in a war in
the country's north on Monday as its air force bombed the Tigrayan
capital Mekelle, according to diplomatic and military sources.

GHANA GOLD
Ghana's special prosecutor resigned on Monday over a dispute
surrounding a planned $500 million initial public offering (IPO)
of gold royalty fund Agyapa Royalties in London, which his office
has said was open to corruption. DEBT
The Zambian government's lack of engagement has made providing
near-term debt relief impossible, a large Eurobond creditor group
said, adding it may consider other options with the country
looking on track for an acrimonious debt
restructuring. the latest precious metals report click on GOL/
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