TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
NAIROBI, Nov 20 (Reuters) - 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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GLOBAL MARKETS
World financial markets were hit by a wave of uncertainty on
Friday after U.S. Treasury Secretary Steven Mnuchin called for
an end to coronavirus pandemic relief for struggling
businesses, sparking a rare clash between the central bank and
Treasury. MKTS/GLOB
WORLD OIL PRICES
U.S. oil prices slipped on Friday, dropping for a second day as
concerns mounted about the hit to demand from the surge in
COVID-19 infections forcing new lockdowns, but prices were
supported by signs of movement on a stimulus deal in
Washington. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand weakened on Thursday as the central bank's
decision to hold rates gave scant support and as traders
awaited a sovereign rating review on Friday. CURRENCIES
Nigeria's naira and the Kenyan shilling are expected to lose
value against the dollar in the week ahead as demand pressures
from importers build ahead of Christmas shopping
season. DEBT
African countries face another debt crisis and will need more
long-term help than the latest G20 debt plan offers them to
ward off trouble ahead and keep much-needed investments coming
in, according to policymakers, analysts and
investors. MARKETS
Kenya's shilling KES= was steady on Thursday, but traders
said they expected it to weaken due to increased dollar demand
from importers like oil companies, amid lower inflows from
sectors like tourism. POLITICS
Sixteen people have been killed in Uganda in army and police
operations to quell protests that broke out over the arrest of
presidential candidate and pop star Bobi Wine, authorities said
on Thursday. CONFLICT
Ethiopia said on Thursday it was bearing down on the capital of
Tigray region in a two-week-old war, and tore into the World
Health Organization (WHO) head with accusations of diplomatic
lobbying for the rebels, allegations he denied. For the latest precious metals report click on GOL/
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