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African Markets - Factors to watch on Nov. 3

Published 03/11/2020, 06:46
Updated 03/11/2020, 06:48
© Reuters.
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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 got off to a strong start on Tuesday, with investors buoyed by strong factory output data from major economies, while the dollar and gold held ground on political uncertainty ahead of U.S. elections.

WORLD OIL PRICES

Oil prices held steady on Tuesday ahead of the U.S. presidential election, retaining their steep overnight gains but capped by demand concerns and worries about rising supplies. 

SOUTH AFRICA MARKETS

South Africa's rand barely budged on Monday, reflecting caution seen across currencies around the world ahead of the U.S. presidential election.

PROTESTS

"Hoodlums" wearing military uniforms may have shot Nigerian protesters campaigning against police brutality and it was too soon to tell if soldiers were involved, the country's attorney general said on Monday.

MARKETS

The Kenyan shilling (KES=) was unchanged against the dollar on Monday, as the supply of dollars matched the demand in the market, traders said.

IMF

Kenya is in talks with the International Monetary Fund for a new lending facility, the fund's resident representative in Nairobi told Reuters on Tuesday, without disclosing the figure under discussion.

KAKUZI

Kenyan food producer Kakuzi (KUKZ.NR) has appointed a new chairman and admitted a new director to its board, weeks after it was suspended by British retailer Tesco (TSCO.L).

COAST ELECTION

Ivory Coast President Alassane Ouattara has won a third term in office with 94.27% of the vote after a bitter election that sparked deadly violence and was boycotted by opposition voters, provisional results announced by the electoral commission showed on Monday.

COAST COCOA

Above average rainfall last week in Ivory Coast's cocoa growing regions is expected to boost the yield of the October-to-March main crop, farmers said on Monday.

ELECTION

Tanzanian opposition presidential candidate Tundu Lissu was briefly detained on Monday, his Chadema party said after police foiled planned opposition protests against last week's election by arresting prominent officials in the main opposition party.

VIOLENCE

Gunmen have killed 32 people and torched more than 20 houses in a raid on an area of western Ethiopia, a regional administrator said on Monday.

ANGLO-AMERICAN/ENVIRONMENT

Anglo American (AAL.L) Chief Executive Mark Cutifani said on Friday it was not responsible for lead poisoning at a Zambian lead mine it part-owned nearly 50 years ago and planned to defend itself after a class action was filed against the miner.

POLITICS

Uganda's veteran president Yoweri Museveni warned that anyone breaking the peace would regret their actions as he formally started his bid for another term in office on Monday.

MARKETS

The Ugandan shilling held steady on Monday, underpinned by end-month inflows of hard currency from some charities and commodity exporters.

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