Intel stock spikes after report of possible US government stake
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
Share markets veered higher in wild Asian trading on
Wednesday as results from the U.S. presidential election
proved far closer than polls had predicted, leaving the
outcome deeply in doubt. MKTS/GLOB
WORLD OIL PRICES
Oil rose nearly 2% early on Wednesday after industry data
showed crude inventories in the United States dropped
sharply, but analysts said uncertainty had crept into the
market amid growing suspense over the result of the U.S.
presidential election. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand ended mostly flat on Tuesday in
turbulent trade as investors awaited the results from the
United States presidential election, with Joe Biden's
consistent lead in opinion polls dragging the dollar to the
benefit of risk assets. PROTESTS
Nigerian workers demonstrated on Tuesday over pay issues
outside the site of what will be Africa's largest oil
refinery, the owner Dangote Industries Ltd said, at a time
of heightened tensions in the country over police
brutality. OIL
The Nigerian National Petroleum Corporation said in a
statement on Tuesday an explosion hit its Oil Mining Lease
40 field with no casualties or significant spill, though
production will be cut by about 10,000 barrels per
day. MARKETS
The Kenyan shilling KES= was flat against the dollar on
Tuesday, as the supply of dollars matched the demand from
manufacturing and energy sectors, traders said. IMF
Kenya is holding talks with the International Monetary Fund
on a new lending facility as the East African nation faces
huge budget deficits worsened by the coronavirus
crisis. BRITAIN TRADE
Kenya and Britain have agreed in principle the text of a new
trade agreement, both sides said on Tuesday, to safeguard
annual trade which is estimated at 200 billion shillings
($1.84 billion) after Brexit. CONFLICT
Ethiopia's Prime Minister Abiy Ahmed ordered the military to
deploy to the Tigray region on Wednesday after accusing the
government there of attacking federal troops, a major
escalation of a row between the premier and the
once-powerful region. ELECTION
Tanzanian police on Tuesday released three opposition
leaders who were arrested after calling for demonstrations
to demand a fresh election and an independent electoral
commission, their party said. BONDS
Holders of Zambia's Eurobonds plan to reject a government
request to defer payments on its sovereign dollar debt,
according to four sources, pushing the country closer
towards a protracted debt overhaul and possible hard
default. POLITICS
Zimbabwean police on Tuesday arrested for the second time a
journalist who has been critical of the government, his
lawyer said, adding this time it was for contempt of court
related to a post he made on Twitter. INSURGENCY
More than 40 people were feared to have drowned in
Mozambique's conflict-torn north after their boat sank, the
administrator of an island district said on
Tuesday. COAST ELECTION
Police in Ivory Coast surrounded the houses of two of
President Alassane Ouattara's main rivals on Tuesday after
the government accused them of sedition for creating a
parallel administration in defiance of Ouattara's landslide
win in Saturday's election. POLITICS
Ugandan police used rubber bullets, live rounds and tear gas
to break up a protest by supporters of opposition
presidential candidate Bobi Wine after he was arrested on
Tuesday following the filing of his nomination papers, aides
and witnesses said. the latest precious metals report click on GOL/
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