JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
NAIROBI, Nov 18 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
- - - - -
EVENTS:
*ZAMBIA - The central bank to announce its latest benchmark
lending rate decision.
*GHANA - The statistics office to release producer price index
data for October.
GLOBAL MARKETS
Global shares stepped back on Wednesday as soft U.S. retail sales
fuelled worries that rising coronavirus cases could stifle a still
fragile economic recovery, dampening the euphoria from vaccine
trial breakthroughs. MKTS/GLOB
WORLD OIL PRICES
Oil prices fell on Wednesday after a bigger-than-expected build in
U.S. crude stockpiles stoked fears for weak fuel demand and a
potential supply glut, but hopes that OPEC and its allies will
postpone a planned January increase to oil output braked
losses. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand weakened on Tuesday, with investors opting to
take profits on the currency's recent rally ahead of a lending
rates decision later in the week. MARKETS
Nigerian stocks dropped 1.59% on Tuesday to almost a one-week low,
extending losses for the third straight session as investors
booked profits following recent gains and oil prices
retreated. PETROLEUM
Nigeria's House of Representatives will pass a long-delayed oil
reform bill within six months, its speaker said on Tuesday,
potentially paving the way for an overhaul of laws governing the
country's oil and gas industry. MARKETS
The Kenyan shilling KES= was stable on Tuesday and traders said
they expected it to weaken due to increased dollar demand from oil
and general goods importers. CONFLICT
Ethiopia said its troops were marching on the capital of the
Tigray region on Tuesday after a deadline for rebel forces to
surrender passed in a two-week conflict shaking the Horn of Africa
and alarming the world. DEBT
A credit derivatives committee has been asked to rule whether a
'failure to pay' credit event has been triggered by Zambia, paving
the way for a potential payout for holders of default insurance on
the country's sovereign debt. the latest precious metals report click on GOL/
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