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African Markets - Factors to watch on Oct. 13

Published 13/10/2020, 06:00
© Reuters.
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NAIROBI, Oct 13 (Reuters) - 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 slipped on Tuesday, brushing off a firmer Wall Street lead as China's post-holiday rally cooled, although a buoyant tech sector and fresh optimism about U.S. stimulus are expected to continue to support sentiment.

WORLD OIL PRICES

Oil prices were steady in early trade on Tuesday, sitting on losses of nearly 3% from the previous session after supplies began to resume in Norway and the U.S. Gulf of Mexico and Libya resumed production at its largest oilfield. 

SOUTH AFRICA MARKETS

South Africa's rand firmed slightly on Monday, clinging to the previous week's gains spurred by hopes for the conclusion a stimulus package in the United States.

MARKETS

The Kenyan shilling was stable on Monday as light demand for dollars from the energy and horticulture sectors was matched by the supply in the market. 

KENYA EDUCATION

Kenyan schoolchildren in grades four, eight and 12 returned to class on Monday, ending a months-long closure of all educational institutions in the country designed to slow the spread of the novel coronavirus.

PROTESTS

Nigerian President Muhammadu Buhari promised on Monday that the government would bring police officers responsible for misconduct to justice, after nearly a week of sustained protests against police brutality that were met by a harsh response.

COAST COCOA

Above-average rainfall last week in most of Ivory Coast's cocoa regions brightened the outlook for the main crop harvest, farmers said on Monday, even as some voiced concerns about bean quality and the impact of electoral tensions.

CORONAVIRUS

Ethiopia has raised its health budget by 46% this year after the coronavirus crisis exposed the need for more equipment, facilities and personnel, Prime Minister Abiy Ahmed said on Monday.

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