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African Markets - Factors to watch on Oct. 14

Published 14/10/2020, 06:01
© Reuters.
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NAIROBI, Oct 14 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

GLOBAL MARKETS

Asian equities slipped on Wednesday as halted COVID-19 vaccine trials and an impasse in U.S. fiscal aid package talks soured risk appetite, while the greenback held on to gains as demand firmed for safe-harbour assets.

WORLD OIL PRICES

Oil prices slipped on Wednesday on concerns that fuel demand will continue to falter as rising coronavirus cases across Europe and in the United States, the world's biggest oil consumer, could impede economic growth.

SOUTH AFRICA MARKETS

South Africa's rand traded flat on Tuesday, lacking any drivers of momentum in either direction as investors tread cautiously with an eye on local events and upcoming elections in the United States.

MARKETS

The Kenyan shilling (KES=) edged down on Tuesday as demand from oil and merchandise importers exceeded supply from the horticulture sector and remittances from abroad, traders said.

PROTESTS

Nigeria's police have agreed to stop using force against protesters, the presidency said on Tuesday, a day after law enforcement agents shot live fire at demonstrators in Lagos where an official said two people were killed.

OIL

Eni (ENI.MI) has filed a request for arbitration against Nigeria at the World Bank's dispute settlement body and plans to argue that the country's failure to allow it to exploit an oilfield it acquired with Royal Dutch Shell (RDSa.L) nearly a decade ago breaches their investment agreement, court documents show.

SECURITY

Suspected Islamist militants killed 25 people including 13 soldiers in multiple attacks in central Mali, burning down an army base and ambushing troops sent as reinforcements, the army and local authorities said on Tuesday.

WEALTH FUND

Mozambique's central bank has proposed the country invest more than half of the revenue from an estimated $96 billion liquefied natural gas (LNG) windfall in a proposed sovereign wealth fund (SWF).

REPUBLIC OF CONGO MINING

Democratic Republic of Congo has issued a six-month waiver to an export ban on copper concentrate, the mining minister said in a letter seen by Reuters on Tuesday.

TELECOMS

South African mobile operator MTN's (MTNJ.J) Ghana unit said on Tuesday it was withdrawing a legal challenge it had filed to the Supreme Court over the market regulator's move to designate it a significant market power.

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