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African Markets - Factors to watch on Oct. 21

Published 21/10/2020, 04:18
© Reuters.
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NAIROBI, Oct 21 (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 shares and U.S. stock futures rose on Wednesday as renewed hopes for a new round of U.S. stimulus drew money into equities from government debt. 

WORLD OIL PRICES

Oil prices fell on Wednesday after a surprise climb in U.S. crude stockpiles added to concerns about a global supply glut as a spike in global COVID-19 cases fuels demand fears and production returns in Libya. 

KENYA MARKETS

The Kenyan shilling weakened slightly on Monday as demand from energy and merchandising importers exceeded dollar inflows, traders said.

AFRICA MARKETS

The South African rand weakened against the dollar in early trade on Tuesday as broader risk sentiment was curbed by caution ahead of a deadline to reach an agreement for a U.S. coronavirus stimulus package.

PROTESTS

Soldiers opened fire on Nigerians protesting against police brutality in the Lekki district of the commercial capital Lagos on Tuesday, striking at least two people, four witnesses told Reuters.

ELECTION

Guinea's octogenarian leader, Alpha Conde, won four constituencies in the West African nation's presidential vote, preliminary results announced by the election commission showed on Tuesday.

AFRICA UNEMPLOYMENT

South Africa's Unemployment Insurance Fund (UIF) paid out 49.5 billion rand ($3 billion) of special COVID-19 jobless claims between March and October, the labour minister said on Tuesday.

OIL

The coronavirus pandemic has delayed Angola's efforts to privatise parts of its oil-dependent economy, Mineral Resources and Petroleum minister Diamantino Azevedo told trade publication Africa Oil and Power in an interview published on Tuesday.

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