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African Markets - Factors to watch on Oct. 30

Published 30/10/2020, 05:16
© Reuters.
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NAIROBI, Oct 30 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

A gauge of Asian shares fell for a third straight session on Friday as jitters over upcoming U.S. presidential elections and fears that the global economic downturn will persist enveloped markets, though the index was still set to end the month higher.

WORLD OIL PRICES

Oil prices tumbled on Thursday, touching a five-month low and extending the previous day's sharp decline on the impact renewed coronavirus lockdowns could have on oil demand. 

SOUTH AFRICA MARKETS

South Africa's rand steadied on Thursday after losses linked to the shock of a mid-term budget speech that showed still-ballooning debt and a deeper recession.

AFRICA WAGES

South Africa's plan to freeze public sector wages, announced by the finance minister in a budget speech, will face opposition from labour unions, ratings firm Fitch said on Thursday.

AFRICA AIRLINES

South Africa's government said on Thursday it wanted its national airline flying again in the first half of next year, after giving it a 10.5 billion rand ($650 million) bailout in the mid-term budget.

MARKETS

Kenya's shilling0 (KES=) was firm against the dollar on Thursday, traders said. 

AFRICA COVID

COVID-19 cases are accelerating in some parts of Africa and governments should step up preparations for a second wave, the Africa Centres for Disease Control and Prevention said on Thursday.

COPPER

Canadian copper miner First Quantum Minerals (FM.TO) sees no negative impact on its operations from a potential default in Zambia, its chief financial officer said on Thursday.

ELECTIONS

The United States said on Thursday there were "serious doubts" about the credibility of Tanzania's presidential election while the leading opposition candidate urged countries not to recognise the results of a "travesty" of a poll.

GENOCIDE

A U.N. judge on Thursday ordered Rwandan genocide suspect Felicien Kabuga to undergo a medical examination to see whether he is fit to be sent to Arusha, Tanzania for trial.

MIGRATIONS

At least 140 Europe-bound migrants drowned off the coast of Senegal when their boat caught fire and capsized, marking the deadliest shipwreck recorded this year, the U.N. migration agency said on Thursday.

VIOLENCE

Clashes between two Ethiopian states that have long disputed their border have killed at least 27 people, a government statement said, as the country faces surging ethnic violence.

VIOLENCE

Assailants killed at least 18 people and burned down a church in a village in eastern Congo on Wednesday night, a civil rights group and local committee said, blaming fighters from an Islamist militia group operating in the area.

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