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African Markets - Factors to watch on Oct 6

Published 06/10/2020, 05:46
Updated 06/10/2020, 05:48
© Reuters.
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NAIROBI, Oct 6 (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 stock markets advanced to a two-week high on Tuesday after U.S. President Donald Trump was discharged from hospital following treatment for COVID-19 and as prospects for a fresh U.S. stimulus package appeared to brighten.

OIL PRICES

Oil prices edged higher in early trade on Tuesday after U.S. President Donald Trump returned to the White House from hospital after being admitted for treatment for COVID-19 last Friday, while another storm brewed in the U.S. Gulf of Mexico.

SOUTH AFRICA MARKETS

South Africa's rand firmed on Monday, extending last week's gains as global risk appetite increased following signs U.S. President Donald Trump's health has improved.

KENYA MARKETS

The Kenyan shilling was little-changed on Monday and traders said it could depreciate due to hard currency demand from energy sector importers.

NIGERIA EQUITIES

Nigerian stocks rose to their highest in more than seven months on Monday after 11 straight days of gains as excess liquidity on the money markets flowed into equities, traders said.

ETHIOPIA SECURITY

Ethiopia has banned all flights over its giant new hydropower dam on the Blue Nile for security reasons, the head of its civil aviation authority said on Monday.

POLITICS

Mali announced a new government on Monday, with some of the top posts going to military officials following a coup on Aug. 18 that deposed President Ibrahim Boubacar Keita.

IVORY COAST COCOA

Mainly above-average rains interspersed with sun last week in most of Ivory Coast's cocoa regions should improve the chances of a larger, higher-quality October-to-March main crop, farmers said on Monday.

ELECTRICITY

Zimbabwe's energy regulator has allowed the state power company to increase tariffs by 50% from Thursday while another hike by the same margin would come into effect next month.

NATURAL GAS

French oil and gas major Total TOTF.PA said on Thursday it was moving ahead with its $20 billion natural gas (LNG) project in Mozambique, despite growing concerns about a wave of militant attacks by rebels with links to Islamic State.

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