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African Markets - Factors to watch on Oct.27

Published 27/10/2020, 06:08
Updated 27/10/2020, 06:12

NAIROBI, Oct 27 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

GLOBAL MARKETS

Asian stocks markets fell on Tuesday as soaring global coronavirus cases and slow progress on a U.S. stimulus deal hammered investor sentiment and took a toll on Wall Street. 

WORLD OIL PRICES

Oil prices eked out small gains on Tuesday after recent sharp losses, but sentiment remained subdued as a surge in global coronavirus cases hit prospects for crude demand while supply is rising. 

SOUTH AFRICA MARKETS

South Africa's rand strengthened slightly on Monday in tentative trade ahead of a budget speech in which the finance minister is expected to detail the impact of COVID-19 on an economy that was in recession and heavily in debt before the pandemic struck.

MARKETS

Kenya's shilling (KES=) inched down on Monday due to end of month dollar demand from importers, amid a drop in the supply of the hard currency, traders said. 

AFRICA MONEY

Having fled an economic implosion in his native Zimbabwe, Brighton Takawira was able to support his mother back home with modest earnings from a small perfume business he set up in South Africa.

NILE DAM TALKS

Negotiations between Ethiopia, Egypt and Sudan over a controversial multi-billion dollar dam on the Blue Nile will resume on Tuesday, nearly two months after Egypt left the talks, African Union chairman Cyril Ramaphosa said on Monday.

CLIMATE CHANGE

Floods, droughts, hotter weather and a desert locust invasion — the impacts of climate change are hitting Africa hard, and worse is ahead for the region's food supplies, economy and health, the U.N. climate agency said on Monday.

GENOCIDE

Rwandan genocide suspect Félicien Kabuga was in custody in The Hague on Monday after his transfer from France following a United Nations court order.

POLICE

The judicial panel investigating police brutality and the shooting of protesters in Lagos convened on Monday, promising neutrality and justice.

POLITICS

When Tanzanian President John Magufuli criss-crossed the country on the campaign trail ahead of Wednesday's elections, he touted the billions of dollars his government has spent on a new hydropower dam, a railway and a revived national airline.

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