Trump/Putin summit, UnitedHealth and Japan’s GDP - what’s moving markets
NAIROBI, Oct 28 - The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Wednesday.
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GLOBAL MARKETS
Global shares slipped on Wednesday as coronavirus
infections grew at an alarming pace in the United States and
Europe, while uncertainty over next week's U.S. elections
added to a "risk off" tone. MKTS/GLOB
WORLD OIL PRICES
Oil prices slid more than 1 percent on Wednesday, paring
the previous day's gains, as a jump in U.S. crude
inventories and surging COVID-19 cases raised fears of an
oversupply of oil and weak fuel demand. O/R
EMERGING MARKETS
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STOCKS
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SOUTH AFRICA MARKETS
The South African rand strengthened on Tuesday, as the
dollar was dragged weaker by uncertainty over next month's
U.S. presidential election and rising global coronavirus
infections. AFRICA DIAMONDS
Petra Diamonds' first-quarter revenue climbed 33% year
on year helped by inventory sales and a 21% increase in
diamond prices since the start of the coronavirus pandemic,
the miner said on Tuesday. MARKETS
Kenya's shilling KES= edged down on Tuesday due to end
of month dollar demand from oil and merchandise importers,
traders said. L8N2HI2QC
KENYA REAL ESTATE
The real estate subsidiary of Kenya's Centum Investment
CTUM.NR plans to issue a 4 billion shilling ($36.78 million)
corporate bond to finance its housing developments, the
parent company said on Tuesday. ELECTIONS
Tanzania's president John Magufuli hopes to win another
five-year term when the East African nation holds
presidential and parliamentary elections on Wednesday, amid
criticism from rights groups that the government is stifling
political dissent. RECOVERY
Recovery among Africa's major economies will be mixed
and mostly tepid, favouring the more diversified rather than
those heavily reliant on commodity exports, a Reuters poll
found on Tuesday. KIDNAPPING
Six gunmen on motorbikes with AK-47 assault rifles
kidnapped an American man from his home on the edge of a
rural village in southern Niger in the early hours of
Tuesday, multiple sources said. SHABAAB
The Somali insurgent group al Shabaab collects almost as
much tax as the government through a sophisticated system of
levies on activities from importing goods to irrigating
crops, a think tank report has found. GROWTH
Rwanda's economic output is seen contracting by 0.2%
this year, hurt by the effects of anti-coronavirus measures,
but growth is poised to rebound to 5.7% in 2021, the
International Monetary Fund said in a statement seen by
Reuters on Tuesday. LNG
A massive $20 billion liquefied natural gas (LNG)
project in Mozambique is on track to produce its first cargo
in 2024 despite coronavirus pandemic disruptions globally,
an executive from the operator of the project said on
Tuesday. For the latest precious metals report click on GOL/
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