Intel stock extends gains after report of possible U.S. government stake
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
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GLOBAL MARKETS
Asian shares were on the defensive on Monday as investors
grappled with sky-high valuations against the backdrop of a
global economy in the grip of a deep coronavirus-induced
recession while oil prices dropped sharply.
MKTS/GLOB
WORLD OIL PRICES
Oil prices dropped more than $1 a barrel on Monday, hitting
their lowest since July, after Saudi Arabia made the deepest
monthly price cuts for supply to Asia in five months as
optimism about demand recovery cooled amid the coronavirus
pandemic.
O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand firmed on Friday, supported by the lure
of higher yields and a slide in the dollar after jobs growth
slowed in the United States.
ARBITRATION
A British court awarded Nigeria more time to appeal a $10
billion arbitration case with the company Process &
Industrial Developments (P&ID).
MARKETS
The Kenyan shilling KES= held steady against the dollar on
Friday as activity in the market was curbed by a dearth of
hard currency sellers.
TREASURY BILLS
Ghana's finance ministry said on Friday it plans to issue
treasury bills worth around $4 billion over the next three
months, of which 3.43 billion is to roll-over maturities and
the remaining $532 million are fresh issuance.
MTN
MTN's MTNJ.J unit in Ghana said on Saturday that it had
sought review from the Supreme Court after a high court this
week dismissed its challenge to a move by the
telecommunications regulator aimed at exposing it to greater
competition.
ECONOMY
Malawi's economy will contract 1.9% this year because of
instability caused by a presidential election re-run and the
COVID-19 pandemic, President Lazarus Chakwera said in a
state of the nation address on Friday.
AIRLINES SAA
Ethiopian Airlines is in talks over possible involvement in
the rescue of flagship carrier South African Airways (SAA),
the head of the airline told Reuters on Friday.
REGIONAL VOTE
Ethiopia's upper house ruled on Saturday that plans by the
Tigray region to hold an election on Sept. 9 were
unconstitutional, setting up a potential clash between the
central government and a powerful ethnic party.
CRISIS
Ousted Mali President Ibrahim Boubacar Keita left the
country on Saturday for medical treatment in Abu Dhabi, an
adviser said, as talks about a transition back to civilian
rule following last month's military coup got off to a
chaotic start.
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