🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

African Markets - Factors to watch on Oct 9

Published 09/10/2020, 05:37
Updated 09/10/2020, 05:42
© Reuters.
USD/ZAR
-
USD/KES
-
CL
-

NAIROBI, Oct 9 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

GLOBAL MARKETS

Asian shares inched close to 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday.

WORLD OIL PRICES

Oil prices eased a few cents early in trading on Friday in a breather at the end of a week of big gains propelled by a strike in Norway that raised the prospect of supply from the major producer being slashed by up to 25%.

SOUTH AFRICA MARKETS

South Africa's rand inched firmer in tentative trade on Thursday as renewed hope for more U.S. stimulus soothed investor sentiment toward riskier currencies.

KENYA MARKETS

The Kenyan shilling was stable on Thursday with importer dollar demand matched by inflows from remittances and agricultural exports.

NIGERIA BUDGET

Nigerian President Muhammadu Buhari presented a record 13.08 trillion naira ($34.4 billion) budget for 2021 to lawmakers on Thursday, an increase from last year as the country tackles the crisis brought about by the coronavirus pandemic.

SUB-SAHARAN AFRICA GROWTH

The coronavirus crisis is expected to drive a 3.3% contraction in sub-Saharan African economies in 2020 and could push 40 million people into extreme poverty, the World Bank said on Thursday.

UGANDA DEBT

Banks in Uganda plan to appeal a court ruling issued on Wednesday that has effectively declared illegal certain syndicated loans - representing at least $1.5 billion worth of debt - an industry body said on Thursday.

DEBT

Zambia has in the past few months engaged Chinese creditors to try to secure the suspension of debt service falling due from May 1 to Dec. 31, the ministry of finance said on Thursday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.