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African Markets - Factors to watch on Sept 25

Published 25/09/2020, 06:00
Updated 25/09/2020, 06:06
© Reuters.

© Reuters.

NAIROBI, Sept 25 - 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 rose on Friday after robust U.S. housing
data supported a late tech-driven rally on Wall Street, with
investors picking up the pieces a day after a broad regional
index posted its biggest daily loss in more than three
months. MKTS/GLOB

WORLD OIL PRICES
Oil prices rose on Friday but are on track for a weekly
fall because of rising concerns about the global resurgence
of coronavirus infections and its effects on fuel demand,
while the likely return of exports from Libya will add to
supply. O/R

EMERGING MARKETS
For the top emerging markets news, double click on
STOCKS
For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS
South Africa's rand fell more than 1% on Wednesday as
the dollar grinded higher, boosted by its renewed safe-haven
appeal amid concerns about a second wave of coronavirus
infections in Europe. BONDS
Nigeria sold bonds on Wednesday at yields lower than the
secondary market despite double-digit inflation, auction
results showed, after an unexpected central bank interest
rate cut aimed at stimulating the economy. MARKETS
The Kenyan shilling KES= edged down on Thursday as
demand for dollars began to build up ahead the end of the
month when firms typically meet their hard currency
obligations, traders said. GRAFT
Kenya's anti-corruption agency has documented evidence
of "criminal" behaviour by officials over the procurement of
COVID-19 emergency equipment, said a report presented to the
Senate. LOANS
Kenya should renegotiate the terms of a loan borrowed
from China to build a modern railway line, parliament's
transport committee said in a report, one of many African
countries grappling with a pandemic-induced downturn and
heavy debt. KENYA WTO BID
Kenya's candidate to become the next head of the World
Trade Organisation pledged on Thursday to integrate climate
change issues into the WTO agenda if selected. COCOA
Ghana will increase the guaranteed cocoa price it pays to
farmers during the upcoming growing season by 28% to 10,560
cedis ($1,837) per tonne President Nana Akufo-Addo said on
Thursday. FLOODS
More than two weeks after heavy rains hit Senegal,
thigh-high stagnant water still fills streets in Dakar's
suburbs, as angry residents ask what happened to a $1.4
billion government plan to protect citizens from rising
flood risk. DEBT RELIEF
Somali authorities have met their first round of targets
for financial reform, the International Monetary Fund said
on Thursday, part of a broader program paving the way to
debt relief for the war-ravaged nation. POLITICS
About 2,000 people in Ethiopia have been charged over
deadly violence that followed the killing of a popular
singer in June and charges against more prisoners are likely
to follow, the attorney general said on
Thursday. For the latest precious metals report click on GOL/
For the latest base metals report click on MET/L
For the latest crude oil report click on O/L

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