African Markets - Factors to watch on Dec. 19

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Dec. 19
Credit: © Reuters.

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - EVENTS: *Madagascar holds second round of presidential elections

GLOBAL MARKETS Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the session. OIL PRICES 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 firmed on Tuesday, helped by a fragile dollar as markets counted down to a crucial U.S. Federal Reserve meeting amid speculation it will soon hit the pause button to its monetary tightening cycle. POLAND KIDNAPPING All of the crew kidnapped by pirates from a container ship off the coast of Nigeria in October, including eight Polish nationals, are safe and will be reunited with their families, Poland's Foreign Ministry said in a statement on Tuesday. GOLD Nigeria's first gold refinery is expected to more than triple its capacity within five years after operations begin next June, an executive at the company developing it said on Tuesday. MARKETS The Kenyan shilling KES firmed against the dollar on Tuesday supported by tight liquidity in the local money market amid subdued demand from merchant importers, traders said. TELECOMS Kenyan telecom operator Airtel, a unit of India's Bharti Airtel BRTI.NS , slightly increased its mobile subscription market share in the third quarter, while rival Safaricom 's fell SCOM.NR , an official report showed on Tuesday. FOREIGN EXCHANGE Kenya's Capital Markets Authority said on Tuesday it had granted a licence to Standard Investment Bank to engage in online foreign exchange trading business. COAST COFFEE Ivory Coast announced a guaranteed minimum price for coffee farmers of 700 CFA francs ($1.22) per kilogramme for the 2018-19 season, a government statement said on Tuesday after a cabinet meeting. COAST BONDS Ivory Coast is seeking to raise up to 1.4 trillion CFA francs ($2.5 billion) next year on regional and international markets, a government minister said on Monday. MARKETS The Ugandan shilling UGX= traded unchanged on Tuesday on the back of slackening demand for hard currency from goods importers. VIOLENCE The Zimbabwean military's use of live bullets to quell post-election violence in the summer was "disproportionate and unjustified", according to an inquiry released on Tuesday. KATANGA GLENCORE Glencore-controlled GLEN.L Katanga Mining Ltd KAT.TO said on Tuesday it agreed to pay more than $22 million to settle Canadian allegations of inadequate historical disclosures of its finances and activities in the Democratic Republic of Congo. ECONOMY Sudan expects stronger economic growth, a big rise in exports and a reduced budget deficit next year, according to a draft budget approved by the cabinet on Tuesday. LNG Angola's Soyo liquefied natural gas (LNG) plant has resumed production after a "controlled" shutdown, a spokeswoman for Angola LNG said on Tuesday. CHOPPIES Botswana's budget retailer Choppies CHOPP.BT , CHPJ.J said on Tuesday its chief financial officer resigned last week, amid concern over months-delayed financial results.

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