Categories: World

African Markets – Factors to watch on Oct 22

Published by TSG Syndication

NAIROBI, Oct 22 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - GLOBAL MARKETS Global shares slipped on Wednesday and gold pulled back sharply from a blistering rally, as stretched valuations came under scrutiny and investors booked profits. WORLD OIL PRICES Oil prices pushed higher for a second day on Wednesday, by more than 1%, buoyed by sanctions-related supply risk and hope of a U.S.-China trade deal while investors also digested news of the U.S. seeking oil for delivery to its strategic reserves. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on South African stocks, click on SOUTH AFRICA MARKETS South Africa's rand fell on Tuesday as a stronger dollar and retreating commodity prices weighed on risk assets. UGANDA WORLD BANK The World Bank will give Uganda over $2 billion in new financing in the next three financial years to fund economic development, a top ministry of finance official said on Tuesday. NIGERIA ENERGY Nigeria's Dangote oil refinery restarted production at its 204,000 barrel per day gasoline unit as planned on October 19 at a run rate of 60%, industry monitor IIR said in an emailed statement to Reuters. CAMEROON POLITICS Cameroon's security forces fired tear gas on Tuesday to disperse opposition party supporters protesting in the capital Yaounde and the northern city of Garoua, as tensions rise over the outcome of the October 12 presidential election. NAMIBIA GROWTH Namibia now expects economic growth of 3.3% this year, down from the 4.5% estimate given when the main budget was presented in Marchbecause of a projected contraction in its manufacturing sector, its finance minister said on Tuesday. SENEGAL DEBT Senegal has raised its projections of debt service payments by about 3.2 trillion CFA francs ($5.8 billion) for the next three years in a revised budget document published last week. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on (The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
TSG Syndication
Published by TSG Syndication