African Markets – Factors to watch on Dec. 24 By Reuters


© Reuters. African Markets – Factors to watch on Dec. 24

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 stocks were subdued on Monday as investors fretted that political instability in the United States was leaving the country rudderless at a time when the global economy was showing signs of faltering. MKTS/GLOB

WORLD OIL PRICES Oil prices rose more than 1 percent on Monday on signs that the recent price plunge may start crimping supply from the U.S., currently the world’s biggest oil producer, though concerns about global economy continues to weigh. 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 was on course on Friday for a gain on the week despite the dollar’s bounce as markets remained wary of pushing the greenback higher with the threat of a U.S. government shutdown and lower bond yields weighing on sentiment. SECURITY Police said they had arrested the suspected mastermind of bombing attacks by the Islamist militant group Boko Haram that killed 15 people in the Nigerian capital Abuja in 2015. POWER Plans to build another privately-financed power station in Nigeria to help end decades of chronic blackouts have been delayed because of concerns about persistent shortfalls in payments for electricity across the sector. MARKETS The Kenyan shilling strengthened against the dollar on Wednesday due to tight liquidity in the money market and thin dollar demand from merchant importers ahead of the holiday season, traders said. MARKETS The Ugandan shilling UGX= was steady on Friday but was expected to weaken due to increased dollar demand from commercial banks, traders said. SECURITY At least 13 people were killed and 17 wounded in a car bomb attack claimed by al Qaeda-linked group al Shabaab close to the president’s residence in the Somali capital Mogadishu, police said on Saturday. MINING Canada’s First Quantum Minerals (FQM) said on Friday that it would lay off 2,500 workers in Zambia over plans by Africa’s No.2 producer to hike mining taxes. the latest precious metals report click on GOL/

For the latest base metals report click on MET/L

For the latest report click on O/L

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