African Markets - Factors to watch on Sept. 21
Sept 21 - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
- - - - - GLOBAL MARKETS Global stock markets grappled with contagion fears on Tuesday, sparked by troubles at China Evergrande as growing risks the property giant could default on its massive debt pile prompted investors to flee riskier assets. WORLD OIL PRICES Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China's economy of a crisis at heavily indebted property group China Evergrande. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa's rand weakened on Monday, tracking other risk and commodity currencies, as concerns about property group China Evergrande's solvency stoked risk aversion, while traders awaited the outcome of this week's U.S. Federal Reserve policy meeting. KENYA MARKETS The Kenyan shilling KES= was steady on Monday in well-balanced trade but was expected to come under pressure from importer dollar demand in the next few days, traders said. NIGERIA MARKETS Nigeria's naira hit a record low on the black market of 572 against the dollar on Monday, traders said, after online firm abokiFx stopped publishing currency quotes following the central bank's accusation that it was being used to manipulate forex rates. NIGERIA TELECOMS Nigerian authorities imposed a communications blackout on Monday in several parts of Sokoto state as a crackdown against armed kidnappers in the country's northwest region spreads. RWANDA JUSTICE A Rwandan court on Monday sentenced Paul Rusesabagina, a one-time hotel manager portrayed as a hero in a Hollywood film about the 1994 genocide, to 25 years in prison after he was convicted of terrorism charges. ZAMBIA MINING Zambia's mines minister on Monday criticised the previous administration's push to liquidate Vedanta's VDAN.NS Konkola Copper Mines (KCM) unit, which sparked years of wrangling. CAMEROON CONFLICT Separatist rebels have killed 15 Cameroonian soldiers and several civilians in two bomb attacks this month, the government said on Monday, marking a new phase of a conflict that has dragged on for nearly five years and cost more than 3,000 lives. IVORY COAST COCOA Cocoa arrivals at ports in world's top grower Ivory Coast reached 2.179 million tonnes between Oct. 1 and Sept. 9, exporters estimated on Monday, up 5.4.% from 2.068 million tonnes over the same period last season. KENYA NETFLIX Netflix Inc NFLX.O on Monday began offering a free mobile plan with about one-quarter of its TV shows and movies in Kenya, a strategy aimed at sparking growth in a key African market, the company told Reuters. GUINEA MINING Two trains operated by Russian aluminium giant Rusal RUAL.MM , 0486.HK collided in Guinea's capital Conakry on Monday, killing at least one person and injuring several others, according to witness accounts and footage on social media. MALI SECURITY European Union ties with Mali could be seriously affected if it allows Russian private military contractors to operate in the country, EU foreign policy chief Josep Borrell warned on Monday.
For the latest precious metals report click on
For the latest base metals report click on
For the latest crude oil report click on
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.