African Markets - Factors to watch on Nov 30
NAIROBI, Nov 30 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
- - - - - EVENTS *Kenya and Uganda statistics offices are today set to release consumer inflation data for November GLOBAL MARKETS Asian share markets were trading in positive territory on Tuesday as investors became cautiously optimistic the new Omicron variant might not cause a widespread global economic disruption to worsen the coronavirus pandemic. WORLD OIL PRICES Oil prices climbed on Tuesday, extending a rebound from last week's plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant.
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 firmed on Monday, recovering from last week's plunge to its lowest since October 2020 on concerns around the discovery of a COVID-19 variant in the country that has been described as the most concerning. KENYA MARKETS The Kenyan shilling KES= was little changed on Monday, but touched a new all-time low and was forecast to weaken due to increased general importer dollar demand that outstripped inflows, traders said. NIGERIA OIL Nigeria's Seplat Energy SEPLAT.LG along with a partner is in talks to buy ExxonMobil's XOM.N shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome. KENYA RATES Kenya's central bank held its benchmark lending rate KECBIR=ECI at 7.0% on Monday, its Monetary Policy Committee said, citing "anchored" price increases and early indications of the economy benefiting from an accommodative stance. ETHIOPIA LOANS Ethiopia's central bank has lifted a suspension of lending by commercial banks to their customers using collateral such as property, the bank said on Monday. IVORY COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast had reached 667,000 tonnes by Nov. 28 since the start of the season on Oct. 1, exporters estimated on Monday, down 9.9% from 740,000 tonnes over the same period last season. CHINA AFRICA Chinese President Xi Jinping on Monday said a China-Africa cross-border yuan centre would be set up to provide African financial institutions with a credit line of $10 billion.
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