The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. ---- GLOBAL MARKETS Gold prices tumbled on Monday after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum, joining the broad rout in commodities that sent oil prices to five-year lows and copper to four-year lows. WORLD OIL PRICES U.S. crude fell more than $2 to a five-year low in Asian trade on Monday, while Brent futures touched a fresh four-year low, extending a steep sell-off after OPEC decided not to cut production last week, keeping markets well supplied. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on AFRICA DEBT Yields on Kenya's Treasury bills are expected to hold steady. Nigerian bond yields are seen falling. AFRICAN BOURSES African stock exchanges should lower transaction costs and encourage new listings if they want to become more attractive vehicles for raising capital and lure new investment. SOUTH AFRICA MARKETS South Africa's rand fell to a week's low against the dollar on Friday, losing ground after the trade deficit widened sharply in October. NIGERIA MARKETS Nigeria's naira fell 2.5 percent on Friday, despite central bank intervention, and it briefly touched a record low on concerns OPEC's decision not to cut oil output would put further pressure on Nigeria's shaky finances. NIGERIA ATTACK Gunmen set off three bombs and opened fire on worshippers at the main mosque in north Nigeria's biggest city Kano on Friday, killing at least 81 people, witnesses and officials said, in an attack that bore the hallmarks of Islamist Boko Haram militants. KENYA MARKETS The Kenyan shilling was steady on Friday, and traders said that with dollar demand scant and currency inflows lacking, they expected the currency to hold in a tight range. * Inflation fell to 6.09 percent in November. UGANDA GDP Uganda said its gross domestic product has expanded by 13 percent after it rebased its calculation to incorporate new sectors in the economy. * Inflation rose to 2.1 percent in November. ETHIOPIA EUROBOND Ethiopia is sounding out investors about a plan to issue a debut dollar bond. The demand for such frontier-market debt will be a good gauge of just how adventurous asset managers have become in their quest for yield.Reuters
Money & Markets
African Markets – Factors to watch on Dec 1
- 01/12/2014
- 0 Comments
- 1 minute read
- 286 Views
