African Markets – Factors to watch on Nov 21

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

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GLOBAL MARKETS

Asian shares extended a global rout on Friday as the much-anticipated U.S. jobs data failed to provide clarity on the near-term path for interest rates, with investors returning to dumping risk assets even after Nvidia’s earnings dazzled.

WORLD OIL PRICES

Oil prices extended their decline for a third straight session on Friday as the U.S. pushed for a Russia-Ukraine peace deal that could bring more oil supplies onto the global market, while uncertainty over U.S. interest rate cuts curbed investor risk appetite.

EMERGING MARKETS

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AFRICA STOCKS

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SOUTH AFRICA MARKETS

The rand was steady on Thursday after the South African Reserve Bank (SARB) cut its main lending rate at the first meeting since its inflation target was lowered.

IVORY COAST COCOA

Ivory Coast, the world’s biggest cocoa producer, has sold 1.3 million tons of cocoa contracts for the 2025/26 October to March main crop, down from 1.4 million tons last year, amid concerns over declining harvests and production, two Coffee and Cocoa Council (CCC) sources told Reuters on Thursday.

AFRICA CURRENCIES

Kenya’s shilling is expected to weaken slightly against the dollar next week through Thursday, while Uganda’s will remain stable, traders said on Thursday, as other African currencies showed varying trends.

RWANDA RATES

Rwanda’s central bank maintained its benchmark lending rate at 6.75% (RWREPO=ECI) as it thinks the level is appropriate to keep inflation within its target range, its governor said on Thursday.

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((Compiled by Nairobi Newsroom))

((Email: nairobi.newsroom@thomsonreuters.com))