African Markets – Factors to watch on Nov 5

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

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GLOBAL MARKETS

Asian stocks dived on Wednesday and market volatility surged to levels not seen since April after an overnight tech-led selloff on Wall Street heightened concerns over stretched valuations.

WORLD OIL PRICES

Oil prices dipped on Wednesday amid a wider slump in financial markets and a strong U.S. dollar, while investors assessed the supply outlook.

EMERGING MARKETS

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AFRICA STOCKS

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SOUTH AFRICA MARKETS

South Africa’s commodity-backed rand and stocks fell more than 1% on Tuesday, tracking a decline in gold prices, which slipped below the $4,000-per-ounce threshold.

SENEGAL DEBT

The International Monetary Fund has extended its mission to Senegal by several days, a spokesperson said on Tuesday.

IVORY COAST POLITICS

Ivory Coast’s Constitutional Council on Tuesday confirmed the West African nation’s presidential election results, securing President Alassane Ouattara’s fourth term, council president Chantal Nanaba Camara announced.

KENYA DEBT

Kenya will hold further talks with the International Monetary Fund to overcome the key obstacles that have so far prevented it from securing a new support programme, the country’s Finance Minister John Mbadi said on Tuesday.

NIGERIA EQUITIES

Nigeria’s state-owned oil firm NNPC has been improving transparency about its performance in preparation for a long-awaited initial public offering, its CEO said on Tuesday.

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((Compiled by Nairobi Newsroom))

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