African Markets – Factors to watch on Dec 1

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

– – – – –

GLOBAL MARKETS

Stocks turned lower on Monday after a strong end to November as a bout of risk aversion gripped markets even as U.S. rate-cut optimism remained intact while the yen firmed, with investors weighing the prospect of a rate hike as soon as this month.

WORLD OIL PRICES

Oil prices rose as much as 1.5% on Monday after OPEC+ members reaffirmed a plan to pause production increases in the first quarter of next year and the prospect of U.S. action against oil producer Venezuela unsettled the market.

EMERGING MARKETS

For the top emerging markets news, double click on

AFRICA STOCKS

For the latest news on South African stocks, click on

SOUTH AFRICA MARKETS

The South African rand edged up on Friday after the release of monthly economic data from the central bank, revenue service agency and National Treasury.

DEMOCRATIC REPUBLIC OF CONGO WAR

The presidents of Democratic Republic of Congo and Rwanda will travel to Washington next week to sign a peace deal and meet with U.S. President Donald Trump, three sources told Reuters, as the U.S. tries to broker peace in war-hit eastern Congo and attract Western mining investments to the region.

Two diplomatic sources and Tina Salama, spokesperson for Congolese President Felix Tshisekedi, told Reuters the meeting would take place on December 4.

KENYA INFLATION

Kenya’s inflation (KECPI=ECI) was at 4.5% year-on-year in November, the statistics office said on Friday, slightly lower than the previous month’s reading of 4.6%.

KENYA LOANS

Kenya and two Chinese state firms launched construction of a $1.5 billion highway expansion on Friday, marking Beijing’s return to major infrastructure development in the East African economy after a years-long hiatus.

SENEGAL IMF

The International Monetary Fund has concerns over Senegal’s liquidity needs, the country’s finance minister said on Friday.

For the latest precious metals report click on

For the latest base metals report click on

For the latest crude oil report click on

((Compiled by Nairobi Newsroom))

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