African Markets – Factors to watch on Dec 16

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

– – – – –

GLOBAL MARKETS

Asian stocks tumbled while the dollar drifted near two-month lows on Tuesday as investors adopted a cautious approach ahead of a slate of U.S. data, including the jobs report, that may help gauge the trajectory for Federal Reserve policy next year.

WORLD OIL PRICES

Oil prices fell on Tuesday, adding to the previous session’s losses, as prospects for a Russia-Ukraine peace deal appeared to strengthen, raising expectations of a potential easing of sanctions.

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 strengthened on Monday, supported by higher gold prices as local investors look towards the year’s last pieces of economic data for clues on the health of Africa’s most industrialised economy.

SENEGAL DEBT

Senegal’s international bonds fell on Monday after a regional debt auction last week drew weak demand despite higher interest rates, unsettling investors.

KENYA INFRASTRUCTURE

Kenya’s cabinet has approved the creation of an infrastructure fund and a sovereign wealth fund to finance projects such as roads and power plants and ease pressure on public borrowing, it said on Monday.

GHANA MINING

Ghana has banned mining in forest reserves as part of sweeping environmental protections aimed at safeguarding water bodies and halting deforestation, the Ministry of Environment, Science and Technology said.

IVORY COAST BONDS

Ivory Coast’s international bonds rose on Monday after Fitch Ratings upgraded the West African nation’s credit score, citing strong economic growth, political stability and fiscal reforms.

NIGERIA INFLATION

Nigeria’s headline inflation rate eased for the eighth consecutive month in November, helped by slowing food inflation, official data showed on Monday.

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))