African Markets – Factors to watch on October 30

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

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GLOBAL MARKETS

Asian stocks advanced on Thursday after the Federal Reserve cut interest rates and as U.S. and Chinese leaders met to thrash out a trade deal, while the yen weakened after the Bank of Japan kept rates on hold as expected.

WORLD OIL PRICES

Oil prices held on to most gains from the previous session in Asian trading on Thursday as investors awaited the outcome of U.S.-China trade talks, hoping for signs that tensions clouding the outlook for world economic growth will ease.

EMERGING MARKETS

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AFRICA STOCKS

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SOUTH AFRICA MARKETS

The South African rand gained on Wednesday as investors braced for a day headlined by the Federal Reserve’s decision and signs of easing U.S.-China trade tensions.

NIGERIA DEBT

Nigeria’s parliament on Wednesday approved President Bola Tinubu’s request to borrow $2.85 billion from international debt markets, including the country’s first-ever issuance of a sovereign sukuk.

TANZANIA ELECTION

Tanzanian police ordered a curfew in Dar es Salaam on Wednesday after violent protests marred an election that President Samia Suluhu Hassan is expected to win following the disqualification of the two leading opposition candidates.

MALI MINING

Mali has revoked more than 90 mining exploration permits, including those held by subsidiaries of international mining companies, according to an official decree seen by Reuters.

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((Compiled by Nairobi Newsroom))

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