African Markets - Factors to watch on Nov 28 - Reuters

November 28, 2016
NAIROBI, Nov 28 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
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EVENTS:
SOUTH AFRICA - Johannesburg Stock Exchange Limited, a bourse operator, is expected to release data on foreigners' buying and selling of South African bonds and stocks during last week.

GLOBAL MARKETS:
Oil prices tumbled on Monday on fears that producer countries may fail to agree an output cut, pressuring U.S. stocks and the dollar as traders reversed their "Trumpflation" trade as weak oil prices would reduce pressure on U.S. interest rates to rise.

WORLD OIL PRICES
Oil prices regained some ground after steep losses made since Friday in choppy trading ahead of a planned producer meeting on Wednesday aimed at reining in global oversupply.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand weakened on Friday after Fitch cut its rating outlook to negative as it affirmed the country's investment grade rating at one-notch above "junk".

NIGERIA CRUDE
Nigeria, typically Africa's biggest crude oil producer, is considering importing crude from neighbouring Niger due to militant attacks on pipelines in the Niger Delta that feed its refineries, a state oil company spokesman said on Friday.

KENYA MARKETS
The Kenyan shilling was stable on Friday as recent importer demand for dollars tailed off.

ZIMBABWE CURRENCY
Zimbabwe's central bank said on Saturday it will circulate $10 million worth of new bond notes on Monday, a quasi-currency that authorities expect to ease a serious cash crunch, but will limit withdrawals to curb any abuses.

UGANDA SECURITY
The Ugandan authorities said on Sunday 41 tribal insurgents and 14 police officers were killed in clashes in the west of the country, and the tribal king of the area near the border with the Democratic Republic of Congo was detained.

DEMOCRATIC REPUBLIC OF CONGO SECURITY
An ethnic Nande militia in eastern Democratic Republic of Congo killed about 30 civilians, mostly Hutus, on Sunday morning, local sources said, in an apparent escalation of deadly violence between the two groups that has flared repeatedly this year.

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Steven Rich
Sep 17, 2018:
Well done
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