Market News

NAIROBI, Nov 12 (Reuters) – 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 eased while the dollar held at four-month highs on Tuesday, though all the excitement was centred on bitcoin as it soared to a record peak underpinned by investor bets on assets that are likely to benefit from Donald Trump’s election win.

WORLD OIL PRICES

Oil prices were little changed in early trading on Tuesday, awaiting further price direction from OPEC’s monthly report after China’s stimulus plan and oversupply concerns took the wind out of markets in prior sessions.

SOUTH AFRICA MARKETS

South Africa’s rand slumped on Monday, buffeted by global headwinds including a softer gold price, the sputtering Chinese economy and uncertainty over future U.S. policy after Donald Trump’s election victory.

KENYA MARKETS

The Kenyan shilling was steady against the dollar on Monday, as inflows from the agriculture and tourism sectors matched demand from general goods importers and oil marketing companies, traders said.

MAURITIUS ELECTION

Mauritius’ incumbent Prime Minister Pravind Jugnauth said on Monday his political alliance was headed for a major defeat to a rival coalition led by a three-time former premier following Sunday’s parliamentary election.

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ZAMBIA ECONOMY

The International Monetary Fund said on Monday that it reached a staff-level agreement for the fourth review of Zambia’s loan program that would release about $185.5 million to Lusaka upon approval by the IMF’s management and its executive board.

SENEGAL ECONOMY

Senegal will have to wait until at least June to get any sort of resolution of its lending programme with the International Monetary Fund that could lead to fresh disbursements, a source with knowledge of the process told Reuters.

IVORY COAST COCOA

Cocoa arrivals at ports in top grower Ivory Coast reached 455,000 metric tons by Nov. 10 since the start of the season on Oct. 1, up 30% from the same period last season, exporters estimated on Monday.

GHANA POLITICS

Ghana’s main opposition leader John Dramani Mahama looks set to win December’s presidential election, an opinion poll showed on Monday, placing him ahead of his main challenger, ruling party candidate Muhamudu Bawumia.

BOTSWANA POLITICS

Botswana’s Vice President Ndaba Gaolathe will double as finance minister, new President Duma Boko said on Monday, announcing the first ministerial positions in his cabinet.