Market News

Nov 21 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

EVENTS:

Senegal to announce results of parliamentary elections. The ruling Pastef party is expected to secure a majority.

Rwanda’s central bank is due to announce its latest repo rate decision. In August, the bank lowered its key interest rate by 50 basis points to 6.5%.

Kenya’s President William Ruto will deliver a State of the Nation address to a joint session of parliament, following months of political turmoil.

GLOBAL MARKETS

Asian equities fell on Thursday after AI darling Nvidia disappointed investors with a subdued revenue forecast, while the dollar firmed and bitcoin hit a record high in anticipation of U.S. President-elect Donald Trump’s proposed policies.

WORLD OIL PRICES

Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine.

SOUTH AFRICA MARKETS

South Africa’s rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.

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KENYA MARKETS

The Kenyan shilling strengthened slightly on Wednesday, data from the London Stock Exchange Group showed.

MALI POLITICS

Mali’s Prime Minister Choguel Maiga has been fired, state television ORTM said on Wednesday of the civilian who criticised the ruling junta’s failure to organise elections within a promised 24-month transition back to democracy.

UGANDA POLITICS

A veteran Ugandan opposition politician was kidnapped during a book launch in Kenya at the weekend, transferred to Uganda and is being held at a military jail in the capital, his wife said on Wednesday.

((Compiled by Nairobi Newsroom))