Market News

NAIROBI, Nov 26 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.

EVENTS

*Nigeria’s central bank announces its latest lending rate decision.

GLOBAL MARKETS

The dollar rallied sharply on Tuesday after U.S. President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China.

WORLD OIL PRICES

Oil prices slipped in early trade on Tuesday, extending declines from the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil’s risk premium.

SOUTH AFRICA MARKETS

South Africa’s rand strengthened on Monday, as investors started the week on the front foot ahead of a slew of month-end economic data releases.

NIGERIA ECONOMY

Nigeria’s economy grew 3.46% year-on-year in the third quarter of 2024, quicker than in the first two quarters of the year, statistics agency data showed on Monday.

KENYA MARKETS

The Kenyan shilling was steady against the dollar on Monday, data from the London Stock Exchange Group showed.

IVORY COAST COCOA

Cocoa arrivals at ports in top grower Ivory Coast had reached 643,000 metric tons by Nov. 24 since the start of the season on Oct. 1, up from 481,000 tons in the same period last season, exporters estimated on Monday.

((Compiled by Nairobi Newsroom))