Market News

NAIROBI, Nov 27 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:

*Namibia holds presidential and parliamentary elections.

GLOBAL MARKETS

Asian stocks were heavy on Wednesday as investors fretted over what countries could be targeted for tariffs under incoming U.S. President Donald Trump, a day after he pledged new levies on Canada, Mexico and China.

WORLD OIL PRICES

Oil prices steadied in early trade on Wednesday, with markets assessing the potential impact of a ceasefire deal between Israel and Hezbollah, and ahead of Sunday’s OPEC+ meeting.

SOUTH AFRICA MARKETS

South Africa’s rand slipped on Tuesday as U.S. President-elect Donald Trump’s tariff threat on its neighbours and China weighed on emerging markets.

NIGERIA CENTRAL BANK RATE

Nigeria’s central bank raised its key interest rate for the sixth time this year on Tuesday, citing renewed inflationary and exchange rate pressures in Africa’s most populous nation.

NIGERIA PETROLEUM

Nigeria’s Port Harcourt refinery has resumed production, officials said on Tuesday, marking the first of state-owned oil firm NNPC Ltd’s four plants to return from upgrade work announced in 2020.

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KENYA MARKETS

The Kenyan shilling was unchanged against the dollar on Tuesday, as dollar inflows from remittances matched rising importer demand, one trader said.

MALI BARRICK GOLD

Four employees of Canada’s Barrick Gold have been charged and detained pending trial in Mali, the company said on Tuesday, as the military-led government strives to raise more money from mining companies.

ANGOLA IMF

Angola is not in talks with the International Monetary Fund on a new financial assistance programme, its finance ministry said on Tuesday, prompting a slide in its foreign sovereign bonds.

((Compiled by Nairobi Newsroom))