NAIROBI, Nov 6 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
LIBERIA – Supreme Court to rule on presidential election runoff today.
Asian shares stepped away from recent decade highs on Monday
while the U.S. dollar staged a broad-based rally and oil
jumped to a more than two-year peak as Saudi Arabia’s crown
prince cemented his power through an anti-corruption
WORLD OIL PRICES
Oil prices hit their highest levels since July 2015 early on
Monday as markets tightened, while Saudi Arabia’s crown
prince cemented his power over the weekend through an
anti-corruption crackdown that included high profile
SOUTH AFRICA MARKETS
South Africa’s rand tumbled more than two percent on Friday,
while bonds also weakened sharply as investors who had
bought the assets cheap earlier in the week sold out, while
firm U.S. data also added pressure.
Nigeria’s Diamond Bank is quitting other West African
markets to focus efforts at home and deploy its resources on
personal banking business in Africa’s biggest economy, it
said on Friday.
A Nigerian militant group whose attacks on energy facilities
in the Niger Delta last year helped push Africa’s biggest
economy into recession said on Friday it had ended its
The Kenyan shilling made modest gains against the
dollar on Friday with foreign exchange earnings from
horticulture exports outpacing demand from retailers and oil
importers, traders said.
Safaricom, Kenya’s biggest mobile telecoms
company, reported a sharp drop in profits growth on Friday,
hit by a faltering economy partly disrupted by the political
Private sector activity in Kenya dropped to a record low in
October as prolonged political instability exerted a heavy
toll on the economy, survey data showed on
Cameroon’s economic growth rate is expected to slip to 3.7
percent this year, down from an earlier estimate of around 4
percent, due to falling oil production, the International
Monetary Fund said on Friday.
DEMOCRATIC REPUBLIC OF CONGO POLITICS
Congo’s electoral commission announced on Sunday that
long-awaited presidential elections to replace President
Joseph Kabila would take place on December 23,