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African Markets - Factors to watch on Feb. 6

Published 2019-02-05, 11:49 p/m
Updated 2019-02-05, 11:50 p/m
© Reuters.  African Markets - Factors to watch on Feb. 6

NAIROBI, Feb 6 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

- - - - - GLOBAL MARKETS Asian shares started cautiously on Wednesday as investors waited to see if U.S. President Donald Trump drops any hints of progress on tariffs in his State of the Union speech.

MKTS/GLOB WORLD OIL PRICES Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains. O/R EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J

SOUTH AFRICA MARKETS South Africa's rand steadied against the dollar in late afternoon trade on Tuesday as traders awaited U.S. President Donald Trump's State of the Union address which could hint at progress in U.S.-China trade talks. SOUTH AFRICA ENERGY South African trade union federation COSATU said on Tuesday that it opposed a proposal to split power firm Eskom into three different entities, arguing this would not solve the struggling utility's governance and debt problems.

MARKETS The Kenyan shilling KES= was unchanged on Tuesday but was seen inclined on the stronger side amid hard currency inflows from offshore investors buying government debt and stocks at the Nairobi securities exchange, traders said.

GHANA MINING Ghana's President Nana Akufo-Addo demanded mining deals be more beneficial for Africa on Tuesday, calling on governments to end fiscal incentives traditionally used to attract investment to countries long viewed as rife with risk. CRISIS Zimbabwe's President Emmerson Mnangagwa invited opposition leaders to a meeting on Wednesday to draw up terms for a national dialogue, they said, following a brutal crackdown on anti-government protests. CORRUPTION Zambia's infrastructure and housing minister has been charged with concealing property believed to have been bought with the proceeds of crime, the Anti-Corruption Commission (ACC) said. EQUATORIAL GUINEA MINING Equatorial Guinea, known mainly for its oil and gas sector, will officially launch the country's first mining license bid round on April 1, the mines and oil minister said on Tuesday.

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