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African Markets - Factors to watch on November 12

By Reuters News

NAIROBI, Nov 12 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

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GLOBAL MARKETS

Global stocks wobbled at the start of Asian trade on Thursday, while Nvidia NVDA.O shares plunged in after-hours trading on news that its board may oust longtime CEO Jensen Huang.MKTS/GLOB


WORLD OIL PRICES

Oil prices dropped more than $1 on Thursday as hopes for progress in peace talks over the Middle East and the Russia-Ukraine wars pressured the market.O/R


AFRICA STOCKS

For the latest news on African stocks, click on .J


SOUTH AFRICA MARKETS

The South African rand was steady in early trade on Wednesday, despite a stronger dollar supported by a hotter-than-expected US inflation report and hawkish comments from Federal Reserve officials that fuelled bets the US central bank will raise rates next month.


NIGERIA CRUDE OIL

Nigeria's crude oil output averaged 1.69 million barrels per day (bpd) in October, upstream regulator data showed on Wednesday, with production peaking at 1.79 million bpd and dipping to 1.60 million bpd during the month.


MAURITIUS CENTRAL BANK RATE

The Bank of Mauritius raised its key interest rate MUCBIR=ECI by 25 basis points to 5.0% on Wednesday, citing the risk that inflation could become entrenched above its target range.


DEMOCRATIC REPUBLIC OF CONGO POLITICS

The president of the Democratic Republic of Congo, Felix Tshisekedi, has approved a law to allow constitutional changes to be put to a referendum, a move critics say could lay the groundwork for him to seek a third term in power.

MOZAMBIQUE GAS

Independent power producer Globeleq expects to finalise a restructured financing package with investors for its $660 million gas project in Mozambique by year-end, a senior official said on Wednesday, after destructive weather and political violence delayed construction and increased costs.


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