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Economy

African Markets – Factors to watch on Dec 21

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. GLOBAL MARKETS Japan's Nikkei share index .N225 rises 0.7 percent as investors pick up bargains after recent price falls, but volume is low on absence of foreign buyers. MSCI Asia share index excluding Japan .MIAPJ0000US also up 0.7 percent. [ID:nL3E6NL04Z] [MKTS/GLOB] SOUTH AFRICA MARKETS South Africa's rand advanced to four-year highs against a battered euro on Monday and stocks inched up, supported by mining shares. [ID:nLDE6BJ1L2] [.J] AFRICAN MARKETS IVORY COAST World powers voted on Monday to keep U.N. forces in Ivory Coast, defying incumbent Laurent Gbagbo's demand they leave, and the U.N. peacekeeping chief said the troops would shoot back if fired on. [ID:nN20201912] [ID:nCOC754498] NIGERIA CURRENCY The Nigerian naira NGN=D1 weakened further at the interbank market on Monday, closing at 154.85 to the dollar from 154.50 on Friday as dollar supply tightened ahead of the year-end, traders said. [ID:nLDE6BJ1EY] NIGERIA OIL * U.S. energy firm Chevron (CVX.N: Quote) said on Monday it had suspended production from an oil pipeline in Nigeria's Delta state, which was breached on Friday. [ID:nLDE6BJ0BX] * Exxon Mobil (XOM.N: Quote) said on Monday it had restarted 15,000 barrels per day (bpd) of Nigerian Oso condensate production, which was shut in following a militant raid on an offshore platform on November 14. [ID:nLDE6BJ1RK] * Royal Dutch Shell (RDSa.L: Quote) said on Monday it has ended a one-month force majeure on exports for Nigerian crude oil grade Bonny Light after repairing a pipeline in Africa's top exporter. [ID:nLDE6BJ1EM] * Nigeria has raised the official selling price (OSP) for its benchmark Bonny Light and Qua Iboe crude oil grades in January to dated Brent plus $1.75 a barrel, a trade source said on Monday. [ID:nLDE6BJ188] KENYA ATTACK Two people were killed on Monday when a bag exploded as it was about to be loaded onto a Kampala-bound bus in the Kenyan capital, an incident police said bore the hallmarks of a terrorist strike. [ID:nLDE6BJ1YH] KENYA MARKETS Kenya's benchmark share index closed higher on Monday, lifted by investors who felt prices were right after recent losses, while the shilling currency KES= held its ground against the dollar. [ID:nLDE6BJ1LG] GHANA MARKETS Ghana's cedi GHS= continued to weaken against the greenback after weeks of sustained demand for imports in the run up to Christmas, traders said on Monday. [ID:nLDE6BJ18V] GHANA TBILLS The Bank of Ghana issued results on Monday for its Dec. 17 auction of 191 million cedis ($130.8 million) of securities. [ID:nLDE6BJ0SC] ZAMBIA TELECOMS Bharti Airtel (BRTI.BO: Quote) will likely hold a 97 percent stake in its Lusaka-listed Celtel Zambia (CELZ.LZ: Quote) unit following a mandatory offer to buy out minority shareholders, data from the Lusaka Stock Exchange showed on Monday. [ID:nWEA8541] Source: Reuters

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.