
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="624" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-820x624.jpg" alt="" class="wp-image-558769" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-820x624.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-300x228.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-118x90.jpg 118w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-768x584.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-1536x1169.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A worker puts an ingot of platinum into a box at the Krastsvetmet nonferrous metal plant in the Siberian city of Krasnoyarsk in this March 25, 2008 file photo. REUTERS/Ilya Naymushin/File Photo</figcaption></figure>



<p>LONDON, Nov 26 (Reuters) &#8211; The global platinum market will be in a structural deficit for a third consecutive year in 2025 as mine supply remains constrained despite rising recycling and a 1% decline in demand, the World Platinum Investment Council said on Tuesday.</p>



<p>The WPIC, whose members are major Western platinum producers, expects the global market to show a shortfall of 539,000 troy ounces of platinum next year compared with a revised estimated deficit of 682,000 ounces this year.</p>



<p>&#8220;The market is facing the third year of pretty material deficit in 2025, with automotive demand expected to grow to an eight-year high and jewellery demand to rise for the second year in a row after bottoming out,&#8221; said Edward Sterck, head of research at the WPIC.</p>



<p>This year&#8217;s forecast was reduced from the deficit of 1.0 million ounces predicted by the WPIC in September, as a more stable power supply in South Africa helped the country&#8217;s mines to process more concentrates held as a work-in-progress inventory.</p>



<p>Next year, the WPIC expects mine supply to fall 2% due to lower South African production and to be fully offset by a 12% recovery in recycled supply.</p>



<p>Meanwhile, demand from the auto sector, which uses platinum in catalytic converters to reduce harmful emissions from vehicle exhaust systems, is projected to fall by 2% this year to 3.2 million ounces due to economic uncertainty and high interest rates.</p>



<p>Next year, the WPIC sees the auto demand recovering by 2% to its highest level since 2017 due to growth in sales of hybrid vehicles, stricter emissions legislation, and platinum-for-palladium substitution, the WPIC, which uses data from consultancy Metals Focus, added.</p>



<p>To cover the deficit, above-ground stocks will fall by 15% to 3.0 million ounces, equal to just over four months of global demand.</p>



<p>PLATINUM SUPPLY/DEMAND (&#8216;000 oz)*</p>



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td></td><td>2022</td><td>2023</td><td>2024f</td><td>2025f</td><td>24/23 change</td><td>25/24 change</td><td>Q3 2023</td><td>Q2 2024</td><td>Q3 2024</td></tr><tr><td>SUPPLY</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Refined production:             </td><td>5,520</td><td>5,604</td><td>5,626</td><td>5,550</td><td>0%</td><td>-1%</td><td>1,393</td><td>1,541</td><td>1,479</td></tr><tr><td>&#8211; South Africa</td><td>3,915</td><td>3,957</td><td>4,000</td><td>3,929</td><td>1%</td><td>-2%</td><td>984</td><td>1,128</td><td>1,073</td></tr><tr><td>&#8211; Zimbabwe</td><td>480</td><td>507</td><td>504</td><td>522</td><td>-1%</td><td>3%</td><td>132</td><td>126</td><td>126</td></tr><tr><td>&#8211; North America</td><td>263</td><td>275</td><td>252</td><td>232</td><td>-8%</td><td>-8%</td><td>60</td><td>59</td><td>60</td></tr><tr><td>&#8211; Russia</td><td>663</td><td>674</td><td>678</td><td>676</td><td>1%</td><td>0%</td><td>168</td><td>181</td><td>172</td></tr><tr><td>&#8211; Other</td><td>200</td><td>190</td><td>191</td><td>191</td><td>0%</td><td>0%</td><td>48</td><td>48</td><td>48</td></tr><tr><td>Change in producer inventory</td><td>+43</td><td>+11</td><td>+57</td><td>+0</td><td></td><td></td><td>-6</td><td>+35</td><td>+0</td></tr><tr><td>Total mining supply</td><td>5,563</td><td>5,615</td><td>5,683</td><td>5,550</td><td>1%</td><td>-2%</td><td>1,387</td><td>1,576</td><td>1,479</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Recycling:</td><td>1,762</td><td>1,544</td><td>1,587</td><td>1,774</td><td>3%</td><td>12%</td><td>347</td><td>388</td><td>348</td></tr><tr><td>&#8211; Autocatalyst</td><td>1,322</td><td>1,143</td><td>1,176</td><td>1,346</td><td>3%</td><td>14%</td><td>254</td><td>297</td><td>260</td></tr><tr><td>&#8211; Jewellery</td><td>372</td><td>331</td><td>335</td><td>347</td><td>1%</td><td>4%</td><td>75</td><td>72</td><td>68</td></tr><tr><td>&#8211; Industrial</td><td>69</td><td>71</td><td>76</td><td>81</td><td>8%</td><td>6%</td><td>17</td><td>19</td><td>20</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>TOTAL SUPPLY</td><td>7,326</td><td>7,159</td><td>7,269</td><td>7,324</td><td>2%</td><td>1%</td><td>1,733</td><td>1,964</td><td>1,827</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>DEMAND</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Automotive</td><td>2,751</td><td>3,223</td><td>3,173</td><td>3,245</td><td>-2%</td><td>2%</td><td>771</td><td>805</td><td>750</td></tr><tr><td>Jewellery</td><td>1,880</td><td>1,849</td><td>1,951</td><td>1,983</td><td>5%</td><td>2%</td><td>446</td><td>497</td><td>478</td></tr><tr><td>Industrial:</td><td>2,336</td><td>2,449</td><td>2,434</td><td>2,216</td><td>-1%</td><td>-9%</td><td>490</td><td>667</td><td>565</td></tr><tr><td>&#8211; Chemical</td><td>694</td><td>786</td><td>563</td><td>656</td><td>-28%</td><td>17%</td><td>147</td><td>140</td><td>137</td></tr><tr><td>&#8211; Petroleum</td><td>193</td><td>161</td><td>161</td><td>211</td><td>0%</td><td>31%</td><td>39</td><td>40</td><td>40</td></tr><tr><td>&#8211; Electrical</td><td>106</td><td>89</td><td>90</td><td>92</td><td>1%</td><td>2%</td><td>22</td><td>23</td><td>24</td></tr><tr><td>&#8211; Glass</td><td>505</td><td>521</td><td>671</td><td>286</td><td>29%</td><td>-57%</td><td>64</td><td>225</td><td>125</td></tr><tr><td>&#8211; Medical</td><td>278</td><td>292</td><td>303</td><td>314</td><td>4%</td><td>4%</td><td>71</td><td>77</td><td>78</td></tr><tr><td>&#8211; Hydrogen stationary</td><td>12</td><td>29</td><td>64</td><td>84</td><td>123%</td><td>32%</td><td>7</td><td>14</td><td>17</td></tr><tr><td>&#8211; Other</td><td>548</td><td>571</td><td>582</td><td>574</td><td>2%</td><td>-1%</td><td>139</td><td>148</td><td>144</td></tr><tr><td>Investment:</td><td>-516</td><td>397</td><td>393</td><td>420</td><td>-1%</td><td>7%</td><td>50</td><td>462</td><td>-226</td></tr><tr><td>&#8211; Change in Bars/Coins</td><td>259</td><td>322</td><td>171</td><td>151</td><td>-47%</td><td>-12%</td><td>86</td><td>17</td><td>69</td></tr><tr><td>&#8211; China Bars 500g+</td><td>90</td><td>134</td><td>157</td><td>170</td><td>17%</td><td>8%</td><td>35</td><td>41</td><td>30</td></tr><tr><td>&#8211; Change in ETF Holdings</td><td>-558</td><td>-74</td><td>150</td><td>50</td><td></td><td>-67%</td><td>-99</td><td>444</td><td>-300</td></tr><tr><td>&#8211; Change in Stocks Held by Exchanges</td><td>-307</td><td>14</td><td>-85</td><td>50</td><td></td><td></td><td>28</td><td>-40</td><td>-25</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total Demand</td><td>6,451</td><td>7,918</td><td>7,951</td><td>7,863</td><td>0%</td><td>-1%</td><td>1,756</td><td>2,431</td><td>1,567</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance</td><td>874</td><td>-759</td><td>-682</td><td>-539</td><td></td><td></td><td>-23</td><td>-467</td><td>260</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Above Ground Stocks</td><td>4,993</td><td>4,235</td><td>3,553</td><td>3,014</td><td>-16%</td><td>-15%</td><td></td><td></td><td></td></tr></tbody></table></figure>



<p>Source: Metals Focus 2020–2025 via WPIC.</p>



<p>(Reporting by Polina Devitt; Editing by Paul Simao)</p>



<p></p>


https___cloudfront-us-east-2.images.arcpublishing.com_reuters_W4HHJNKRB5JDDDLTWMJFL3RBBA

Platinum market faces third consecutive deficit in 2025, WPIC says


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Nov 22 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand firmed on Thursday after the central bank opted for another small cut to its main interest, quashing hopes of a bigger move.</p>



<h2 class="wp-block-heading" id="h-africa-currencies">AFRICA CURRENCIES</h2>



<p>Kenya&#8217;s and Nigeria&#8217;s currencies are forecast to weaken against the dollar in the next week, traders said.</p>



<h2 class="wp-block-heading" id="h-nigeria-debt">NIGERIA DEBT</h2>



<p>Nigeria&#8217;s parliament on Thursday approved the government&#8217;s request to borrow $2.209 billion from the Eurobond market or other sources to plug funding gaps in its 2024 budget.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was steady on Thursday as dollar inflows from exports matched rising demand from the manufacturing sector, one trader said.</p>



<h2 class="wp-block-heading" id="h-kenya-politics">KENYA POLITICS</h2>



<p>Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of the country&#8217;s main airport to India&#8217;s Adani Group after its founder was indicted in the United States.</p>



<h2 class="wp-block-heading" id="h-ethiopia-budget">ETHIOPIA BUDGET</h2>



<p>Ethiopia plans to spend an extra 581.98 billion Ethiopian birr ($4.8 billion) in its 2024/25 fiscal year, Prime Minister Abiy Ahmed&#8217;s office said on Thursday.</p>



<h2 class="wp-block-heading" id="h-rwanda-central-bank-rate">RWANDA CENTRAL BANK RATE</h2>



<p>Rwanda&#8217;s central bank held its key interest rate at 6.5% on Thursday after cutting it at the previous two rate-setting meetings this year.</p>



<h2 class="wp-block-heading" id="h-senegal-election">SENEGAL ELECTION</h2>



<p>Senegalese President Bassirou Diomaye Faye&#8217;s Pastef party has won 130 out of 165 seats in legislative elections, securing a clear majority in parliament and a mandate to pursue promised reforms, provisional results showed on Thursday.</p>



<h2 class="wp-block-heading" id="h-mali-politics">MALI POLITICS</h2>



<p>Mali&#8217;s ruling junta on Thursday appointed spokesperson Abdoulaye Maiga as prime minister after firing Choguel Maiga, state television ORTM said on Thursday.</p>



<h2 class="wp-block-heading" id="h-ghana-cocoa">GHANA COCOA</h2>



<p>Ghana&#8217;s graded and sealed (G&amp;S) cocoa arrivals stood at 182,937 metric tons by Nov. 7 since the start of this year&#8217;s harvest on Sept. 11, up 49% from 122,699 tons over the same period last season, figures from marketing board COCOBOD showed on Thursday.</p>



<p>((Compiled by Nairobi Newsroom))</p>


World map with charts and graphs as symbols of global finance

African Markets – Factors to watch on Nov 22


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Nov 22 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>Inflation-linked bond auction</p>



<p>Financial regulator updates on two-pot pension reform</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand firmed on Thursday after the central bank opted for another small cut to its main interest rate, quashing hopes of a bigger move.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes closed higher after choppy trading on Thursday, with the blue-chip Dow and the S&amp;P 500 hitting one-week tops.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Pandemic treaty by December &#8216;is still doable&#8217;</p>



<p>&#8211; Ninety One to add 400 bln rand in assets in Sanlam deal</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; US sanctions PetroSA&#8217;s Russian partner</p>



<p>&#8211; Mr Price thinks tax clampdown on Shein and Temu is working</p>



<p>(Compiled by Alexander Winning)</p>


istockphoto-1076949610-612×612-1

South African Markets – Factors to watch on Nov 22


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Nov 21 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-economic-event">ECONOMIC EVENT</h2>



<p>The South African Reserve Bank to announce interest rate decision</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>South Africa&#8217;s Mr Price profit rises in first half on better Q2 sales</p>



<p>South Africa&#8217;s Investec to release half-year results</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.</p>



<p>On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed about 0.8% up.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian equities fell on Thursday after AI darling Nvidia disappointed investors with slower revenue growth expectations, while the dollar firmed and bitcoin hit a record high, buoyed by hopes about U.S. President-elect Donald Trump&#8217;s policies.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The tech-heavy Nasdaq closed lower on Wednesday, taking a break from the prior session&#8217;s rally as investors worried about escalating Russia-Ukraine tensions and weak results from Target, while awaiting earnings from megacap Nvidia that landed after the bell.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices rose for a fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from U.S. Federal Reserve policymakers on the interest rate outlook. </p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; SA’s international finance pledges for its energy transition now over $13bn</p>



<p>&#8211; Tiger Brands simplifies portfolio with sale of Elizabeth Anne’s</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Drive-outs, not buy-outs: Ninety One sees competition driving consolidation despite R5bn Sanlam deal</p>



<p>&#8211; COP29 | SA upbeat on mitigation deal despite staunch opposition</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on Nov 21


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>Nov 21 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Senegal to announce results of parliamentary elections. The ruling Pastef party is expected to secure a majority.</p>



<p>Rwanda&#8217;s central bank is due to announce its latest repo rate decision. In August, the bank lowered its key interest rate by 50 basis points to 6.5%.</p>



<p>Kenya&#8217;s President William Ruto will deliver a State of the Nation address to a joint session of parliament, following months of political turmoil.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian equities fell on Thursday after AI darling Nvidia disappointed investors with a subdued revenue forecast, while the dollar firmed and bitcoin hit a record high in anticipation of U.S. President-elect Donald Trump&#8217;s proposed policies.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices edged higher on Thursday due to supply concerns triggered by escalating geopolitical tensions amid the ongoing war between Russia and Ukraine.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling strengthened slightly on Wednesday, data from the London Stock Exchange Group showed.</p>



<h2 class="wp-block-heading" id="h-mali-politics">MALI POLITICS</h2>



<p>Mali&#8217;s Prime Minister Choguel Maiga has been fired, state television ORTM said on Wednesday of the civilian who criticised the ruling junta&#8217;s failure to organise elections within a promised 24-month transition back to democracy.</p>



<h2 class="wp-block-heading" id="h-uganda-politics">UGANDA POLITICS</h2>



<p>A veteran Ugandan opposition politician was kidnapped during a book launch in Kenya at the weekend, transferred to Uganda and is being held at a military jail in the capital, his wife said on Wednesday.</p>



<p>((Compiled by Nairobi Newsroom))</p>



<p></p>


African Markets – Factors to watch on Nov 21


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>Nov 20 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.</p>



<h2 class="wp-block-heading" id="h-events">EVENTS:</h2>



<p>Senegal to announce results of parliamentary elections on Wednesday, with analysts and local media anticipating the ruling party will win a majority.</p>



<p>Kenya&#8217;s finance ministry is expected to launch hearings to prepare the 2025/26 (July-June) fiscal budget.</p>



<p>Kenya&#8217;s KCB Group is due to release its financial results for the first nine months of 2024.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian shares were cautious on Wednesday as investors looked ahead to earnings results from AI darling Nvidia where the risk of disappointment is high, while the dollar gave back a little of its recent bumper gains.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil edged up on Wednesday amid an escalation in the Ukraine war and signs of growing Chinese crude imports, while rising U.S. crude stocks checked overall price gains.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>The South African rand fell on Tuesday as investors pulled out of riskier assets after President Vladimir Putin updated Russia&#8217;s nuclear doctrine amid escalating tensions with the United States over Ukraine.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was unchanged on Tuesday as dollar inflows from exports matched demand from the manufacturing sector, one trader said.</p>



<h2 class="wp-block-heading" id="h-ghana-pensions">GHANA PENSIONS</h2>



<p>Ghana is clamping down on private pension fund managers who want to invest in offshore assets on concerns it could worsen pressure on its cedi currency, three industry sources told Reuters.</p>



<h2 class="wp-block-heading" id="h-somaliland-election">SOMALILAND ELECTION</h2>



<p>Somaliland opposition leader Abdirahman Cirro defeated incumbent president Muse Bihi Abdi in last week&#8217;s election, the electoral commission said on Tuesday, setting up a handover of power as the breakaway Somali region pushes for global recognition.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Nov 20


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg" alt="" class="wp-image-423556" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-135x90.jpg 135w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/IQMT7SFA2RNQLAQHUEOA2VEMMQ-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Illustration photo shows a two-rand coin above a South African flag April 12, 2017.   REUTERS/Thomas White/Illustration</figcaption></figure>



<p>JOHANNESBURG, Nov 19 (Reuters)&nbsp;&#8211;&nbsp;The South African rand slightly weakened in early trade on Tuesday as investors awaited a local inflation report and upcoming monetary policy decision.</p>



<p>At 0559 GMT, the rand traded at 17.9650 against the U.S. dollar, about 0.1% weaker than its previous close.</p>



<p>&#8220;It is a quiet day on the data front,&#8221; said Adam Phillips, treasury specialist at Umkhulu Treasury.</p>



<p>&#8220;Technically, the ZAR could come back to 17.80, but I think the moves today should be more measured, with some consolidation taking place,&#8221; Phillips said.</p>



<p>South Africa-focussed investors will eye October&#8217;s inflation print on Wednesday and the central bank&#8217;s monetary policy decision on Thursday.</p>



<p>The bank is expected to reduce the repo rate by 25 basis point, according to a Reuters poll of economists, after implementing a cut of the same magnitude at its September meeting.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was flat in early deals, with the yield at 9.117%.</p>



<p>(Reporting by Tannur Anders; Editing by Sherry Jacob-Phillips)</p>


Illustration photo of South African rand

South African rand softens as market awaits inflation print, rate decision


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg" alt="" class="wp-image-524600" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Nov 18 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Monday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>Foreigners&#8217; trading in South African bonds and equities</p>



<p>South African Treasury bill auction</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>S.Africa&#8217;s top poultry firm Astral expects rate cut boost</p>



<p>Mobile operator Telkom reports half year results</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>The South African rand gained on Friday as the U.S. dollar slipped, but analysts said pressure could soon build again as bets on U.S. President-elect Donald Trump&#8217;s policies remain a key market driver.</p>



<p>On the Johannesburg stock market, the blue-chip Top-40 index was up about 0.1%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Global stocks began the week on firmer footing ahead of a highly anticipated earnings release from Nvidia, while in Japan, a speech from its central bank&#8217;s head left markets none the wiser on the country&#8217;s rate outlook.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes closed lower on Friday, with the S&amp;P 500 and Nasdaq notching their biggest one-day losses in two weeks, on concerns about slower interest-rate cuts and as investors reacted to cabinet picks by U.S. President-elect Donald Trump.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold prices rose more than 1% on Monday after last week&#8217;s sharp declines, as a rally in the dollar paused, while market players awaited comments from Federal Reserve officials this week for more clues on the U.S. interest rate path.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Delay in electricity law raises concerns about reforms</p>



<p>&#8211; Treasury welcomes surprise S&amp;P decision to raise SA credit rating outlook</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Cheap money, costly mistakes: Inside the GEPF&#8217;s controversial 6.5 billion rand impairments</p>



<p>(Compiled by Bhargav Acharya)</p>


South African Markets – Factors to watch on Nov 18


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="537" src="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-820x537.jpg" alt="" class="wp-image-423609" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-820x537.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-300x196.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-138x90.jpg 138w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-768x503.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-1536x1005.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2023/03/AJ75STV5GFI2VAY6ECK3RA5YKM-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this photo illustration taken September 9, 2015.  REUTERS/Mike Hutchings</figcaption></figure>



<p>JOHANNESBURG, Nov 18 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand gained on Monday, as markets welcomed rating agency S&amp;P&#8217;s decision to raise the country&#8217;s credit rating outlook.</p>



<p>At 0747 GMT, the rand traded at 18.12 against the dollar, 0.52% stronger than its previous close.</p>



<p>S&amp;P revised South Africa&#8217;s outlook to &#8220;positive&#8221; from &#8220;stable&#8221; on Friday, citing plans for accelerated economic reforms by the new coalition government and a pickup in private investments.</p>



<p>&#8220;The credit outlook boost may incentivise continued reforms and efforts by the government to solidify these gains, such as improvements in governance and infrastructure investments,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>Local investor focus this week will be on October inflation figures and an interest rate decision by the South African Reserve Bank (SARB).</p>



<p>The SARB is expected to cut rates by 25 basis points on Thursday.</p>



<p>&#8220;While a rate cut would align with easing global monetary policies, the SARB is likely to maintain a cautious approach to ensure currency stability and control inflation expectations amid recent ZAR volatility,&#8221; Cilliers added.</p>



<p>On the stock market, the Top-40 index was up 0.5%.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was stronger in early deals, with the yield down 5.5 basis points to 9.095%.</p>



<p>(Reporting by Bhargav Acharya; Editing by Mrigank Dhaniwala)</p>


South African Rand coins are seen in this photo illustration

South African rand firms on S&P outlook upgrade


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="427" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/7KVHJR6UA5PHZGXNL4DBLFNXXE.avif" alt="" class="wp-image-554607"/><figcaption class="wp-element-caption">People buy and sell vegetables at Mile 12 International Market in Lagos, Nigeria May 13, 2022. REUTERS/Temilade Adelaja/File photo</figcaption></figure>



<p>ABUJA, Nov 15 (Reuters) &#8211; Nigeria&#8217;s inflation rate rose for the second straight month in October, advancing to 33.88% in annual terms NGCPIY=ECI from 32.70% in September mainly due to higher food prices, official data showed on Friday.</p>



<p>Inflation quickened sharply in the second half of last year after President Bola Tinubu devalued the country&#8217;s naira currency&nbsp;NGN=D1&nbsp;and cut subsidies to try to lift economic growth and shore up public finances.</p>



<p>It started to ease in July this year as the impact of the naira devaluation began to fade, but a series of petrol price increases and severe flooding that has wiped out crops again spurred price pressures, exacerbating the worst cost-of-living crisis in decades in Africa&#8217;s most populous nation.</p>



<p>A report by the National Bureau of Statistics said food inflation reached 39.16% year-on-year in October from 37.77% the previous month&nbsp;NGFINF=ECI, caused by price rises for staples such as rice, maize, bread, potatoes and cooking oil.</p>



<p>Torrential rain and floods in 29 of Nigeria&#8217;s 36 states this year have destroyed more than 1.5 million hectares of cropland, making millions go hungry and causing mass displacement.</p>



<p>The central bank has hiked interest rates five times this year to try to get inflation under control. It is due to announce its final rate decision&nbsp;NGCBIR=ECI&nbsp;of the year on Nov. 26.</p>



<p>(Reporting by Chijioke Ohuocha; Additional reporting by Mohd Edrees in Bengaluru; Editing by Alexander Winning)</p>


7KVHJR6UA5PHZGXNL4DBLFNXXE

Nigeria inflation rises for second month, spurred by food


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="461" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002-820x461.jpeg" alt="" class="wp-image-554559" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002-820x461.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002-300x169.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002-160x90.jpeg 160w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002-768x432.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002-1536x864.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/11/108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002.jpeg 1600w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">Bank of England in the City of London on 6th November 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. The City of London is widely referred to simply as the City is also colloquially known as the Square Mile. (photo by Mike Kemp/In Pictures via Getty Images)<br>Mike Kemp | In Pictures | Getty Images</figcaption></figure>



<p>The U.K. economy grew less than expected in the third quarter of the year, showing only marginal growth following a rebound at the start of the year, initial figures showed Friday.</p>



<p>Gross domestic product came in at&nbsp;0.1% in the&nbsp;three months to September compared to the previous quarter. That’s&nbsp;below the 0.2% growth expected by economists polled by Reuters and&nbsp;follows an expansion of 0.5% in the second quarter of the year.</p>



<p>U.K.’s dominant services sector also grew just 0.1% on the quarter, the Office for National Statistics said. Construction rose by 0.8%, while production slipped 0.2% in the month.</p>



<p>It comes after inflation in the U.K. fell sharply to 1.7% in September, dipping below the Bank of England’s 2% target for the first time since April 2021. The fall in inflation helped pave the way for the central bank to cut rates by 25 basis points on Nov. 7, bringing its key rate to 4.75%.</p>



<p>The Bank of England said last week it expects the Labour Government’s tax-raising budget to boost GDP by 0.75 percentage points in a year’s time. Policymakers also noted that the government’s fiscal plan had led to an increase in their inflation forecasts.</p>



<p>U.K. Finance Minister Rachel Reeves said Friday she was “not satisfied” with the numbers.</p>



<p>“At my Budget, I took the difficult choices to fix the foundations and stabilise our public finances.&nbsp;Now we are going to deliver growth through investment and reform to create more jobs and more money in people’s pockets, get the NHS back on its feet, rebuild Britain and secure our borders in a decade of national renewal,” she said in a release.</p>



<p>A rate cut at the BOE’s next meeting in December now looks “improbable,” according to Suren Thiru, economics director at the Institute of Chartered Accountants in England and Wales. He said inflation risks and growing global headwinds will likely prevent policymakers from pursuing back-to-back rate cuts.</p>



<p>“These figures suggest that the economy went off the boil even before the budget, as weaker business and consumer confidence helped weaken output across the third quarter, particularly in September,” Thiru said in emailed comments.</p>



<p>The outcome of the recent U.S. election has fostered much uncertainty about the global economic impact of another term from President-elect Donald Trump. While Trump’s proposed tariffs are expected to be widely inflationary and hit the European economy hard, some analysts have said such measures could provide opportunities for the British economy.</p>



<p>Bank of England Governor Andrew Bailey gave little away last week on the bank’s views of Trump’s tariff agenda, but he did reference risks around global fragmentation.</p>



<p>“Let’s wait and see where things get to. I’m not going to prejudge what might happen, what might not happen,” he told reporters during a press briefing.</p>



<p>The British pound ticked slightly higher by 0.1% against the U.S. dollar at 7:33 a.m. in London. It dipped 0.15% against the euro following Friday’s GDP release. </p>


108063216-1731601889272-gettyimages-2183863696-20241106_city_skyline_mist_002

UK economy ekes out 0.1% growth in the third quarter, below expectations


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="567" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg" alt="" class="wp-image-502655" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-820x567.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-300x208.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-130x90.jpg 130w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-768x531.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-1536x1063.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/07/TAKTGYGGUFIUFGNJON3QOOIO24-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">South African Rand coins are seen in this illustration picture taken October 30, 2020.  REUTERS/Mike Hutchings/File Photo</figcaption></figure>



<p>JOHANNESBURG, Nov 14 (Reuters) &#8211; South Africa&#8217;s rand was stable early on Thursday after trading turbulently in the days after Donald Trump&#8217;s U.S. election win, ahead of September&#8217;s mining production data.</p>



<p>At 0803 GMT, the rand traded at 18.2400 against the dollar, near its previous close of 18.2450.</p>



<p>Mining data for September at 0930 GMT will give clues on the health of Africa&#8217;s most industrialised economy.</p>



<p>The rand has lost almost 5% against the greenback since the U.S. election last week as markets expect Trump&#8217;s policies to bring higher short-term economic growth but also potentially inflationary pressures.</p>



<p>&#8220;It&#8217;s not only the rand that has found itself in free fall, but all emerging markets,&#8221; said Rand Merchant Bank analysts in a research note.</p>



<p>&#8220;This sell off is by no means negative sentiment in South Africa but rather a very buoyant dollar,&#8221; the note added.</p>



<p>On the Johannesburg stock market, the blue-chip Top-40 index traded 0.1% down.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was little changed in early deals, with the yield at 9.15%.</p>



<p>(Reporting by Tannur Anders; editing by Philippa Fletcher)</p>


South African Rand coins are seen in this illustration picture

South African rand stable after big losses, mining data ahead


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="350" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1.jpg" alt="" class="wp-image-400879" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1040865674-612x612-1-300x172.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Stock market report. 3d illustration</figcaption></figure>



<p>JOHANNESBURG, Nov 14 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>September mining production data</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>MTN Group third quarter earnings</p>



<p>Gold Fields third quarter operational update</p>



<p>Sanlam third quarter operational update</p>



<p>Gary Arnold named Astral Foods chief executive officer, effective Feb. 1, 2025</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand staged a recovery on Wednesday after three days of heavy losses as markets fretted over what U.S. President-elect Donald Trump&#8217;s policies could mean for trade relations, while U.S. inflation rose as expected.</p>



<p>On the Johannesburg stock market, the blue-chip Top-40 index was down about 0.2%.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Weak China markets dragged broader Asian shares lower on Thursday, while longer-dated U.S. bond yields rose alongside the dollar as investors assessed the monetary policy and inflation outlook in the world&#8217;s largest economy.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>The Dow and the S&amp;P 500 ended slightly higher on Wednesday while the Nasdaq lost ground after October data showed consumer prices rising in line with expectations, adding support to bets that the U.S. Federal Reserve will cut interest rates in December.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold fell for a fifth straight session on Thursday to hit its lowest level in eight weeks, pressured by a stronger U.S. dollar and rising Treasury yields amid uncertainty over the pace of the Federal Reserve&#8217;s interest rate cuts.</p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; Government to cut state guarantees for IPPs</p>



<p>&#8211; Treasury releases proposal for second phase of carbon tax</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Carbon tax: Eskom to receive &#8216;price neutrality&#8217; in phase 2</p>



<p>(Compiled by Tannur Anders; Editing by Rashmi Aich)</p>


Stock market report. 3d illustration

South African Markets – Factors to watch on Nov. 14


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Weak China markets dragged broader Asian shares lower on Thursday, while longer-dated U.S. bond yields rose alongside the dollar as investors assessed the monetary policy and inflation outlook in the world&#8217;s largest economy.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices dropped slightly early on Thursday on expectations of higher global production amid forecasts for weak demand growth, while a firmer dollar also kept a lid on prices.</p>



<h2 class="wp-block-heading" id="h-south-africa-markets">SOUTH AFRICA MARKETS</h2>



<p>South Africa&#8217;s rand staged a recovery on Wednesday after three days of heavy losses as markets fretted over what U.S. President-elect Donald Trump&#8217;s policies could mean for trade relations, while U.S. inflation rose as expected.</p>



<h2 class="wp-block-heading" id="h-nigeria-petroleum">NIGERIA PETROLEUM</h2>



<p>Nigeria&#8217;s state oil firm, NNPC Ltd said on Wednesday one of its subsidiaries has agreed to supply 100 million standard cubic feet of gas per day to the Dangote oil refinery for the next 10 years.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling weakened slightly against the dollar on Wednesday, one trader said, as the U.S. currency has strengthened globally following the presidential election, increasing local demand.</p>



<h2 class="wp-block-heading" id="h-mauritius-election">MAURITIUS ELECTION</h2>



<p>Veteran Mauritian politician Navin Ramgoolam was sworn in as prime minister for his fourth term on Wednesday, a decade after he last left power, following his coalition&#8217;s dramatic triumph in a general election.</p>



<h2 class="wp-block-heading" id="h-democratic-republic-of-congo-imf">DEMOCRATIC REPUBLIC OF CONGO IMF</h2>



<p>The IMF on Wednesday said it had reached a staff-level agreement with the Democratic Republic of Congo for a new three-year, $1.77 billion economic and financial program as well as a new three-year $1.1 billion climate-focused program.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-imf">IVORY COAST IMF</h2>



<p>Ivory Coast will create a $500 million green finance fund to support sustainable growth initiatives, the International Monetary Fund (IMF) said in a statement. </p>



<h2 class="wp-block-heading" id="h-zambia-central-bank-rate">ZAMBIA CENTRAL BANK RATE</h2>



<p>Zambia&#8217;s central bank raised its benchmark lending rate by 50 basis points on Wednesday, saying inflation risks were still skewed heavily to the upside.</p>



<p>((Compiled by Nairobi Newsroom))</p>


African Markets – Factors to watch on Nov 14


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="576" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-820x576.jpg" alt="" class="wp-image-534754" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-820x576.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-300x211.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-128x90.jpg 128w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-768x540.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-1536x1079.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2024/09/LA24V6GG4VKUROZCEGVVO63DKQ-1-scaled.jpg 2048w" sizes="auto, (max-width: 820px) 100vw, 820px" /><figcaption class="wp-element-caption">A street money changer counts South African Rands in Harare, Zimbabwe,  file.  REUTERS/Philimon Bulawayo/File Photo</figcaption></figure>



<p>JOHANNESBURG, Nov 12 (Reuters)&nbsp;&#8211;&nbsp;South Africa&#8217;s rand extended its losses in early trade on Tuesday to hit a two-and-a-half month low, ahead of third quarter unemployment figures and September manufacturing data.</p>



<p>At 0805 GMT, the rand traded at 18.0375 against the dollar, about 0.6% softer than its previous close, and its weakest level since mid-August.</p>



<p>The currency has traded turbulently since Donald Trump&#8217;s U.S. election win last week.</p>



<p>The dollar firmed against a basket of currencies.</p>



<p>Local investors will look to third quarter unemployment numbers at 0930 GMT and September manufacturing output data at 1100 GMT, which could give clues on the health of Africa&#8217;s most industrialised economy.</p>



<p>&#8220;The labour market remains a significant drag on growth,&#8221; said Andre Cilliers, currency strategist at TreasuryONE.</p>



<p>&#8220;While reforms under the government of national unity (GNU) may offer a glimmer of hope, businesses are likely to remain cautious on hiring until clearer signs of sustained economic momentum emerge,&#8221; Cilliers added.</p>



<p>On the Johannesburg stock market, the Top-40 index was down about 0.8%.</p>



<p>South Africa&#8217;s benchmark 2030 government bond was weaker in early deals, with the yield up 5.7 basis points to 9.282%.</p>



<p>(Reporting by Tannur Anders; Editing by Alex Richardson)</p>


FILE PHOTO: A street money changer counts South African Rands in Harare

South African rand extends losses before unemployment, manufacturing data


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="408" src="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg" alt="" class="wp-image-524583" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2024/08/istockphoto-1076949610-612x612-1-135x90.jpg 135w" sizes="auto, (max-width: 612px) 100vw, 612px" /></figure>



<p>JOHANNESBURG, Nov 12 (Reuters)&nbsp;&#8211;&nbsp;The following scheduled economic events, company announcements, equity and currency market moves may affect South African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-economic-events">ECONOMIC EVENTS</h2>



<p>Q3 unemployment rate</p>



<p>September manufacturing output</p>



<p>Government bond auction&nbsp;SARB24</p>



<h2 class="wp-block-heading" id="h-companies">COMPANIES</h2>



<p>Premier Group interim results</p>



<p>Multichoice half-year results</p>



<h2 class="wp-block-heading" id="h-south-african-markets">SOUTH AFRICAN MARKETS</h2>



<p>South Africa&#8217;s rand slumped on Monday, buffeted by global headwinds including a softer gold price, the sputtering Chinese economy and uncertainty over future U.S. policy after Donald Trump&#8217;s election victory.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks eased while the dollar held at four-month highs on Tuesday, though the excitement was centred on bitcoin as it soared to a record peak on investor bets on assets that are likely to benefit from Donald Trump&#8217;s election win.</p>



<h2 class="wp-block-heading" id="h-wall-street">WALL STREET</h2>



<p>Wall Street&#8217;s main indexes notched record high closes on Monday, lifted by stocks expected to benefit from Republican President-elect Donald Trump&#8217;s potential fiscal policies.</p>



<h2 class="wp-block-heading" id="h-gold">GOLD</h2>



<p>Gold hovered near a one-month low on Tuesday, as investors awaited a set of key U.S. economic data and comments from Federal Reserve officials for further clarity on the interest rate trajectory. </p>



<p>&#8211; &#8211; &#8211; &#8211;</p>



<p>Some of the main stories out in the South African press:</p>



<h2 class="wp-block-heading" id="h-business-day">BUSINESS DAY</h2>



<p>&#8211; City Power averts Joburg power crisis</p>



<p>&#8211; Climate finance: The impact of potential US withdrawal for Africa</p>



<h2 class="wp-block-heading" id="h-fin-24">FIN 24</h2>



<p>&#8211; Transnet scrambles with equipment delivery as peak fruit exports loom</p>



<p>(Compiled by Alexander Winning)</p>


South African Markets – Factors to watch on Nov 12


<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="612" height="357" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg" alt="" class="wp-image-400669" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1.jpg 612w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istockphoto-1030878162-612x612-1-300x175.jpg 300w" sizes="auto, (max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">World map with charts and graphs as symbols of global finance</figcaption></figure>



<p>NAIROBI, Nov 12 (Reuters) &#8211; The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.</p>



<h2 class="wp-block-heading" id="h-global-markets">GLOBAL MARKETS</h2>



<p>Asian stocks eased while the dollar held at four-month highs on Tuesday, though all the excitement was centred on bitcoin as it soared to a record peak underpinned by investor bets on assets that are likely to benefit from Donald Trump&#8217;s election win.</p>



<h2 class="wp-block-heading" id="h-world-oil-prices">WORLD OIL PRICES</h2>



<p>Oil prices were little changed in early trading on Tuesday, awaiting further price direction from OPEC&#8217;s monthly report after China&#8217;s stimulus plan and oversupply concerns took the wind out of markets in prior sessions.</p>



<p>SOUTH AFRICA MARKETS</p>



<p>South Africa&#8217;s rand slumped on Monday, buffeted by global headwinds including a softer gold price, the sputtering Chinese economy and uncertainty over future U.S. policy after Donald Trump&#8217;s election victory.</p>



<h2 class="wp-block-heading" id="h-kenya-markets">KENYA MARKETS</h2>



<p>The Kenyan shilling was steady against the dollar on Monday, as inflows from the agriculture and tourism sectors matched demand from general goods importers and oil marketing companies, traders said.</p>



<h2 class="wp-block-heading" id="h-mauritius-election">MAURITIUS ELECTION</h2>



<p>Mauritius&#8217; incumbent Prime Minister Pravind Jugnauth said on Monday his political alliance was headed for a major defeat to a rival coalition led by a three-time former premier following Sunday&#8217;s parliamentary election.</p>



<h2 class="wp-block-heading" id="h-zambia-economy">ZAMBIA ECONOMY</h2>



<p>The International Monetary Fund said on Monday that it reached a staff-level agreement for the fourth review of Zambia&#8217;s loan program that would release about $185.5 million to Lusaka upon approval by the IMF&#8217;s management and its executive board.</p>



<h2 class="wp-block-heading" id="h-senegal-economy">SENEGAL ECONOMY</h2>



<p>Senegal will have to wait until at least June to get any sort of resolution of its lending programme with the International Monetary Fund that could lead to fresh disbursements, a source with knowledge of the process told Reuters.</p>



<h2 class="wp-block-heading" id="h-ivory-coast-cocoa">IVORY COAST COCOA</h2>



<p>Cocoa arrivals at ports in top grower Ivory Coast reached 455,000 metric tons by Nov. 10 since the start of the season on Oct. 1, up 30% from the same period last season, exporters estimated on Monday.</p>



<h2 class="wp-block-heading" id="h-ghana-politics">GHANA POLITICS</h2>



<p>Ghana&#8217;s main opposition leader John Dramani Mahama looks set to win December&#8217;s presidential election, an opinion poll showed on Monday, placing him ahead of his main challenger, ruling party candidate Muhamudu Bawumia.</p>



<h2 class="wp-block-heading" id="h-botswana-politics">BOTSWANA POLITICS</h2>



<p>Botswana&#8217;s Vice President Ndaba Gaolathe will double as finance minister, new President Duma Boko said on Monday, announcing the first ministerial positions in his cabinet.</p>



<p>((Compiled by Nairobi Newsroom))</p>


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