Nairobi — A mix of global market movements, oil prices, monetary policy expectations, energy developments and political events are likely to influence African markets on Tuesday.

Global Markets

Technology stocks pushed Asian markets higher as lower oil prices improved investor sentiment. Markets were also watching prospects for U.S.-Iran talks, while the dollar remained firm amid expectations that further U.S. interest-rate increases may be needed to contain inflation.

World Oil Prices

Oil prices edged higher as markets steadied following several sessions of declines. Investors were awaiting developments around potential U.S.-Iran discussions at the United Nations General Assembly this week.

Africa Stocks

Investors will monitor developments across African equity markets, with corporate announcements and global market movements likely to influence trading sentiment.

South Africa Markets

The South African rand was steady as investors looked ahead to inflation data and the South African Reserve Bank’s monetary policy decision for signals on the country’s interest-rate outlook.

BRITAIN — MAURITIUS — CHAGOS ISLANDS

British Prime Minister Andy Burnham said he remained determined to find a resolution to the disputed status of the U.S.-British military base on Diego Garcia in the Indian Ocean.

Namibia Oil

Namibia has selected a TotalEnergies-led bidding group to supply the country’s bulk diesel and petrol requirements for three months, from November through January, according to Energy Minister Modestus Amutse.

Nigeria Energy

Nigeria’s $300 million Distributed Renewable Energy Fund has been commercially launched, moving from its structuring phase toward capital deployment, according to the country’s sovereign wealth fund.

The initiative is expected to support investment in distributed renewable-energy projects as Nigeria seeks to expand electricity access and diversify its energy mix.

West Africa Crude

West African crude differentials were expected to soften as higher shipping costs weigh on buying interest, according to traders.

Ivory Coast Cocoa

Ivory Coast’s cocoa shipments are expected to accelerate in the coming weeks as the sector introduces a new marketing and traceability system.

The development comes as the world’s leading cocoa producer works to strengthen oversight and traceability across its cocoa supply chain.

Ethiopia Security

Seven Ethiopian armed groups, including former adversaries from the country’s 2020–2022 civil war, said they had formed an alliance aimed at overthrowing Prime Minister Abiy Ahmed’s government.

The development adds a new security and political risk to monitor in East Africa.

Source: Reuters