African equity markets are expected to open Tuesday with a cautious and selective tone, as investors balance domestic monetary signals, currency movements and the direction of global commodity prices.
South Africa eyes banks and miners
In South Africa, the JSE is likely to open narrowly mixed, with early focus on banking and mining stocks. Financials may see restrained activity as investors reassess the interest-rate outlook and the resilience of consumer demand. Mining shares are expected to take cues from overnight moves in metals, particularly gold and platinum group metals, which remain sensitive to shifts in global risk sentiment and US dollar movements.
The rand is expected to remain a key driver of intraday sentiment, with traders alert to any volatility that could influence foreign flows.
Nigeria opens with attention on policy and FX
Nigeria’s market is expected to open cautiously, as investors continue to digest the impact of recent policy adjustments and ongoing foreign-exchange reforms. Banking and energy stocks are likely to remain in focus, while consumer goods names may trade selectively amid inflation pressures and subdued purchasing power.
Local sentiment remains sensitive to currency stability and liquidity conditions, which could influence early positioning.
Egypt and North Africa steady but selective
In Egypt, equities are expected to open broadly stable, supported by interest in defensive and dividend-paying stocks. Investors continue to monitor progress on economic reforms and external financing, which remain central to confidence in the market.
Elsewhere in North Africa, markets are likely to see light volumes early in the session, with investors adopting a wait-and-see approach ahead of clearer global cues.
East and West Africa watch commodities
Markets in Kenya and Ghana are expected to open with a neutral bias, tracking movements in energy and agricultural commodities. Export-linked stocks could see modest interest if commodity prices remain supported, while domestic-focused sectors may trade quietly as investors prioritise capital preservation over risk-taking.
A data- and headline-driven session ahead
Overall, African markets are set to begin Tuesday in a measured mood, shaped by global interest-rate uncertainty, commodity price dynamics and local currency considerations. With year-end approaching and liquidity thinning, trading is likely to remain headline-driven, favouring selective positioning over broad risk exposure.
Investors will look for direction from developments in Europe and the United States later in the day, which could set the tone for afternoon trading across the continent.
Newshub Editorial in Africa – 16 December 2025
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