May 18, 2017 / 4:48 AM / 3 months ago

African Markets - Factors to watch on May 18

    NAIROBI, May 18 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
    - - - - -
 GLOBAL MARKETS
 Asian stocks fell on Thursday and the dollar was stuck near
 six-month lows against a basket of currencies as uncertainty
 mounted over U.S. President Donald Trump's future following
 reports that he tried to interfere with a federal
 investigation.                             
 
 WORLD OIL PRICES
 Oil prices dipped on Thursday, weighed down by plentiful
 supplies despite an ongoing effort led by OPEC to cut
 production in order to tighten the market and prop up
 prices.                      
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand retreated from three-week highs on
 Wednesday as concerns over the fate of promised U.S. fiscal
 stimulus pulled investors away from emerging currencies into
 safe-haven assets.             
 
 KENYA MARKETS
 The Kenyan shilling        edged lower on Tuesday mainly due
 to demand for dollars by oil importers.             
 
 KENYA OIL
 Africa-focused oil company Tullow Oil Plc         said it
 encountered 75 metres of net oil pay in two zones at an
 exploration well in Northern Kenya.               
 
 NIGERIA ENERGY
 Nigeria's refineries processed 10 million barrels of crude
 oil in the first quarter, more than they did for the whole
 of 2015, after talks with militants reduced attacks on
 facilities, the head of the Nigerian National Petroleum
 Corporation (NNPC) said.               
 
 NIGERIA LOANS
 Nigeria plans to raise $3.5 billion in foreign loans
 including from the World Bank and from international debt
 markets to help fund its 2017 budget deficit, the head of
 its budget office told Reuters on Wednesday.               
 
 UGANDA
 Uganda's energy ministry said on Wednesday it would award
 three exploration licences next month and also said it had
 selected two firms with whom it would start negotiations for
 a possible agreement to develop a planned crude refinery.   
                 
 
 GHANA CRUDE
 Tullow Oil         plans to drill new wells and boost output
 at its TEN field off the coast of Ghana to 80,000 barrels
 per day (bpd) once a maritime border dispute with Ivory
 Coast is resolved, the company said on Wednesday.  
                
 
 ZAMBIA MINING
 Zambia is close to reaching an agreement with mining
 companies over its plans to increase electricity prices,
 Finance Minister Felix Mutati said on Wednesday.   
                 
 
     ZAMBIA RATES
 Zambia's central bank cut its benchmark lending rate by 150
 basis point to 12.5 percent, Governor Denny Kalyalya said on
 Wednesday, citing lower inflation and subdued economic
 growth.              
 
 CENTRAL AFRICA REPUBLIC VIOLENCE
 Red Cross workers have found 115 bodies in Central African
 Republic's diamond-mining town of Bangassou after several
 days of militia attacks, the president of the aid group's
 local branch said on Wednesday.                
 
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