May 22, 2017 / 4:20 AM / 2 months ago

African Markets - Factors to watch on May 22

3 Min Read

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
    - - - - -
 
 GLOBAL MARKETS
 Asian stocks posted their biggest daily rise in a month on
 Monday following modest gains in U.S. shares, though the
 greenback came under renewed pressure as Washington's
 political turmoil undermines confidence in U.S. economic
 policy.                       
 
 WORLD OIL PRICES
 Oil prices rose on Monday, supported by reports that an
 OPEC-led supply cut may not only be extended into next year
 but might also be deepened 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 strengthened on Friday against the
 ailing dollar, which limped toward its worst week against
 major currencies since last July on the turbulence
 surrounding Donald Trump's U.S. presidency.            
 
 
 NIGERIA MARKETS
 Nigeria's overnight lending rate dropped to 26 percent on
 Friday from 65 percent a day earlier after the central bank
 refunded excess naira offered in an earlier dollar sale to
 commercial lenders, injecting liquidity back into the money
 market.            
 
 
 NIGERIA OIL
 A Nigerian labour union that had called for the shutdown of
 all Exxon Mobil Corp         facilities in the Niger Delta
 has suspended its strike at its Rivers state branch in the
 oil production hub, two union representatives said on
 Saturday.                        
 
 
 KENYA MARKETS
 The Kenyan shilling        was steady against the dollar on
 Friday, helped by weak dollar demand from oil importers,
 traders said.            
 
 
 KENYA POLITICS
 Police shot dead one person in northern Kenya's Isiolo
 county after a political rally attended by President Uhuru
 Kenyatta at which supporters of rival political candidates
 for regional government positions clashed, police
 said.             
 
 
 UGANDA MARKETS
 The Ugandan shilling        was unchanged versus the dollar
 on Friday due to thin demand from energy and manufacturing
 firms.
 
 
 CONGO HEALTH/EBOLA
 A fourth person has likely died from Ebola in remote
 northeastern Democratic Republic of Congo, the World Health
 Organization said on Sunday, as the overall number of cases
 rose to 37 from 29.                    
 
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