January 25, 2018 / 5:53 AM / 4 months ago

African Markets - Factors to watch on Jan. 25

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
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 GLOBAL MARKETS
 Asian stocks held near a record high on Thursday though
 concerns about the Trump administration's protectionist
 stance cast a shadow on financial markets, while the dollar
 struggled after U.S. Treasury Secretary Steven Mnuchin
 welcomed a weaker currency.                        
 
 WORLD OIL PRICES
 Brent oil prices hit $71 per barrel on Thursday for the
 first time since 2014 as the dollar continued to weaken and
 crude inventories in the United States fell for a 10th
 straight week amid ongoing supply cutbacks by OPEC and top
 producer Russia.                  
 
 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 firmed against the dollar on Wednesday,
 breaking through 12 per dollar ZAR= for the first time
 since mid-2015, supported by a weaker greenback and
 expectations the new leader of the ruling ANC would
 rejuvenate the economy.             
 
 NIGERIA CORRUPTION
 Nigeria will hold an investigation into alleged corruption
 involving the state oil firm's long-awaited Brass LNG
 project, including questions over the use of government
 funds.
 The Nigerian National Petroleum Corporation's (NNPC)
 liquefied natural gas project has been stuck in the
 planning stages for more than a decade, with some Western
 partners having pulled out because of tough operating
 conditions and an unfavourable investment
 environment.               
 
 NIGERIA MARKETS
 Nigeria's lower house of parliament passed a bill on
 Wednesday that will allow the stock exchange to become a
 publicly listed company that can issue shares to
 investors.            
 
 NIGERIA MARKETS
 Nigerian stocks fell 2.5 percent in early trades on
 Wednesday, extending losses for the third day to a new
 one-week low, as investors sold off shares from the
 relatively liquid banking sector.             
 
 KENYA MARKETS
 The Kenyan shilling        jumped to one-year high on
 Wednesday, mainly due weak demand for dollars accompanied
 by healthy inflows from investors abroad into the local
 debt market.             
 
 KENYA CENTRAL BANK
 Kenya's central bank governor forecast on Tuesday that the
 East African nation's economy would grow by 6.2 per cent in
 2018.             
 
 CONGO SECURTIY
 A military tribunal investigating a wave of massacres in
 eastern Congo blamed on Ugandan rebels has convicted 134
 people, a senior army prosecutor and a human rights group
 said on Wednesday.             
 
 LIBYA SECURITY
 The toll from a twin car bombing at a mosque in the eastern
 Libyan city of Benghazi rose to 35 on Wednesday, medics
 said, one of the highest from a single attack since Libya
 slid into turmoil after a 2011 uprising.             
 
 ZIMBABWE POLITICS
 Zimbabwe's new president, Emmerson Mnangagwa, said on
 Wednesday the country would go to elections by July and
 that he would respect the result if the opposition won
 power.             
 
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