February 8, 2018 / 6:40 AM / 13 days ago

African Markets - Factors to watch on Jan. 8

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 EVENTS:
 *Tanzania Bureau of Statistics releases inflation data for
 January 
 
 
 GLOBAL MARKETS
 Asian shares flirted with six-week lows on Thursday as U.S.
 bond yields crept up towards four-year highs as investors
 fretted that low borrowing costs enjoyed by companies for
 many years may be endangered by the threat of rising
 inflation.                       
 
 WORLD OIL PRICES
 Oil prices eased on Thursday, taking Brent crude to a 2018
 low, as soaring U.S. output undermined OPEC efforts to
 tighten markets, although a North Sea pipeline outage and
 record Chinese imports offered support.                 
 
 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 weakened on Wednesday in volatile trade
 as markets awaited the outcome of talks between the ruling
 African National Congress (ANC) leader Cyril Ramaphosa and
 President Jacob Zuma over a transition of power.            
 
 
 NIGERIAA MTN GROUP
 MTN Nigeria          discussed plans to list on the Lagos
 stock exchange at a board meeting on Wednesday and aims to
 launch the IPO this year, a company source told
 Reuters.                
 
 
 NIGERIA MARKETS
 Nigerian bond yields rose across maturities on Wednesday
 while stocks fell as global risk-off sentiment spread to
 local assets, traders said.                
 
 
 NIGERIA TREASURY
 Nigeria plans to redeem 762.5 billion naira ($2.5 billion)
 worth of treasury bills from the proceeds of a planned $2.5
 billion Eurobond, to lower borrowing costs for the
 government, Finance Minister Kemi Adeosun said on
 Wednesday.            
 
 
 NIGERIA GASOLINE     
 Nigeria's push to keep its citizens stocked with fuel is
 drawing close to a million tonnes a month of gasoline from
 Europe - including now on a rare Suezmax vessel booked by
 Vitol.              
 
 
 NIGERIA INSECURITY
 The Nigerian army on Wednesday said it will deploy troops to
 improve security in central states where a spate of communal
 violence has prompted criticism of President Muhammadu
 Buhari.              
 
 
 KENYA MARKETS
 The Kenyan shilling        strengthened to hit a 20-month
 high against the dollar on Wednesday supported by lacklustre
 importer demand amid increased dollar supply from investors
 buying government debt, traders said.            
 
 
 KENYA POLITICS
 A top Kenyan newspaper published a fake death notice of a
 prominent opposition financier on Wednesday, a bizarre error
 that rights groups interpreted as another sign of an
 anti-democratic slide.            
 
 
 KENYA OIL/TULLOW
 Africa-focused oil and gas producer Tullow Oil         swung
 back into profit in 2017 after three years in the red, and
 outlined plans to begin production in Kenya by as early as
 2021.            
 
 
 UGANDA MARKETS
 The Ugandan shilling        was stable on Wednesday and was
 forecast to ease due to dollar demand from energy and
 manufacturing companies.            
 
 
 RWANDA BUDGET
 Rwanda's government said on Wednesday it plans to sell
 treasury bonds to raise extra cash for its fiscal 2017/18
 budget, part of which it will spend on expanding the
 national airline RwandAir.                
 
 
 ETHIOPIA INFLATION
 Ethiopia's year-on-year inflation rate edged down to 13.4
 percent in January, the statistics agency said on its
 website.                
 
 
 MAURITIUS INFLATION
 Mauritius' year-on-year inflation rate              jumped
 to 6.2 percent in January from 4.2 percent in the previous
 month, the statistics office said on Thursday.              
 
 
 
 IVORY COAST EUROBOND
 Ivory Coast expects to issue a Eurobond - its fourth in five
 years - after first tapping the regional debt market to
 raise funds to finance its 2018 budget, Finance Minister
 Adama Kone told Reuters on Wednesday.            
 
 
 ZIMBABWE CENTRAL BANK
 Zimbabwe is negotiating a $1.5 billion guarantee with
 Afreximbank to ensure foreign investors' funds are
 protected, central bank Governor John Mangudya said on
 Wednesday.            
 
 
 MOZAMBIQUE POLITICS
 Mozambique's president will propose constitutional changes
 that redistribute power to the country's provinces, a move
 aimed at securing a long-term peace agreement with the main
 opposition party.            
 
 
 CONGO ECONOMY
 Democratic Republic of Congo's Central Bank on Wednesday
 raised its forecast for 2018 economic growth to 5.2 percent
 from 5 percent last month, as the economy benefits from
 higher prices for key exports including copper.             
 
 
 
 CONGO MINING
 The Minister of Mines for Democratic Republic of Congo,
 Martin Kabwelulu, declined on Wednesday to say whether
 President Joseph Kabila had signed a new mining code into
 law that the industry opposes because it will raise
 royalties and taxes.                
 
 
 GUINEA POLITICS
 At least five small children have died in a fire in Guinea
 linked to post-election riots in a town in the centre of the
 country, government officials said on Wednesday.            
 
 
 
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