October 4, 2017 / 4:57 AM / 2 months ago

African Markets - Factors to watch on Oct. 4

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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 GLOBAL MARKETS
 Japanese and Hong Kong share markets led Asian stocks higher
 on Wednesday, with the Chinese central bank's weekend move
 to free up more liquidity boosting sentiment as the world's
 second-largest economy grows at a steady
 pace.                       
 
 WORLD OIL PRICES
 Oil prices dipped on Tuesday as speculators took profits for
 a second day after big third-quarter gains and on concerns
 that higher prices might spur increased U.S. shale
 production.                   
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand fell for a third consecutive session on
 Tuesday, briefly touching its weakest in six months as a
 combination of a stronger dollar and concerns about the
 local economy weighed.            
 
 
 NIGERIA BUDGET
 Nigeria took in 2.305 trillion naira ($7.53 billion) of
 revenue in half a year, almost its budgeted amount for the
 period, its head of budget said on Tuesday.            
 
 
 NIGERIA DEBT
 Nigeria will issue at least a $2.5 billion Eurobond this
 year and is still in talks with the World Bank for
 concessionary loans, the head of the Debt Management Office
 (DMO) told Reuters on Tuesday in an interview.              
 
 
 
 NIGERIA SECURITY
 A secessionist leader seeking independence from Nigeria has
 been missing since an alleged military raid more than two
 weeks ago left his house in the city of Umuahia riddled with
 bullet holes, its windows smashed and doors hanging off
 hinges.            
 
 
 KENYA MARKETS
 The Kenyan shilling        was under pressure against the
 dollar on Tuesday due to demand from retail goods and oil
 importers, traders said.            
 
 
 KENYA ELECTION
 Kenya's top prosecutor ordered a criminal investigation on
 Tuesday of six employees of telecoms operator Safaricom
           for allegedly conspiring with election board
 officials to rig the nullified Aug. 8 presidential
 poll.            
 
 
 KENYA POLICE
 Administrators closed Kenya's oldest university on Tuesday,
 citing fears for students' safety in a planned protest over
 police beatings at a campus demonstration last
 week.            
 
 
 KENYA ECONOMY 
 The Nairobi car auctioneer hopefully scanned empty rows of
 rickety plastic chairs in a dusty lot for more bids but saw
 only too many vehicles and not enough buyers, an increasing
 problem as Kenya's economy slows and repossessions pick
 up.               
 
 
 UGANDA MARKETS
 The Ugandan shilling        was trading stable on Tuesday
 but players were expecting some weakening as the central
 bank's easing of monetary policy starts to weigh on market
 sentiment.            
 
 
 UGANDA POLITICS
 A law amending Uganda's constitution to allow ageing leader
 Yoweri Museveni to extend his rule was introduced in
 parliament on Tuesday, at a session where nearly all its
 opponents were either barred or stayed away in
 protest.            
 
 
 UGANDA POLITICS/SECURITY
 Grenades were thrown overnight at the homes of two Ugandan
 legislators opposed to scrapping the presidential age limit
 and thereby extending President Yoweri Museveni's more than
 31 years in power.            
 
 
 UGANDA RATES 
 Uganda's central bank lowered its key lending rate
              to 9.5 percent on Tuesday, saying the cut by 50
 basis points would accelerate the flow of credit to the
 private sector and so boost economic growth.            
 
 
 SOMALIA-SAUDI/AID
 Somalia has received $50 million in new aid from Saudi
 Arabia but the gesture does not change the central
 government's decision to remain neutral in Riyadh's dispute
 with fellow Gulf state Qatar, a senior Somali official said
 on Tuesday.             
 
 
 IVORY COAST-AFDB/AIRLINES
 The African Development Bank           is expected on
 Wednesday to decide the fate of a $296 million financing
 package for Ivory Coast national airline Air Cote d'Ivoire's
 purchase of five new Airbus AIR.PA A320s, a bank document
 seen by Reuters showed.            
 
 
 GUINEA ECONOMY
 Guinea's economy will grow 5.8 percent in 2018, down from an
 expected 6.7 percent in 2017, the budget minister said on
 Tuesday, as it struggles with low commodity prices and
 unrest that has interrupted bauxite mining.              
 
 
 GUINEA BISSAU ECONOMY
 Guinea Bissau's GDP is expected to grow five percent in
 2018, in line with the previous two years and buoyed by an
 increase in cashew nut prices, the International Monetary
 Fund said on Tuesday.            
 
 
 BOTSWANA ECONOMY
 Botswana revised its 2017 growth estimate to 4.7 percent
 from 4.2 percent seen in February as higher output from the
 services sectors and the end of a drought eased pressure on
 major industries, the economic ministry said on
 Tuesday.              
 
 
 BRITAIN-LIBYA/POLITICS
 British Foreign Secretary Boris Johnson quipped on Tuesday
 that Libya can become a new Dubai if it can clear the dead
 bodies away, the latest gaffe by Britain's top
 diplomat.             
 
 
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