Reuters logo
3 years ago
African Markets - Factors to watch on May 20
May 20, 2014 / 5:37 AM / 3 years ago

African Markets - Factors to watch on May 20

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
    - - - - -
 EVENTS:
 MALAWI - Malawi holds presidential and parliamentary
 elections, with incumbent Joyce Banda facing a serious
 challenge from social conservative Lazarus Chakwera.
 
 RWANDA - The African Development Bank (AfDB) Group holds its
 2014 Annual Meetings in Kigali, Rwanda May 19-23.
 
 GLOBAL MARKETS
 Asian shares struggled to muster gains on Tuesday, while the
 dollar inched higher but remained not far from its lowest
 level against the yen in more than three months.           
 
 WORLD OIL PRICES
 Brent crude held steady above $109 a barrel on Tuesday, as
 unrest and low output in OPEC-producer Libya offset
 expectations of a build in weekly U.S. crude stocks to a
 record high.          
 
 AFRICA GROWTH
 Growth in African economies is set to accelerate to 4.8
 percent on average this year while financial flows into the
 continent will top $200 billion, or quadruple levels seen in
 2000, the African Development Bank said on Monday.
                    
 
 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 steadied against the dollar in
 afternoon trade on Monday, starting the week with little
 conviction while investors wait for direction from global
 markets and key domestic events.                
     South African stocks edged up on Monday, recovering from
 losses in the previous session as shares of unsecured lender
 African Bank Investments climbed more than 5 percent from a
 decade low.     
 
 NIGERIA MARKETS
 Nigeria's naira weakened marginally against the dollar on
 the interbank market on Monday, as investors repatriated
 some dividends, and dealers said markets were waiting for
 Tuesday's central bank rate decision to take positions.
                
 
 NIGERIA BANK RIGHTS ISSUE  
 Nigeria's Unity Bank UNITYBN.LG said on Monday it will raise
 19.22 billion naira ($118.39 million) in a rights issue to
 its existing shareholders to boost its operations.
                
 
 ANGOLA INFLATION
 Angola's annual consumer inflation slowed to 7.22 percent
 year-on-year in April from 7.32 percent in March, the
 National Statistics Institute (INE) said on Monday.
                 
 
 GHANA MARKETS    
 Gains by banking stocks including Societe Generale Ghana
 SOGEGH.GH and the local unit of Pan-African Ecobank
 Transnational Incorporated (ETI)          lift the GSE
 Composite index by 5.14 points to close Friday's trading at
 2,246.05 points.                
 
 KENYA MARKETS
 The Kenyan shilling        slipped to an eight-month low on
 Monday as manufacturers bought dollars and investors worried
 about security in east Africa's biggest economy.
                
 
 KENYA SECURITY    
 Suspected Somali al Shabaab militants killed at least 12
 people in an ambush in northern Kenya on Monday, a day after
 Kenyan jets pounded the Islamists' bases over the border,
 disaster and police officials said.                    
 
 IVORY COAST POWER FIRM
 Ivory Coast power utility Cie           plans to invest 100
 billion CFA francs ($209 million) to double its customer
 base by 2017, Dominique Kakou, managing director of the firm
 part-owned by French industrial group Bouygues          ,
 said on Monday.                     
 
 UGANDA MARKETS
 The Ugandan shilling        was stable on Monday in low
 activity with the outlook bearish on an expected increase in
 corporate demand for dollars.                
 
 UGANDA POWER   
 British-based private equity firm Actis said on Monday it
 had sold part of its Ugandan subsidiary's stake in local
 power distributor Umeme Ltd            for $85.5 million to
 institutional investors.                
 
 CONGO OIL  
 Congo Republic is set to reverse a decline in production and
 climb to become sub-Saharan Africa's third-largest oil
 producer within three years as investors plough billions of
 dollars into new projects.                
 
 MALAWI ELECTIONS    
 Malawians vote on Tuesday in an election in which 11
 candidates are vying to unseat President Joyce Banda,
 southern Africa's first female head of state, who came to
 power two years ago.                
 
 MADAGASCAR/WORLD BANK    
 The World Bank will give Madagascar $400 million in
 financial support over three years, after recently restoring
 ties following a peaceful election, while the European Union
 said it was resuming full relations with the Indian Ocean
 island.                    
 
     For the latest precious metals report click on        
     For the latest base metals report click on         
     For the latest crude oil report click on

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below