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African Markets - Factors to watch on May 10
May 10, 2017 / 4:34 AM / 5 months ago

African Markets - Factors to watch on May 10

    NAIROBI, May 10 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
    - - - - -
 EVENTS:
 *Kenyan telecoms firm Safaricom           releases its full
 year earnings results.
 *Ghana and Rwanda release their consumer inflation data for
 April.
 
 GLOBAL MARKETS
 Asian stocks edged higher for a third consecutive day on
 Wednesday as investors focused on strong corporate earnings
 and the dollar gave back some of its recent gains after a
 rise in political tensions.                       
 
 WORLD OIL PRICES
 Oil futures rose in Asian trading on Wednesday after Reuters
 reported Saudi Arabia would cut supplies to the region as
 OPEC battles against rising U.S. output that is threatening
 to derail its attempts to end a sustained global glut in
 crude.                 
 
 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
 Stocks in South Africa hit an 11-month high on Tuesday,
 buoyed by Naspers           after the market heavyweight
 touched a record high, while the rand recovered against the
 dollar.            
 
 NIGERIA MARKETS
 Nigerian stocks hit a four-month high on Tuesday, lifted by
 gains in oil firm Oando            and improved investor
 sentiment towards the recession-hit economy.            
 
 NIGERIA GAS
 Nigeria's state energy company and its partners plan to more
 than triple the West African country's gas supply for
 domestic consumption within the next three years, it said on
 Tuesday.            
 
 NIGERIA REFINERY
 Italian oil company Eni          plans to build a crude
 refinery in Nigeria with capacity of 150,000 barrels a day
 through its Agip subsidiary, the country's oil minister said
 on Tuesday.                  
 
 KENYA MARKETS
 The Kenyan shilling        was broadly stable against the
 dollar on Tuesday mainly due to inflows from portfolio
 investors, amid subdued demand by importers, traders
 said.            
 
 KENYA FOOD PRICES
 Kenya's parliament is pondering proposals to curb climbing
 food prices, officials said on Tuesday, with the issue
 becoming a political liability for President Uhuru Kenyatta
 as he seeks a second term in August elections.            
 
 KENYA AID
 The U.S. government has suspended $21 million in direct aid
 to Kenya's Ministry of Health amid concern over corruption,
 the embassy said on Tuesday, giving emphasis to an issue
 that is a growing liability for the government before August
 elections.            
 
 GHANA COCOA
 Cocoa purchases declared to Ghana's industry regulator
 totalled 757,506 tonnes from the start of the 2016/17 season
 on Oct. 1 through April 20, up 13 percent from the same
 period last season, Cocobod data seen by Reuters showed on
 Tuesday.            
 
 SOUTH SUDAN UNREST
 The president of South Sudan has replaced army chief Paul
 Malong with a general who is a member of an ethnic minority,
 the defence minister said on Tuesday, after a slew of
 resignations by senior generals alleging tribal bias and war
 crimes.            
 
 GAMBIA CENTRAL BANK
 Gambia's central bank governor and three other senior bank
 officials who served under ex-strongman leader Yahya Jammeh
 were dismissed from their positions on Tuesday, the governor
 and government officials said.            
 
 DEMOCRATIC REPUBLIC OF CONGO POLITICS
 Democratic Republic of Congo President Joseph Kabila on
 Tuesday named a new transitional government, state
 television said, defying opponents who rejected the cabinet,
 saying it violated a previous agreement.            
 
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