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African Markets - Factors to watch on May 16
May 16, 2017 / 4:13 AM / 6 months ago

African Markets - Factors to watch on May 16

    NAIROBI, May 16 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
    - - - - -
 EVENTS:
 *Nigeria due to release its April consumer price inflation
 data
 *Kenyan authorities expected to present a supplementary
 budget before parliament. 
 
 GLOBAL MARKETS
 Asian stocks briefly climbed to a fresh-two year high on
 Tuesday on the back of an overnight rise in Wall Street,
 while oil extended gains after major producers Saudi Arabia
 and Russia said supply cuts needed to continue into 2018.
                                   
 
 WORLD OIL PRICES
 Oil prices rose on Tuesday, extending gains after a joint
 announcement by top producers Saudi Arabia and Russia to
 push for an extension of supply cuts until the end of March
 2018.                         
 
 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 on Monday along with other
 emerging currencies as the dollar retreated on weak
 manufacturing data and geopolitical fears following North
 Korea's missile test, while stocks were flat.  
               
 
 KENYA TELECOMS
 UK-based telecoms group Vodafone         moved to
 consolidate two of its African interests on Monday with the
 transfer of a 35 percent stake in Kenya's Safaricom
           to majority-owned South African subsidiary Vodacom
         . 
                 
 
 KENYA MARKETS
 The Kenyan shilling        was stable against the dollar on
 Monday and was seen playing in a narrow range amid increased
 demand from the manufacturing and energy sectors, traders
 said.                 
 
 IVORY COAST MUTINY
 Renegade soldiers in Ivory Coast on Monday rejected a
 proposed deal to end their mutiny over unpaid bonuses just
 minutes after the defence minister announced on state-owned
 television that an agreement had been reached.             
 
 IVORY COAST BANKS 
 Ivory Coast's banking association, the APBEF, ordered all
 banks in the West African nation to remain closed on Monday
 amid worsening unrest linked to a four-day nationwide army
 mutiny, banking and business officials said.               
 
 RWANDA GROWTH
 Rwanda expects its economy to grow 6.8 percent in 2018, up
 from a forecast 6.2 percent this year, thanks to stronger
 agriculture production and the construction of a new
 airport, Finance Minister Claver Gatete said on Monday.
                   
 
 BOTSWANA MINING
 Botswana's government has offered its state-owned BCL Mine
 Ltd to the Emirates Investment House (EIH) for a token price
 of $1 in a deal that will result in the Emirati firm taking
 over the mine's debts, minerals minister Sadique Kebonang
 said.               
 
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