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African Markets - Factors to watch on May 26
May 26, 2017 / 4:50 AM / 7 months ago

African Markets - Factors to watch on May 26

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 EVENTS:
 Judgment of Niger opposition leader on incitement and
 sedition charges
 
 
 GLOBAL MARKETS
 Crude prices were on the defensive on Friday after an
 agreement by OPEC to extend existing supply curbs
 disappointed investors wagering on larger cuts, prompting a
 move away from riskier assets and depressing Asian
 stocks.                       
 
 WORLD OIL PRICES
 Oil extended falls on Friday after tumbling in the previous
 session when OPEC and allied producers extended output cuts
 but disappointed investors betting on longer or larger
 supply curbs.                 
 
 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 extended gains against the U.S. dollar
 to a two-month high on Thursday as the greenback stumbled
 after the Federal Reserve dialled down some expectations
 that it would hike interest rates soon.            
 
 
 NIGERIA OIL
 Nigeria's Senate passed a long-awaited oil governance bill
 on Thursday which the president of parliament's upper
 chamber said would improve transparency in the OPEC member's
 energy industry and stimulate growth in the
 sector.                
 
 
 KENYA MARKETS
 The Kenyan shilling        was steady against the dollar on
 Thursday with market players eyeing the central bank's
 monetary policy meeting on Monday, traders said.            
 
 
 KENYA AIRLINES
 Kenya Airways Ltd           reported a reduction in pretax
 losses and a return to profit at the operating level on
 Thursday, after carrying a record number of passengers in
 the past year, and said it expected a financial
 restructuring would be completed shortly.            
 
 
 UGANDA MARKETS
 The Ugandan shilling        was stable on Thursday,
 underpinned by a central bank removal of excess liquidity
 via a one-week repurchase agreement (repo) and two deposit
 auctions of different tenors.            
 
 
 CONGO VIOLENCE
 Democratic Republic of Congo opposes an international
 investigation into the deaths of two U.N. investigators, the
 foreign minister said on Thursday, amid mounting criticism
 of the Congolese authorities' own probe.            
 
 
 IVORY COAST COCOA
 Cocoa farmers in Ivory Coast are selling beans at below the
 government guaranteed minimum price as a global price
 decline squeezes revenues for buyers and exporters, farmers
 and buyers told Reuters.                            
 
 
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