January 16, 2018 / 4:56 AM / 4 months ago

African Markets - Factors to watch on Jan. 16

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
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 GLOBAL MARKETS
 Asian shares pushed higher on Tuesday, erasing early modest
 losses while the euro stood near a 3-year peak on rising
 expectations that the European Central Bank could pare its
 monetary stimulus.                       
 
 WORLD OIL PRICES
 Brent crude prices were on Tuesday settling in around $70
 per barrel, levels last seen before the start of an oil
 market slump in late 2014.                 
 
 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 strengthened slightly on Monday, helped
 by a weaker dollar and by reports that the ruling African
 National Congress party was preparing to discuss whether
 President Jacob Zuma should step down as head of
 state.            
 
 
 NIGERIA USA/TRUMP
 Nigeria's government on Monday summoned a representative of
 the U.S. ambassador to explain reported remarks by President
 Donald Trump that immigrants from Africa and Haiti come from
 "shithole countries", the foreign ministry said.            
 
 
 NIGERIA SECURITY
 Nigeria will punish all those behind an outbreak of deadly
 clashes between cattle herders and farmers, President
 Muhammadu Buhari said on Monday pushing back at accusations
 that he failed to take action against members of his own
 ethnic group.            
 
 
 NIGERIA CURRENCY
 Nigeria's central bank said on Monday that it had injected
 $210 million into the interbank foreign exchange market as
 part of its attempt to boost liquidity and alleviate dollar
 shortages.             
 
 
 KENYA MARKETS
 The Kenyan shilling        was stable against the dollar on
 Monday, with increased buying activity from retail and oil
 importers seen posing a depreciation risk.            
 
 
 AFRICA SAMSUNG
 South Korea's Samsung Electronics             plans to
 double the annual revenue contribution from its African
 markets to 20 percent of the firm's global total in the next
 five years, the head of its business on the continent said
 on Monday.             
 
 
 GHANA CURRENCY
 Ghana's cedi        will be more stable in 2018 than last
 year, helped by lower inflation outlook and higher oil
 production, the central bank said on Monday.            
 
 
 GHANA CRIME
 Police in Ghana have seized suspected explosives of various
 kinds in Accra, the capital, and are holding three men
 connected to the substances, the regional police command
 said in a statement on Monday.                
 
 
 IVORY COAST COCOA
 Dusty Saharan winds hampered cocoa crop development in Ivory
 Coast last week, though some light rain provided respite for
 the main crop, farmers said on Monday.              
 
 
 UGANDA MARKETS      
 The Ugandan shilling        remained unchanged on Monday,
 helped by flat dollar demand as mid-month tax payments
 forced most firms to stay out of the market.            
 
 
 UGANDA POLITICS
 Uganda's leading lawyers sought on Monday to overturn a law
 that critics say would allow incumbent leader Yoweri
 Museveni to effectively become president for
 life.                                         
 
 
 TANZANIA ACACIA MINING
 Acacia Mining          said on Monday said fourth-quarter
 production fell by a third on the previous year due to a ban
 on exports of gold and copper concentrates in
 Tanzania.            
 
 
 ETHIOPIA POLITICS
 Ethiopian authorities have dropped charges against a senior
 opposition leader and hundreds of others who had been jailed
 for involvement in unrest that gripped the country in 2015
 and 2016, the country's attorney general said on
 Monday.                
 
 
 ZIMBABWE INFLATION
 Zimbabwe's consumer price inflation quickened to 3.46
 percent year-on-year in December from 2.97 percent in
 November, data from the national statistics agency showed on
 Monday.                
 
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