January 19, 2018 / 5:09 AM / 4 months ago

African Markets - Factors to watch on Jan. 19

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
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 GLOBAL MARKETS
 Asia stocks edged up to record highs on Friday, although
 losses on Wall Street slowed the advance, while worries over
 a possible U.S. government shutdown weighed on the
 dollar.                       
 
 WORLD OIL PRICES
 Oil prices dropped more than 1 percent on Friday as a
 bounce-back in U.S. production outweighed ongoing declines
 in crude inventories.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand scaled a 2-1/2 year high against a
 broadly fragile dollar on Thursday, climbing more than 1
 percent after the central bank held interest rates steady
 and the new head of the ruling ANC ramped up his tough talk
 on graft.            
 
 
 NIGERIA OIL
 Nigeria's excess crude account stood at $2.317 billion as of
 Jan. 15, a state governor said on Thursday.            
 
 
 NIGERIA OIL/LAW
 Nigeria has moved closer to turning an oil industry bill
 into law after a 17 year struggle to complete the
 legislation which aims to increase transparency and
 stimulate growth in the country's oil industry.            
 
 
 NIGERIA JP MORGAN
 Nigeria has filed a claim against JP Morgan Chase for more
 than $875 million, accusing it of negligence in transferring
 funds from a disputed 2011 oilfield deal to a company
 controlled by the country's former oil minister.            
 
 
 NIGER SECURITY
 Suspected Boko Haram fighters have killed at least four
 soldiers and a civilian in an attack on a military post in
 Niger's southeastern Diffa region, local officials and two
 security sources said on Thursday.                
 
 
 KENYA MARKETS
 Kenya's shilling        was steady on Thursday and traders
 said they were focusing on the level of dollar inflows into
 the local debt and stock markets to gauge its future
 direction.            
 
 
 GHANA COCOA
 Ghana is considering cutting the price it pays its cocoa
 farmers, pegging it at 70 percent of world market prices to
 help protect the country's finances, government sources said
 on Thursday.            
 
 
 RWANDA VOLKSWAGEN
 Germany's Volkswagen AG             said on Thursday it
 would start assembling three vehicle models at a new plant
 in Rwanda in May for local sale and use in its own new
 ride-sharing service.                
 
 
 AFRICA CURRENCIES 
 The Tanzanian and Zambian currencies are likely to come
 under pressure next week, but other African currencies
 should remain stable.            
 
 
 UGANDA MARKETS
 The Ugandan shilling        was unchanged on Thursday and
 was forecast to strengthen due to waning demand for dollars
 from commercial banks and merchandise importers.            
 
 
 
 SOMALIA VIOLENCE
 A Somali general was shot in the head and killed in the
 capital Mogadishu on Thursday and a colonel who was his
 deputy has been arrested for the murder, senior army sources
 said.            
 
 
 SOUTH SUDAN WAR 
 Britain said it was closely monitoring a ceasefire agreed
 last month between South Sudan's warring parties and would
 work with regional partners to identify individuals guilty
 of violations and take action.            
 
 
 ZIMBABWE BENNET
 Exiled Zimbabwe opposition leader Roy Bennett and four other
 people were killed in a helicopter crash in a remote
 northern part of the U.S. state of New Mexico, officials and
 his political party said on Thursday.            
 
 
 ZIMBABWE MNANGAGWA
 Zimbabwe will hold elections in four to five months, a
 newspaper on Thursday quoted President Emmerson Mnangagwa as
 saying, the first time since independence the southern
 African state will conduct a vote that does not involve
 Robert Mugabe.             
 
 
 ZIMBABWE FARMERS
 Zimbabwe is considering establishing a special tribunal to
 determine the value of compensation and how to pay former
 white commercial farmers who lost their land since 2000,
 according to a government document.              
 
 
 AFRICA TRUMP
 African U.N. envoys suggested on Thursday that U.S.
 President Donald Trump meet with African leaders in Ethiopia
 this month after he was reported to have described some
 immigrants from Africa and Haiti as coming from "shithole"
 countries.               
 
 
 SUDAN ARRESTS
 Sudanese authorities have detained a Reuters stringer and an
 AFP reporter who were covering protests in the capital
 Khartoum, the external information council, which deals with
 foreign media organisations, said.            
 
 
 ANGOLA AIRLINES
 Angola is withholding repatriation of over $500 million in
 revenues generated in the country by international airlines,
 airline industry body IATA said in a statement on
 Thursday.                
 
 
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