January 24, 2018 / 5:26 AM / 7 months ago

African Markets - Factors to watch on Jan. 24

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
    - - - - -
 EVENTS: 
 
 * Ghana releases producer price inflation.     
 
 GLOBAL MARKETS
 Asian share markets took a time out on Wednesday as
 investors were left breathless at the breakneck pace of
 recent gains, while a fresh burst of speculative selling
 took the U.S. dollar to three-year lows.
                        
 
 WORLD OIL PRICES
 Oil prices fell on Wednesday, weighed down by data that
 showed an increase in U.S. crude oil and gasoline
 inventories.                  
 
 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 drifted lower on Tuesday as investors
 waited for more clues from the new leader of the ruling
 African National Congress on how he plans to rejuvenate the
 economy and when President Jacob Zuma might step down.
             
 
 NIGERIA CENTRAL BANK
 A standoff between Nigeria's presidency and parliament over
 confirmation of new members of the central bank's interest
 rate committee is threatening the bank's independence and
 damaging fragile investor confidence in Africa's biggest
 economy.                
 
 NIGERIA MARKETS
 Nigerian stocks fell 2.7 pct to a one-week low on Tuesday
 after the central bank called off an interest rate meeting
 scheduled for Jan. 22-23 because a backlog of appointments
 to the Monetary Policy Committee (MPC) meant it would not
 be quorate.             
 
 KENYA MARKETS
 The Kenyan shilling KES= strengthened to an 11-month high
 against the dollar on Tuesday due to inflows from offshore
 investors buying government debt and tightening money
 market liquidity, traders said.             
 
 KENYA CENTRAL BANK
 Kenya's central bank governor forecast on Tuesday that the
 East African nation's economy would grow by 6.2 per cent in
 2018.             
 
 EGYPT POLITICS
 The last challenger seen as a potential threat to the
 re-election of Egyptian President Abdel Fattah al-Sisi was
 detained on Tuesday, and halted his campaign after the army
 accused him of breaking the law by running for office
 without permission.             
 
 ZIMBABWE POLITICS
 Zimbabwe has given cabinet ministers and senior government
 officials until the end of February to declare their assets
 as new President Emmerson Mnangagwa seeks to foster
 transparency and fight corruption.             
 
 ANGOLA OIL
 Angolan state oil firm Sonangol has issued its first public
 tender to buy refined products to widen its import base,
 market sources who have seen the tender said, in a sign the
 country is committed to reforming its oil industry. 
               
 
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