January 26, 2018 / 6:03 AM / 9 months ago

African Markets - Factors to watch on Jan. 26

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 GLOBAL MARKETS
 Asian stocks came off record highs on Friday but were still
 poised to end the week with strong gains, while the
 battered dollar won back some ground after President Donald
 Trump said he wanted a strong U.S.
 currency.                       
 
 WORLD OIL PRICES
 Oil prices fell on Friday as market fundamentals are
 expected to weaken with the upcoming end of the peak demand
 period during the Northern Hemisphere winter.
                  
 
 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 African assets were little changed on Thursday, with
 the rand strengthening slightly as the leader of the ruling
 African National Congress talked up the prospects for
 foreign investment at the World Economic Forum in
 Davos.            
 
 NIGERIA CURRENCY
 Nigeria's vice president said on Thursday that a weaker
 U.S. dollar did not necessarily hurt his oil-producing
 nation. The comments by Yemi Osinbajo were made after U.S.
 Treasury Secretary Steven Mnuchin welcomed a weaker dollar,
 saying it benefited U.S. trade balances in the short term. 
             
 
 NIGERIA EUROBOND
 Nigeria will consider raising $2.5 billion through
 Eurobonds in the first quarter to refinance a portion of
 its domestic treasury bill portfolio at lower cost, the
 head of the Debt Management Office told Reuters on
 Thursday.                                             
 
 NIGERIA PLANES
 Nigeria will protest to the United States over conditions
 imposed on its planned $494 million purchase of 12 A-29
 Super Tucano fighter planes, Defence Minister Mansur Dan
 Ali said on Thursday.             
 
 KENYA MARKETS
 The Kenyan shilling        jumped to one-year high on
 Wednesday, mainly due weak demand for dollars accompanied
 by healthy inflows from investors abroad into the local
 debt market.             
 
 SOUTH AFRICA CORRUPTION
 South Africa's civil servants union has teamed up with the
 government pension fund to pursue Steinhoff         ,
           for around $1.4 billion of pensioners' money lost
 as a result of an accounting scandal at the troubled
 retailer.              
 
 SOUTH AFRICA POLITICS   
 The new leader of South Africa's ruling African National
 Congress (ANC) said on Thursday the country had entered a
 new era under his leadership, in a fresh sign that Jacob
 Zuma's days as president are numbered.             
 
 MALI SECURITY
 A landmine explosion blew up a civilian passenger vehicle
 in central Mali on Thursday, killing 26 people and wounding
 several others, state TV reported.                     
 
 
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