September 15, 2017 / 5:56 AM / a month ago

African Markets - Factors to watch on Sept. 15

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 
 GLOBAL MARKETS
 U.S. stock futures and Asian shares dipped after North Korea
 fired another missile over Japan into the Pacific Ocean on
 Friday, demonstrating Pyongyang's defiance in the face of
 intensifying sanctions.            
            
 
 WORLD OIL PRICES
 Oil prices were lower on thin trading on Friday but on
 course for weekly gains, the third in a row in the case of
 Brent, as the clean-up after hurricanes in the United States
 gathered pace and the outlook for demand took on a firmer
 tone.                 
 
 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 eased on Thursday to three-week lows
 after data showed the current account deficit widened in the
 second quarter, while mining shares weighed on the
 bourse.            
 
 
 NIGERIA BONDS
 Nigeria has started the sale of a 100 billion naira ($326
 million) debut sovereign sukuk on the local market to fund
 road infrastructure, the Debt Management Office said on
 Thursday.            
 
 
 NIGERIA OIL 
 Nigeria plans to shut its three oil refineries for an
 overhaul aimed at increasing their productivity by the end
 of 2019, a spokesman for the state oil company said on
 Thursday.             
 
 
 NIGERIA COCOA
 Nigeria should see a bumper cocoa harvest in the coming
 season as late rains have helped boost pod production, the
 head of the cocoa association said on Thursday.             
 
 
 
 KENYA MARKETS
 Kenya's shilling        was steady on Thursday, helped by
 minimal demand for the dollar, traders said.            
 
 
 KENYA BANKS
 Kenya's national assembly will throw out any bill aimed at
 altering the interest rate cap imposed on commercial banks
 last year, the legislator who sponsored the rate-capping law
 said on Thursday.            
 
 
 KENYA HUAWEI TECHNOLOGIES
 China's Huawei Technologies          has changed its
 strategy in Kenya this month to showcase an affordable
 $100-200 range of smart phones, hoping the increased sales
 will boost its local market share, the company's country
 manager said on Thursday.            
 
 
 KENYA ELECTIONS
 Observers found some technical problems but no evidence of
 vote-rigging in Kenya's presidential election last month,
 the European Union said on Thursday, based on random checks
 of tallies from polling stations.                
 
 
 GHANA COCOA
 Ghana will keep the price it pays farmers for cocoa
 unchanged if not higher next season, its industry regulator
 said on Thursday, raising the likelihood of rampant
 smuggling from neighbouring Ivory Coast, the world's top
 producer.             
 
 
 UGANDA MARKETS
 The Uganda shilling        was steady on Thursday and was
 expected to firm, helped by the central bank mopping up
 excess local currency liquidity from the money
 markets.                
 
 
 UGANDA OIL
 Uganda signed an oil exploration deal with Australia's
 Armour Energy Limited AJQ.AX on Thursday, the first under a
 protracted competitive licensing round launched in
 2015.            
 
 
 
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