October 9, 2017 / 5:16 AM / 10 days ago

African Markets - Factors to watch on Oct. 9

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Monday.
    - - - - -
 EVENTS:
 * Tanzania releases inflation rate.
 * Critic of Rwandan president to face charges in court.
 
 GLOBAL MARKETS
 Chinese shares climbed on Monday after a week-long break as
 a disappointing survey on the country's service sector did
 little to dent optimism on global growth, while political
 uncertainty caused turbulence for the Turkish and British
 currencies.
 Liquidity was lacking with Japan and South Korea on holiday
 and a partial holiday in the United States where stocks will
 be open but bonds will be closed.                        
 
 WORLD OIL PRICES
 Oil prices edged up on Monday, after a 2 percent slide on
 Friday, on expectations that Saudi Arabia would continue to
 restrain its output in order to support prices, and as the
 amount of rigs drilling for new oil in the United States
 dipped.
 Oil ports, producers and refiners in Louisiana, Mississippi
 and Alabama, which shut facilities ahead of Hurricane Nate,
 were planning to reopen on Monday as the storm moved inland,
 away from most energy infrastructure on the U.S. Gulf Coast.
                  
 
 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 share indexes posted record high closes for
 the second straight day on Friday, helped by gains in market
 heavyweight Lonmin after lenders waived some of its debt
 covenants.             
 
 SOUTH AFRICA PLATINUM
 A new power struggle is unfolding in South Africa's old
 homelands between global mining giants, traditional leaders
 and an impoverished rural populace.
 Parts of an industry long used to labour unrest are now
 contending with community protests that have cut production
 of the country's largest mineral export earner, platinum,
 and may shut some operations down altogether.               
 
 
 NIGERIA MARKETS
 Nigerian stocks rose 1.44 percent in late trades on Friday
 to reach a five-week high as foreign investors and local
 pension funds bought shares ahead of the third-quarter
 results season due to start this month, traders said.
             
 
 NIGERIA CEMENT
 PPC          said on Friday that Nigeria's Dangote Cement
              had withdrawn its interest in a tie-up with the
 South African firm, sending its shares down more than 13
 percent.             
 
 KENYA MARKETS
 The Kenyan shilling KES= strengthened against the dollar on
 Friday due to hard currency inflows from non governmental
 organisations subduing demand from oil importers with
 traders expecting further strengthening during the session.
             
 
 ETHIOPIA POLITICS    
 The speaker of Ethiopia's lower house of parliament
 submitted his resignation on Sunday, one of the
 highest-ranking officials to do so since the ruling EPRDF
 coalition came to power in 1991.
 Abadula Gemeda did not disclose reasons behind his decision,
 but said he would disclose the factors once his move was
 approved by parliament.               
 
 SUDAN CURRENCY
 Sudan's currency strengthened to 18.5 pounds to the dollar
 from 20.2 on the black market on Sunday, the first day of
 business since the United States lifted trade sanctions,
 raising a glimmer of hope for recovery in the war-torn
 country.             
 
 GHANA GAS BLAST
 At least seven people were killed and dozens injured, mostly
 suffering burns, after a huge explosion at a fuel
 distribution site in Ghana's capital, local authorities said
 on Sunday.                     
 
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