February 17, 2017 / 5:45 AM / 8 months ago

African Markets - Factors to watch on Feb 17

    NAIROBI, Feb 17 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
               - - - - -
 GLOBAL MARKETS
 Asian stock markets took a breather on Friday from their
 recent surge as investors booked profits, while the dollar
 inched up after Thursday's slide and optimism over possible
 renewed supply cuts by OPEC lifted oil
 prices.                       
 
 WORLD OIL PRICES
 Oil prices edged up on Friday, lifted by a report that
 producer club OPEC could extend an output cut aimed at
 reining in a global fuel supply overhang.                 
 
 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 weakened on Thursday, pausing a recent
 rally that has lifted the unit to 17-months highs as the
 greenback pared losses following a batch of upbeat U.S.
 economic data.            
 
 SOUTH AFRICA FINANCE
 South Africa will come down hard on financial market abuse,
 President Jacob Zuma said on Thursday, following accusations
 that more than a dozen local and foreign banks had rigged
 rand currency dealing.            
 
 AFRICA CURRENCIES
 Ghana's cedi is expected to remain under pressure next week
 amid market uncertainty over a weaker-than-expected 2016
 while the Zambian kwacha is likely to hold its gains
 supported by dollar inflows from investors buying
 bonds.            
 
 NIGERIA ECONOMY
 Nigeria's top state advisory body on Thursday demanded an
 urgent review of the central bank's foreign exchange
 policy.             
 
 NIGERIA INDUSTRY
 Nigeria's central bank has disbursed $2.83 billion to
 critical sectors of the economy in December and January, it
 said in a statement on Thursday, in an attempt to kickstart
 a struggling economy and alleviate a drought of foreign
 currency.             
 
 NIGERIA AVIATION
 Nigeria's "bad bank" said on Thursday it had taken over the
 day-to-day running of Arik Air in an attempt to rescue the
 country's largest airline, which it placed in receivership
 last week after it was unable to pay workers or
 creditors.            
 
 GHANA ECONOMY
 Ghana is arranging for additional reserves to intervene
 sooner than planned in order to prop the local cedi currency
 GHS= which has weakened to new lows this week, two central
 bank sources said on Thursday.            
 
 ANGOLA POLITICS
 Angolan Vice President Manuel Vicente had been charged in
 Portugal with corruption and money laundering, the
 Prosecutor General's office in Lisbon said on
 Thursday.            
 
 CENTRAL AFRICAN REPUBLIC CONFLICT
 Rebels in Central African Republic killed at least 32
 civilians after clashes with a rival armed group, Human
 Rights Watch (HRW) said on Thursday, a sign of the fighters'
 growing boldness amid limited state authority.            
 
 MOZAMBIQUE STORM
 Tropical storm Dineo has killed seven people in Mozambique
 since it hit the eastern coast on Wednesday, the
 government's disaster centre said on Thursday.            
 
 WEST AFRICA ECONOMY
 Countries in the West African Economic and Monetary Union
 (WAEMU) are on track to see medium-term economic growth of
 about 6 percent after recording 6.5 percent growth last
 year, the International Monetary Fund (IMF) said on
 Thursday.            
 
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