April 11, 2018 / 5:04 AM / 5 months ago

African Markets - Factors to watch on April 11

    NAIROBI, April 11 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
                   - - - - -
 EVENTS:
 *GHANA - Statistics office to release fourth quarter 2017
 gross domestic product data and consumer inflation data for
 March.
 
 GLOBAL MARKETS
 Asian stocks rose modestly on Wednesday, paring earlier
 gains as optimism that trade ties between Washington and
 Beijing were on the mend gave way to questions about the
 next phase of the diplomatic tit-for-tat between the two
 countries.                       
 
 WORLD OIL PRICES
 Oil prices on Wednesday eased away from 2014 highs reached
 the previous session as escalating Middle East tensions were
 offset by increasing inventories and production in the
 United States.                
 
 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 stocks and the country's currency recovered
 Tuesday as investor jitters over a U.S.-China trade row
 eased, boosting risk appetite, even as local manufacturing
 data pointed to a slow recovery in the domestic
 economy.            
 
 NIGERIA TELECOMS
 South Africa's MTN          aims to list its Nigerian unit
 in an initial public offering this year and has struck an
 agreement with pan-African lender Ecobank          to offer
 mobile banking across Africa, its group chief executive said
 on Tuesday.            
 
 KENYA MARKETS
 The Kenyan shilling        was in a firm position against
 the dollar on Tuesday supported by tight liquidity in the
 money market and thin demand from oil importers, traders
 said.            
 
 KENYA ECONOMY
 Kenya's economy will grow 5.5 percent this year compared
 with an estimated 4.8 percent last year, thanks to better
 weather and less political risk after last year's
 presidential election, the World Bank said on
 Wednesday.            
 
 KENYA TELECOMS
 Telkom Kenya plans to merge operations with Indian-owned
 Bharti Airtel's           local unit as a first step to
 acquiring all of Airtel's assets, sources said on Tuesday,
 creating a stronger challenger to market leader
 Safaricom.            
 
 UGANDA OIL
 Uganda signed an agreement on Tuesday with a consortium,
 including a subsidiary of America's General Electric       ,
 to build and operate an oil refinery in western Uganda that
 will cost $3 billion-$4 billion, the president's office
 said.            
 
 DEMOCRATIC REPUBLIC OF CONGO ECONOMY
 Democratic Republic of Congo trimmed its 2018 economic
 growth forecast to 4.8 percent from a previous estimate of
 5.2 percent, the central bank said on Tuesday.            
 
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