May 9, 2018 / 5:00 AM / 5 months ago

African Markets - Factors to watch on May 9

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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 GLOBAL MARKETS
 Crude oil prices jumped back to near 3 1/2-year highs on
 Wednesday after President Donald Trump pulled the United
 States out of an international nuclear deal with Iran,
 sparking worries about global oil
 supplies.                       
 
 WORLD OIL PRICES
 Oil prices rose more than 2 percent on Wednesday, with Brent
 hitting a 3-1/2-year high, after U.S. President Donald Trump
 abandoned a nuclear deal with Iran, likely curbing the OPEC
 member's crude exports in an already tight
 market.                 
 
 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 fell for a second straight session on
 Tuesday, tracking other emerging market currencies as the
 dollar index surged to a new 2018 high ahead of U.S.
 President Donald Trump's verdict on the Iran nuclear
 deal.            
 
 
 
 AFRICA IMF
 Sub-Saharan African nations are at growing risk of debt
 distress because of heavy borrowing and gaping deficits,
 despite an overall uptick in economic growth, the
 International Monetary Fund said on Tuesday.                
 
 
 
 
 AFRICA AL QAEDA
 An al Qaeda affiliate threatened attacks on Western
 companies' operations across North and West Africa on
 Tuesday, calling them "legitimate targets" and urging
 Muslims to boycott them.            
 
 
 
 NIGERIA MARKETS
 Nigeria's naira          eased to 362 to the dollar for
 investors on Tuesday as funds repatriate dividends abroad
 following the end of the earnings season and as forward
 currency contracts mature amid tight dollar liquidity,
 traders said.            
 
 
 
 NIGERIA OIL
 A Nigerian civil rights group launched a legal case on
 Tuesday aimed at forcing the government to revoke a disputed
 2011 oilfield deal at the centre of a string of
 international corruption investigations.            
 
 
 
 OIL WEST AFRICA
 West Africa's crude oil loadings for Asia are expected to
 bounce back in May from a five-month low, a Reuters survey
 of shipping fixtures and traders showed on Tuesday, but
 traders warned that shaky demand in China could signal a
 tough road for some of the cargoes.                
 
 
 
 KENYA MARKETS
 The Kenyan shilling        was unchanged against the dollar
 on Tuesday and was forecast to gain ground, helped by
 inflows from diaspora remittances, traders said.            
 
 
 
 RWANDA ROYALS/WEDDING
 As U.S. actress Meghan Markle, a former ambassador for
 charity World Vision, prepares to marry Prince Harry,
 children she met in Rwanda sent goodwill messages and urged
 her to keep helping the poor once she joins Britain's royal
 family.            
 
 
 
 ZAMBIA ECONOMY
 Zambia has assessed its debt trajectory as part of a bid to
 court International Monetary Fund support after the Fund
 rejected the country's debt management plans in
 February.                
 
 
 
 ZAMBIA SOLAR ENERGY
 Zambia will complete its first large-scale 50 megawatt (MW)
 solar power generation plant in September this year as the
 nation battles a power deficit which threatens industrial
 output, a state-owned agency said on Tuesday.               
 
 
 
 ZIMBABWE MUGABE
 Former President Robert Mugabe will not appear before
 Zimbabwe's parliament as scheduled on Wednesday to answer
 questions on diamond mining operations, a legislator
 said.                
 
 
 
 ZIMBABWE WORKERS
 Zimbabwe will raise public-sector pay by 10 percent starting
 in July, a move likely to widen the budget deficit as
 President Emmerson Mnangagwa tries to curb strikes by public
 workers before elections expected later this
 year.                
 
 
 
 SOUTH SUDAN USA
 The United States will review assistance programs to South
 Sudan, the White House said on Tuesday, citing frustration
 with the lack of progress in reaching a peace agreement to
 end the violence in the country.                
 
 
 
 CONGO EBOLA
 At least 17 people have died in an area of northwestern
 Democratic Republic of Congo where health officials have now
 confirmed an outbreak of Ebola, the health ministry said on
 Tuesday.                
 
 
 
 AFRICA EUROPE/MIGRANTS
 The U.N. refugee agency resumed evacuations of migrants from
 Libya on Tuesday, flying 132 mostly Eritrean refugees and
 asylum seekers to Niger for resettlement in third
 countries.                
 
 
 
 TANZANIA INFLATION
 Tanzania's inflation rate              eased in April from
 March as prices of food and non-alcoholic drinks rose more
 slowly, the country's statistics office said on
 Tuesday.                           
 
 
 
 MAURITIUS INFLATION
 Mauritius' year-on-year inflation rate              declined
 to 3.7 percent in April from 6.7 percent in the previous
 month, the statistics office said on Tuesday.               
 
 
 
 SEYCHELLES INFLATION
 Seychelles year-on-year inflation              slowed to
 4.18 percent in April from 4.66 percent the previous month,
 the statistics office said on Tuesday.                
 
 
 
 DRC-TANZANIA/ANGLOGOLD
 AngloGold Ashanti          said on Tuesday it is owed more
 than$150 million in VAT and fuel refunds by the governments
 of Tanzania and Democratic Republic of Congo (DRC), which
 are pursuing mining firms over revenue and
 taxes.            
 
 
 
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