December 7, 2017 / 4:52 AM / in 5 days

African Markets - Factors to watch on Dec 7

    NAIROBI, Dec 7 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
    - - - - -
 EVENTS:
 *LIBERIA - The Supreme Court to rule on the fate of delayed
 presidential elections.
 *Seychelles to release its consumer inflation data for
 November.
 
 GLOBAL MARKETS
 Asian shares hovered near two-month lows on Thursday as softer
 oil and copper prices and uncertainty over U.S. policy kept
 many investors on the sidelines, even as some high-tech
 bellwethers bounced back after a searing sell-off.            
            
 
 WORLD OIL PRICES
 Oil prices inched higher on Thursday after a data report
 showed a decrease in U.S. crude inventories, but rising
 gasoline stocks and crude production weighed on the
 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 African stocks fell to their lowest in more than a month
 on Wednesday after Steinhoff shares plummeted when the company
 announced an investigation into accounting irregularities and
 its chief executive officer resigned. The rand
 retreated.            
 
 NIGERIA MARKETS
 Nigerian stocks gained for the sixth straight day on Wednesday
 to hit a new three-year high as investors bought consumer
 goods and banking shares.            
 
 NIGERIA PETROLEUM
 China's Sinopec Group has hired BNP Paribas           to sell
 its oil business in Nigeria and Gabon, three people with
 knowledge of the matter said, as the state-owned oil giant
 pares back its presence in Africa.                    
 
 KENYA MARKETS
 The Kenyan shilling        jumped to a 3 month high against
 the dollar on Wednesday as investors from abroad sought local
 stocks and government bonds due to a reduction in political
 risks.            
 
 KENYA ECONOMY
 The World Bank has cut its 2017 growth estimate for Kenya's
 economy to 4.9 percent, which would be the slowest annual
 expansion in five years, due to drought, sluggish credit
 growth and a prolonged election season, it said on
 Thursday.            
 
 KENYA SUPERMARKET
 he chief executive officer of Kenya's Uchumi Supermarkets
           Julius Kipng'etich, who was hired to revive the
 loss-making retailer, has resigned, the company
 said.            
 
 GHANA TELECOMS
 MTN Ghana         , will sign a 510 million cedi ($112
 million) syndicated loan facility arranged by Ecobank
         , sources close to the deal told Reuters on
 Wednesday.            
 
 TANZANIA-ZAMBIA RAILWAY
 The Tanzania-Zambia Railway Authority (TAZARA) has suspended
 all train services, including the transportation of copper
 following a strike by workers in Africa's second-largest
 producer of the metal, the company said on
 Wednesday.            
 
 MALAWI DEBT
 Malawi's domestic debt has risen to 1.1 trillion kwacha ($1.5
 billion), over 25 percent of gross domestic product, Finance
 Minister Goodall Gondwe said on Wednesday.            
 
 NAMIBIA LENDING RATE
 Namibia's central bank left its benchmark lending rate
 unchanged at 6.75 percent on Wednesday, saying the level was
 appropriate to maintain the one-to-one currency peg with South
 Africa's rand as well as support economic growth.            
 
 CONGO ECONOMY
 Congo Republic's 2017 budget will be around 45 percent lower
 than initially planned at 1.5 trillion CFA francs ($2.6
 billion), as the west African country tightens its belt while
 negotiating an International Monetary Fund (IMF)
 bailout.            
 
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