October 19, 2017 / 4:58 AM / in a month

African Markets - Factors to watch on Oct. 19

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 GLOBAL MARKETS
 Asian stocks rose to near decade highs on Thursday,
 continuing to ride on a global equities rally, while the
 dollar resumed its rise on the back of a spike in U.S.
 yields.
            
 
 WORLD OIL PRICES
 Oil prices were stable on Thursday, supported by ongoing
 OPEC-led supply cuts, tensions in the Middle East and lower
 U.S. production due to hurricane-enforced closures.
      
 
 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 slipped to a one-week low against the
 dollar on Wednesday, hurt by a combination of a firmer
 dollar, higher-than-expected inflation print and negative
 sentiment spurred by recent cabinet changes.
             
 
 NIGERIA MARKETS
 Nigeria's Securities and Exchange Commission (SEC) said on
 Wednesday it had ordered the suspension of Oando OANDO.LG
 shares, citing concerns about possible insider trading and
 the oil company's shareholding structure.
             
 
 KENYA MARKETS
 Kenya's central bank sold dollars on Wednesday in the
 foreign exchange market after the shilling KES= weakened, on
 news that an election official had resigned her job week
 before a repeat election, traders said.
             
 
 KENYA ELECTION
 The head of Kenya's election commission said on Wednesday he
 could not guarantee next week's presidential election will
 be free and fair, citing interference from politicians and
 threats of violence against his colleagues.
             
 
 KENYA CENTRAL BANK 
 Political uncertainty is high in Kenya following the
 annulment of the August presidential elections, but
 political and judicial institutions have emerged stronger in
 the process, the country's central bank governor said on
 Wednesday.
                 
 
 GHANA MARKETS
 Ghana's cocoa regulator Cocobod is in talks with
 Export-Import Bank of China (EXIM) to secure a $500 million
 loan to overhaul the sector and protect against global price
 volatility, two senior officials said on Wednesday.
             
 
 ZIMBABWE BUDGET DEFICIT
 Zimbabwe plans to cut its budget deficit by half next year
 to 4 percent of GDP, the national Treasury said, an
 ambitious goal at a time when the country is expected to
 hold a presidential vote that veteran President Robert
 Mugabe is set to contest.
             
 
 ANGOLA STATE OIL FIRM
 Angola is not the next Venezuela, the head of state oil firm
 Sonangol said on Wednesday while pledging to further cut
 debt, even if both oil-rich nations have relied heavily on
 loans from China.  
                 
 
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