April 16, 2018 / 5:22 AM / 9 days ago

African Markets - Factors to watch on April 16

    NAIROBI, April 16 - The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Monday.
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 GLOBAL MARKETS
 Asian share markets were mixed and oil prices fell on Monday
 as relief U.S.-led strikes on Syria looked unlikely to
 escalate was tempered by concerns at Russia's potential
 reaction to new sanctions from
 Washington.                       
 
 WORLD OIL PRICES
 Oil prices fell on Monday as markets opened the week
 cautiously following western air strikes in Syria over the
 weekend, and as American drilling for new production
 continued to rise.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 SOUTH AFRICA MARKETS
 South Africa's rand steadied against the dollar late on
 Friday, ending a volatile week that saw the unit range bound
 as risk appetite see-sawed over global trade war fears and
 tensions between the United States and Russia over
 Syria.            
 
 SOUTH AFRICA KPMG
 KPMG South Africa is reviewing work done by its partners in
 the wake of the resignation of two partners who faced
 disciplinary charges, its chief executive said on Sunday,
 another setback for the firm whose work is under scrutiny by
 authorities.            
 
 NIGERIA POLITICS
 Nigerian President Muhammadu Buhari is to meet U.S.
 President Donald Trump at the White House on April 30, the
 White House said on Sunday.            
 
 NIGERIA OIL
 Nigerian state oil firm NNPC's engineering unit said on
 Friday its 2017 pretax profit fell 34 percent to 3.26
 billion naira ($10.4 mln) as a result of a lower foreign
 exchange gain.            
 NIGERIA SECURITY    
 Talks between the Nigerian government and Boko Haram
 militants on the release of schoolgirls kidnapped from the
 northeastern town of Chibok in 2014 have been set back by
 disagreements among their abductors, President Muhammadu
 Buhari said on Friday.                  
 KENYA MARKETS
 The Kenyan shilling        strengthened against the dollar
 on Friday with thin demand from oil importers being met by
 inflows from horticulture exporters and offshore investors
 interested in buying government bonds, traders
 said.            
 KENYA RATES
 Kenyan lawmakers have ruled out scrapping a law that caps
 commercial lending rates, local newspapers reported, after a
 meeting between the lawmakers and the central bank
 governor.             
 
 KENYA BANKS              
 Kenya's central bank said on Friday it had received
 proposals from potential buyers of a small lender that has
 been in receivership for more than two years.               
 KENYA OIL
 Kenya's National Oil Corporation and U.S. oil services
 company Schlumberger         have agreed to finalise a field
 development plan on behalf of the government for oil blocks
 in the northwest of the country.                 
 KENYA POLITICS 
 A surprise handshake between President Uhuru Kenyatta and
 opposition leader Raila Odinga has stirred up Kenyan
 politics as the long-time rivals set their sights on the
 2022 elections.               
 ZIMBABWE ECONOMY
 Zimbabwe is looking to sell shares in 35 state-owned firms,
 including telecoms and mining entities in the latest step to
 revive the economy under new political leadership, Finance
 Minister Patrick Chinamasa said on Friday..                
 
 ETHIOPIA POLITICS
 Ethiopia's new prime minister Abiy Ahmed has told opposition
 leaders the country will strengthen a range of political and
 civil rights, in the latest sign he may be willing to push
 through reforms announced in the wake of violent
 protests.                        
 UGANDA MARKETS
 The Uganda shilling        was trading in the same position
 on Friday amid some support from subdued appetite and
 inflows of hard currency from coffee exporters and
 non-governmental organisations.            
 
 MAURITIUS MARKETS
 The weighted average yield on Mauritius' 91-day Treasury
 bills fell to 3.51 percent at auction on Friday from 3.72
 percent at the last sale on April 6, the central bank
 said.            
 
 DEMOCRATIC REPUBLIC OF CONGO VIOLENCE
 The United Nations called on Friday for global funding to
 aid millions of people facing hellish living conditions in
 Democratic Republic of Congo after years of factional
 bloodshed and lawlessness.            
 
 TANZANIA ENERGY
 Tanzania has invited bids for consultancy services to help
 the government conclude negotiations with a group of
 international oil firms on a deal for the construction of a
 proposed liquefied natural gas (LNG) plant.            
 
 SOMALIA MILITARY
 The United Arab Emirates (UAE) is ending a military training
 programme in Somalia in response to the seizure of millions
 of dollars and the temporary holding of a UAE plane by
 Somali security forces last week.            
 
 CHAD ECONOMY
 The International Monetary Fund said it was resuming loan
 disbursements to Chad after the Central African oil producer
 reached an agreement in principal to restructure its more
 than $1 billion debt to Glencore          and four
 banks.            
 
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 (Compiled by Nairobi Newsroom)
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