African Markets - Factors to watch on Dec 7
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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
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AFRICA STOCKS
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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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2017-12-07 06:49:34


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