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African Markets - Factors to watch on June 14

NAIROBI, June 14 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Thursday.
- - - - -
EVENTS:
KENYA - Finance Minister to present spending estimates for
2018/19.

GLOBAL MARKETS
Asian shares eased on Thursday after the Federal Reserve
raised interest rates and took a more hawkish tone in
forecasting a slightly faster pace of tightening, while
concerns about U.S.-China trade frictions kept investors on
edge.

WORLD OIL PRICES
Oil prices eased on Thursday, dragged down by rising output,
although strong demand and a drop in U.S. fuel inventories
provided the market with some support.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand recovered some ground on Wednesday,
bouncing back against a weaker dollar despite retail sales
data pointing to a sluggish economy at the start of the
second quarter.

SOUTH AFRICA ECONOMY
A South African business confidence index fell in the second
quarter by 6 points, a survey showed on Wednesday, a sign
the economy was struggling amid hopes that President Cyril
Ramaphosa would help revitalise the country and attract
investment.

SOUTH AFRICA POWER
South Africa's cash-strapped state utility Eskom said some
of its power stations were operating below full capacity on
Wednesday, after union members blocked some staff from
entering around 10 plants because of a wage
dispute.

NIGERIA INFLATION
Annual inflation in Nigeria slowed to 11.61 percent in May,
its lowest level in more than two years and its 16th
straight monthly drop, the National Bureau of Statistics
said on Wednesday.

KENYA POLITICS
Kenya's public prosecutor said on Wednesday several recent
investigations by the national anti-graft agency into
alleged corruption by officials had gaps and lacked strong
evidence, forcing him to return the cases to the agency for
further work.

GHANA/IVORY COAST COCOA
Ghana and Ivory Coast will jointly agree on the volume and
timing of cocoa exports for the 2019/20 season to alleviate
a global glut, the head of Ghana's Cocobod said on
Wednesday.

CONGO REPUBLIC OIL
Congo Republic will open a call for oil license tenders in
September followed by a promotion campaign at an oil
conference in South Africa in November, Congo's hydrocarbons
minister and conference organisers said on
Wednesday.

UGANDA POLITICS
Ugandan President Yoweri Museveni and the country's police
chief have vowed a crackdown on crime after a ruling-party
lawmaker was shot dead last week by men on
motorbikes.

SOUTH AFRICA POLITICS
South Sudanese rebel leader Riek Machar has accepted an
invitation from the Ethiopian Prime Minister to talks with
South Sudanese president Salva Kiir in Addis Ababa next
week, a spokesman for Machar said on Wednesday.


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2018-06-14 06:53:59

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