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African Markets - Factors to watch on May 31

(Corrects to remove Kenya first quarter 2018 GDP data, which is due in end June)
NAIROBI, May 31 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
- - - - -
EVENTS:
*KENYA - The statistics office to release consumer inflation
data for May.
*UGANDA - The statistics office to release consumer
inflation data for May.

GLOBAL MARKETS
Asian stocks rebounded from a two-month trough on Thursday,
while the euro enjoyed a respite after sinking to its lowest
in 10 months as political turmoil in Italy that had roiled
global financial markets showed signs of easing.


WORLD OIL PRICES
Oil prices dropped on Thursday, weighed down by a surprise
rise in U.S. crude inventories and by expectations that OPEC
and other producers could increase output at a meeting in
June.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand bounced back over 1 percent on Wednesday
as the dollar fell from nearly seven month highs seen on
Tuesday.

NIGERIA MARKETS
Nigeria's central bank said on Wednesday it had injected
$210 million into the interbank foreign exchange market,
extending efforts to boost liquidity and alleviate dollar
shortages.

KENYA MARKETS
The Kenyan shilling was expected to remain steady
against the dollar on Wednesday due to reduced demand from
importers who already covered their end month obligations,
traders said.

COCA-COLA KENYA
Coca-Cola Beverages Africa (CCBA), the continentís largest
soft drinks bottler, said on Wednesday it would invest $100
million in Kenya over the next five years to improve
infrastructure and launch new products.

UGANDA TELECOMS
Uganda's telecommunications regulator said on Wednesday it
was setting up a committee to investigate the local unit of
South Africa's MTN Group after uproar on social
media about its mobile money policies.

DEMOCRATIC REPUBLIC OF CONGO MINING
International mining companies operating in Democratic
Republic of Congo will resort to legal action if their
concerns over a new mining code signed into law in March are
not addressed, they said in a letter to the mines minister
this week.

ZIMBABWE POLITICS
Zimbabwe will hold presidential and parliamentary elections
on July 30, President Emmerson Mnangagwa said on Wednesday,
a vote he promises will be free and fair with international
monitoring after the ouster of 94-year-old strongman Robert
Mugabe.

ETHIOPIA POLITICS
Ethiopia's ruling coalition started talks with opposition
groups on Wednesday on amending provisions of an
anti-terrorism law that critics say has criminalised
dissent, state-affiliated media said.

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First Published: 2018-05-31 06:44:03
Updated 2018-05-31 07:49:21


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