MTN:  7,817   0 (0.00%)  21/09/2018 00:00

African Markets - Factors to watch on Sept 12

NAIROBI, Sept 12 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
- - - - -
GLOBAL MARKETS
Asian stocks slipped to 14-month lows on Wednesday, as investor
confidence was chilled by the latest round of verbal threats in an
intensifying U.S.-China trade conflict.

WORLD OIL PRICES
Oil prices rose on Wednesday following a report of declines in
U.S. crude inventories and as looming sanctions against Iran
raised expectations of tightening supply, while top producer
Russia warned of a fragile global crude market.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand firmed on Tuesday as emerging market
currencies broadly staged a rally against the dollar following a
deep selloff, with investors seeing an opportunity to buy the
currency cheap.

NIGERIA TELECOMS
Nigeria's attorney general exceeded his powers in demanding $2
billion in taxes and charges from MTN Group , Africa's
biggest telecoms firm said in papers filed with Nigeria's High
Court and reviewed by Reuters.

KENYA MARKETS
The Kenyan shilling held steady against the dollar and was
expected to strengthen due to inflows from remittances and
offshore investors buying government debt, traders
said.

ETHIOPIA ERITREA RELATIONS
The leaders of Ethiopia and Eritrea re-opened crossing points on
their shared border for the first time in 20 years on Tuesday,
cementing a stunning reconciliation and giving Addis Ababa a
direct route to its former foe's Red Sea ports.

GHANA NATURAL GAS
Ghana has chosen two Chinese companies to build the infrastructure
it needs to import liquefied natural gas, resurrecting the $350
million Tema terminal project that would make the country the
first in sub-Saharan Africa to buy LNG.

ANGOLA PETROLEUM
Trafigura has lost its last big contract in Angola, once a core
market and revenue generator for the trading house, as the
country's new president Joao Lourenco part ways with oil firms
that worked with his predecessor Jose Eduardo Dos
Santos.

ZIMBABWE POLITICS
Zimbabwe's main opposition leader Nelson Chamisa may take a mock
presidential oath on Saturday, his spokesman said, three weeks
after President Emmerson Mnangagwa was inaugurated following a
court decision upholding his disputed election
victory.

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2018-09-12 06:45:21

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