MTN:  7,306   +316 (+4.52%)  18/09/2018 00:00

African Markets - Factors to watch on Sept 3

NAIROBI, Sept 3 (Reuters) - The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Monday.
- - - - -
GLOBAL MARKETS.
Asian stocks dropped for the third consecutive session on
Monday, hit by worries over further escalation of the
U.S-China trade war and unstable emerging market currencies.


WORLD OIL PRICES
Oil prices fell on Monday amid rising supply from OPEC and
the United States, outweighing concerns that falling Iranian
output will tighten markets once U.S. sanctions bite from
November.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand held steady against the dollar on Friday
as traders consolidated positions after the unit fell more
than two percent in the previous session alongside other
emerging market currencies.
KENYA MARKETS
The Kenyan shilling firmed against the dollar on
Friday due to inflows from remittances and offshore
investors buying government debt subduing importer demand,
traders said.
KENYA ENERGY
Kenya's revenue authority imposed a 16 percent value added
tax on all petroleum products on Saturday, defying lawmakers
who had voted earlier this week to delay the levy for two
years due to concerns about the cost of living.
NIGERIA TELECOMS
MTN Group's plan to list its Nigerian unit in an
initial public offering this year is under threat after the
central bank ordered the South African telecoms giant to
hand over $8.1 billion allegedly sent abroad illegally,
sources said.
UGANDA POLITICS
Prominent Ugandan opposition lawmaker Robert Kyagulanyi
arrived in the United States on Saturday to seek medical
treatment for what he said was torture by authorities in his
country.

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(Compiled by Nairobi Newsroom
Email: nairobi.newsroom@thomsonreuters.com; tel: ++254 20 499
1232)



2018-09-03 06:29:50

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