Views Article – Sharenet Wealth

Africa, Forex

African Markets – Factors to watch on January 17

(Adds link to story) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. – – – – – GLOBAL MARKETS Asian shares rose on Friday after global stock indexes and Wall Street posted more records, and as China’s economic growth matched expectations in spite of U.S. trade pressures. WORLD OIL PRICES Oil prices were steady on Friday as investors braced for data expected to show China’s economic growth last year slid to its slowest pace in 29 years, holding on to gains for now after Washington and Beijing inked a long-awaited trade deal. EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa’s rand inched up on Thursday after the central bank unexpectedly cut its main lending rate by 25 basis points to 6.25%, providing a stimulus to the flagging economy as it lowered its inflation forecasts significantly. KENYA MARKETS The Kenyan shilling firmed on Thursday supported by inflows from remittances and offshore investors buying stocks amid thin dollar demand from importers, traders said. NIGERIA OIL Nigeria is currently producing 1.774 million barrels of crude oil per day, its oil minister Timipre Sylva said on Thursday, above an estimate given by state oil firm NNPC in November of 1.6 million-1.7 million bpd. NIGERIA BONDS Foreign investors cut their participation in Nigerian government bond auctions last year, buying just 4.39% of all bonds issued compared with the previous year when they bought 10.99%, a debt office presentation showed. ANGOLA POLITICS Africa’s richest woman and Angola’s ex-first daughter Isabel dos Santos expressed interest on Thursday in running for the presidency despite an asset freeze and accusations of diverting more than a billion dollars of state money. ANGOLA OIL Italian oil major Eni and France’s Total were among the successful bidders for rights to develop three offshore blocks in Angola out of 10 auctioned late last year, the country’s petroleum regulator said on Thursday. SOUTH SUDAN TELECOMS South Africa’s MTN Group said on Thursday it had appointed industry veteran Gordian Kyomukama as chief executive officer of MTN South Sudan, effective Jan. 21. LESOTHO POLITICS Lesotho Prime Minister Thomas Thabane announced his intention to resign on Thursday, the South African Broadcasting Corporation reported. For the latest precious metals report click on For the latest base metals report click on For the latest crude oil report click on

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