January 18, 2018 / 5:10 AM / 10 months ago

African Markets - Factors to watch on Jan. 18

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 EVENTS:
 *U.N. Human Rights Council due to review Burundi record
 *Ghana President Nana Akufo-Addo addresses reporters to mark
 first year in office
 
 
 GLOBAL MARKETS
 Asian stocks struck record highs on Thursday, with a rally
 by Wall Street supporting bullish investor sentiment, while
 the dollar pulled back from three-year lows as comments by
 European Central Bank officials tempered the euro's recent
 rally.                       
 
 WORLD OIL PRICES
 Oil prices inched up on Thursday on a reported decline in
 U.S. crude inventories, but prices stayed below recent
 three-year highs as fuel supplies remain ample and as
 refineries scale back operations.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand weakened on Wednesday, giving back gains
 that lifted it to its firmest level in 2-1/2 years as
 caution crept back into the market and some investors held
 off extending long positions.            
 
 
 NIGERIA KIDNAPPING
 Kidnappers have abducted two Americans and two Canadians in
 the northern Nigerian state of Kaduna, killing two police
 officers, a police spokesman said on Wednesday.            
 
 
 NIGERIA OIL
 Nigerian militants threatened on Wednesday to attack
 off-shore oil facilities within days, raising fears of a
 repeat of a 2016 wave of violence that helped push Africa's
 biggest economy into recession.            
 
 
 NIGERIA SECURITY
 Suspected Boko Haram suicide bombers killed 12 people and
 injured 48 others in an attack on Wednesday on the
 northeastern Nigerian city of Maiduguri, officials from the
 State Emergency Management Agency (SEMA) for Borno
 said.                
 
 
 NIGERIA STOCKS
 Nigerian stocks hit a nine-year high on Wednesday, extending
 gains for a third straight session.                
 
 
 NIGERIA BONDS
 Nigeria plans to raise 110 billion naira by selling
 sovereign bonds with maturities of five and 10 years on Jan.
 24, the Debt Management Office (DMO) said on
 Wednesday.                
 
 
 KENYA MARKETS
 The Kenyan shilling        rose to its highest level in just
 over five weeks on Wednesday, benefiting from a globally
 weak dollar, traders said.            
 
 
 KENYA EU
 The European Union has shelved a 3.6 billion shilling ($35
 million) water conservation assistance scheme to Kenya after
 forest guards killed a member of a community indigenous to
 one of the forests involved in the project.            
 
 
 UGANDA MARKETS
 The Ugandan shilling        inched up on Wednesday, helped
 by inflows from some commodity exporters and
 non-governmental organisations.            
 
 
 UGANDA SECURITY
 Ugandan President Yoweri Museveni accused the United Nations
 on Wednesday of "preserving terrorism" in neighbouring
 Democratic Republic of Congo where U.N. peacekeepers have
 been unable to curb deadly attacks by Islamist
 rebels.                
 
 
 CONGO UN
 Militias in eastern Democratic Republic of Congo are uniting
 in opposition to President Joseph Kabila, a senior U.N.
 official there told a news conference in Geneva on
 Wednesday.                
 
 
 CONGO REPUBLIC OPEC
 Congo Republic plans to join the OPEC oil cartel, the
 government said, as the former French colony presses ahead
 with projects that could help it become the third-largest
 oil producer in sub-Saharan Africa.                     
 
 
 ETHIOPIA POLITICS
 Ethiopia freed a senior opposition leader on Wednesday,
 advancing efforts to calm political turmoil following
 violence and mass protests that shook the country in 2015
 and 2016.            
 
 
 ZIMBABWE CURRENCY
 Zimbabwe will not stop using "bond notes", a domestic
 quasi-currency, until the economy fully recovers, Finance
 Minister Patrick Chinamasa said on Wednesday.               
 
 
 GHANA POLITICS
 Ghana's economy is rebounding and the major commodity
 exporter is poised to wean itself off bailouts through
 sustained fiscal discipline and a battle against corruption,
 President Nana Akufo-Addo said on Wednesday.            
 
 
 IVORY COAST OIL 
 Ivory Coast awarded Tullow Oil         two new oil and gas
 blocks on Wednesday, including one along the maritime
 boundary with Ghana, government spokesman Bruno Kone
 said.            
 
 
 IVORY COAST STOCKS
 West Africa's BRVM Bourse plans to list Mali's leading
 telecoms operator Sotelma and a regional banking group this
 year, its Chief Executive told Reuters on
 Wednesday.                
 
 
 AFRICA GLAXOSMITHKLINE/DRUGS
 GlaxoSmithKline         is cutting back operations in Africa
 as its new Chief Executive Emma Walmsley seeks to make the
 British drugmaker more competitive in emerging markets by
 ditching her predecessor's expansion plans for the
 continent.              
 
 
 MALI GOLD 
 industrial gold production in Mali rose to 49.6 tonnes in
 2017, up 5 percent from the previous year, a senior Mines
 Ministry official said on Wednesday.            
 
 
 MAURITIUS STORM
 Mauritius closed its port and airport on Wednesday as it
 raised its alert level for a tropical cyclone that is
 bearing down on the island.                    
 
 
 ITALY NIGER-LIBYA
 Italy's parliament approved on Wednesday an increased
 military presence in Libya and the deployment of up to 470
 troops in Niger to combat migration and the trafficking of
 people towards Europe, many of whom wash up on Italian
 shores.                    
 
 
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