November 1, 2017 / 4:51 AM / 22 days ago

African Markets - Factors to watch on Nov. 1

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
    - - - - -
 
 GLOBAL MARKETS
 Asian shares hit a 10-year high on Wednesday on the back of
 solid economic growth globally, while oil prices extended a
 bull run on hopes that major oil producers will maintain
 their output cuts.                       
 
 WORLD OIL PRICES
 Brent crude oil prices were near two-year highs on Wednesday
 as OPEC has significantly improved compliance with its
 pledged supply cuts and Russia is also seen keeping to the
 deal.                 
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 
 
 SOUTH AFRICA MARKETS
 South Africa's rand retreated on Tuesday, erasing the
 previous session's gains despite the country showing an
 eighth consecutive monthly trade surplus, as dollar resumed
 its rally following positive employment data and gold prices
 stumbled.            
 
 
 NIGERIA MARKETS
 Nigeria's central bank said it had injected $195 million
 into the interbank foreign exchange market on Tuesday to
 meet demand for dollars as it continues its efforts to
 improve liquidity and reduce shortages.            
 
 
 NIGERIA DEBT
 The African Development Bank said on Tuesday it could
 consider an additional $400 million for Nigeria to support
 its growth and recovery efforts and was in talks with the
 government on how to help it reinvigorate Africa's largest
 economy.             
 
 
 NIGERIA POLITICS
 Nigeria's cabinet will be expanded to bring in "more people
 and fresh ideas, for the ultimate benefit of the people of
 Nigeria", President Muhammadu Buhari said on Tuesday on his
 official Twitter account.             
 
 
 NIGERIA ACCESS BANK
 Nigeria's Access Bank             plans to pursue organic
 growth in Ghana rather than mergers or acquisitions after
 the central bank raised the minimum capital requirement for
 lenders in the West African country, its group chief
 executive said on Tuesday.             
 
 
 NIGERIA BUSINESS
 Nigeria was among the 10 economies showing the most notable
 improvement in the World Bank's Ease of Doing Business list
 published on Tuesday.                
 
 
 KENYA MARKETS
 Kenyan shares headed higher on Tuesday as investors welcomed
 the conclusion of a repeat presidential election whose
 results were declared the previous day.            
 
 
 KENYA ELECTION
 Kenyan opposition leader Raila Odinga on Tuesday called for
 pickets and petitions against an election he boycotted last
 week won by President Uhuru Kenyatta but stopped short of
 appealing for mass protests or announcing a court challenge
 to the result.            
 
 
 KENYA JUDGES
 Kenya's government denied a request by Supreme Court judges
 for extra security after one of their bodyguards was shot,
 preventing them from holding a hearing that could have
 delayed last week's presidential election, a senior judicial
 source said on Tuesday.                
 
 
 KENYA INFLATION
 Kenya's inflation             slowed to 5.72 percent
 year-on-year in October to its lowest level in 17 months,
 driven by a fall in prices among food items, the statistics
 office said on Tuesday.             
 
 
 IVORY COAST BEER
 Heineken           said it aims to double its beer
 production in Ivory Coast by next year as it bids to compete
 with French company Castel in a booming market.             
 
 
 
 UGANDA MARKETS
 The Ugandan shilling        was broadly stable on Tuesday,
 supported by inflows from non-governmental organisations and
 commodity exporters amid sagging dollar demand from
 importers.            
 
 
 UGANDA INFLATION
 Uganda's inflation              slowed to 4.8 percent
 year-on-year in October from 5.3 percent a month earlier,
 the statistics office said on Tuesday.                
 
 
 MALI SECURITY
 Five Malian soldiers and one civilian were killed in central
 Mali on Tuesday during an ambush on a convoy of the
 president of the High Court of Justice, the defense ministry
 said in a statement.                
 
 
 BOTSWANA RETAIL
 Botswana's Choppies            plans to treble its stores in
 Kenya over the next three years, the retailer's chief
 executive told Reuters on Tuesday.              
 
 
 SUDAN MINING
 Sudan is seeking international partners to help develop its
 mining industry as it prepares for an economic upswing
 following the lifting of sanctions by the United States, the
 country's mining minister said on Tuesday.             
 
 
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