October 18, 2019 / 5:36 AM / a month ago

African Markets - Factors to watch on Oct 18

    NAIROBI, Oct 18 - The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Friday.
                    - - - - -
 EVENTS:
 IMF publishes regional economic outlook for sub-Saharan
 Africa
 
 GLOBAL MARKETS
 Asian stocks stumbled on Friday after China posted its
 weakest growth in nearly three decades, countering a global
 lift in sentiment on the UK and European Union striking a
 long-awaited Brexit deal.                       
 
 WORLD OIL PRICES
 Oil prices fell on Friday after China, the world's largest
 oil importer, recorded its weakest quarter of economic
 growth in nearly three decades, dragged down by a trade
 dispute with the United States.                 
 
 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 firmed on Thursday after the country's
 cabinet approved the promulgation of its long-delayed plan
 for electricity generation amid nationwide power cuts by
 state utility Eskom.            
 
 NIGERIA ECONOMY
 Nigerian President Muhammadu Buhari has ordered a close
 audit of the government organization set up in 2000 to
 develop the oil-rich but stubbornly poor Niger Delta region.
             
 
 KENYA MARKETS
 Kenyan bank shares surged on Thursday after President Uhuru
 Kenyatta asked parliament to repeal a cap on commercial
 lending rates before he can sign off the 2019/20 (July-June)
 government budget, Refinitiv data showed.            
 
 The Kenyan shilling        was stable against the dollar on
 Thursday supported by tightening liquidity in the local
 money market as banks cut their long dollar positions to
 meet local reserve ratio requirements, traders said. 
 
 ANGOLA OIL PRIVATISATION
 Angola is hoping sweeping economic reforms will smooth an
 ambitious plan to sell key state assets, including stakes in
 oil company Sonangol, a share of Puma Energy and more than
 100 other enterprises.            
 
 ETHIO TELECOM
 Ethiopia’s state-run Ethio Telecom saw total revenues rise
 21% in the first quarter of its fiscal year compared with
 the same period a year earlier, the company said on
 Thursday, showing healthy growth as it prepares for foreign
 competition.                   
 
 ETHIOPIA CRASH
 Lawyers representing families of passengers killed in a
 Boeing 737 MAX crash in Ethiopia in March are set to issue
 subpoenas to Southwest Airlines LUV.N and American Airlines
 AAL.O, according to documents seen by Reuters.            
 
 GUNVOR CONGO CORRUPTION
 Swiss federal prosecutors have found oil trader Gunvor Group
 criminally liable for corruption in Congo Republic and Ivory
 Coast, ordering it to pay almost 94 million Swiss francs
 ($94.8 million), the Swiss Attorney General's Office said on
 Thursday.            
 
 
 
 
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