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African Markets - Factors to watch on Oct. 26
October 26, 2017 / 5:04 AM / 24 days ago

African Markets - Factors to watch on Oct. 26

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Thursday.
    - - - - -
 EVENTS:
 *Kenya holds fresh presidential elections after Supreme
 Court nullified August vote
 
 
 GLOBAL MARKETS
 Asian stocks barely changed on Thursday, capped as Wall
 Street shares pulled back from record highs, while the euro
 stretched gains ahead of a European Central Bank meeting
 that could take a major step away from its accommodative
 policy.                       
 
 WORLD OIL PRICES
 U.S. oil prices extended declines on Thursday after
 government data showed a surprise climb in U.S. crude
 inventories.                 
 
 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 dropped to a 10-month low on Wednesday
 after Finance Minister Malusi Gigaba flagged weaker growth
 expectations and rising government debt in his budget
 speech. Stocks were firmer.            
 
 
 NIGERIA SECURITY
 Suspected Boko Haram militants killed eight soldiers and one
 civilian in an attack in Nigeria's northeast, a police
 official said on Wednesday, the latest sign that the
 eight-year conflict is far from slowing.                
 
 
 NIGERIA GASOLINE
 Nigeria must remove its gasoline price cap to prevent
 shortages, enable investment and keep the government from
 using valuable resources to import fuel, delegates at the
 OTL Expo in Lagos said on Wednesday.             
 
 
 NIGERIA UNILEVER/BOND
 Unilever Nigeria's              58.85 billion-naira ($187
 million) rights issue was 120 percent subscribed, the
 company said on Wednesday.            
 
 
 KENYA ELECTION
 Kenyans vote on Thursday in a presidential election re-run
 overshadowed by an opposition boycott that will almost
 certainly hand victory to President Uhuru Kenyatta, but with
 a mandate compromised by low turnout and procedural
 flaws.               
 
 
 UGANDA CURRENCY
 Political tension spurred by a plan to extend Ugandan leader
 Yoweri Museveni's rule is fuelling depreciation pressure on
 the local currency, the shilling       , a central bank
 official told Reuters on Wednesday.            
 
 
 UGANDA OIL
 Uganda expects investments of $15 billion to $20 billion in
 its oil industry in the next three to four years, Ernest
 Rubondo, executive director of Uganda's petroleum authority,
 told a conference in Cape Town.               
 
 
 GHANA INFLATION
 Ghana's producer price inflation              rose to 7.6
 percent year-on-year in September from 6.6 percent a month
 before on the back of higher fuel prices, the statistics
 office said on Wednesday.                
 
 
 IVORY COAST OIL
 Ivory Coast is offering 22 new blocks for hydrocarbon
 exploration at a new licensing round which started on
 Wednesday, its oil minister said.            
 
 
 MADAGASCAR PLAGUE 
 A plague epidemic in Madagascar has killed 124 people since
 August in an outbreak that has hit the island's two main
 cities the hardest, the authorities said on
 Wednesday.                    
 
 
 NAMIBIA RATES
 Namibia's central bank left its benchmark lending rate
 unchanged at 6.75 percent on Wednesday, saying the level was
 appropriate to support economic growth and currency
 stability.              
 
 
 SOUTH SUDAN USA
 The United States has lost trust in South Sudan's government
 for fueling the country's civil war and it must bring peace
 or risk losing support from Washington, U.S. Ambassador to
 the United Nations Nikki Haley told the nation's President
 Salva Kiir.            
 
 
 SOUTH SUDAN VIOLENCE
 Foreign victims of an attack on aid workers in South Sudan
 began giving testimony via video link from the United States
 on Wednesday in the trial of government soldiers accused of
 murder and gang rape.              
 
 
 SOMALIA VIOLENCE
 Three people died in Somalia on Wednesday in different
 attacks, one of which targeted a patrol of peacekeepers near
 the country's capital, Mogadishu, officials told
 Reuters.                
 
 
 TANZANIA GOLD/BARRICK
 Barrick Gold Corp          said on Wednesday it would work
 with the government of Tanzania to find a way for a gold
 export ban to be lifted on its Acacia Mining         unit
 and was aiming for a final agreement in the first half of
 2018.                
 
 
 TANZANIA MINING 
 Human rights groups asked Tanzania's president on Wednesday
 to address allegations of rights abuses at Acacia Mining's
          North Mara gold mine in talks under way with the
 firm's parent company, according to a letter seen by
 Reuters. 
 
 
 BURUNDI INFLATION
 Burundi's annual inflation rate rose to 15.2 percent in
 September from 13.9 percent in August, driven up by high
 costs of housing, water and electricity, official data
 showed on Wednesday.              
 
 
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