#Africa #Markets – Factors to watch on May 5

NAIROBI, May 5 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.
– – – – –
EVENTS:
* SOUTH AFRICA: Moody’s announces its ratings decision
on South Africa this week. The agency put South Africa on
review for a downgrade after the President Jacob Zuma
cabinet reshuffle that saw a respected finance minister
being fired.
* SOUTH AFRICA: World Economic Forum on Africa will be
held in Durban, South Africa, on 3-5 May 2017. The meeting
will convene regional and global leaders from business,
government and civil society to explore solutions to create
economic opportunities for all.
* SOUTH AFRICA: South Africa’s Treasury holds weekly
auction for 3-month, 6-month 9-month and 1-year treasury
bills
* MAURITIUS: Repo rate decision.

GLOBAL MARKETS
Asian stocks declined for a third consecutive day on Friday
as fresh falls in commodities raised concerns about the
health of the global economy, though the euro bucked the
broad weakness on receding concerns about France’s
presidential election.

WORLD OIL PRICES
Oil prices fell by as much as a further 3 percent on Friday,
after prices had crashed to five-month lows in the previous
session, as concerns about global oversupply wiped out all
of the price gains since OPEC’s move to cut
output.

NIGERIA MARKETS
A recent rise in oil revenues has helped the central bank to
defend the naira and stabilise the parallel market foreign
exchange rate, central bank governor Godwin Emefiele said on
Thursday.

NIGERIA OIL
A Nigerian village has filed a lawsuit in Milan against
Italian oil company Eni demanding compensation for
damage caused by an oil pipeline explosion in 2010, an
Italian lawyer representing the village said on Thursday.

KENYA MARKETS
The Kenyan shilling weakened slightly against the
dollar on Thursday due to an increased demand from importers
in the energy sector, but it was seen as range-bound for the
remainder of the session, traders said.

KENYA TEA
A drought in many parts of Kenya’s farming areas has cut its
first-quarter tea production by more than a third from a
year earlier to 90.09 million kg, the Tea Board said on
Thursday.

ALGERIA POLITICS
Algerian voters looked set to hand the ruling FLN and its
allies another five-year mandate in a parliamentary election
on Thursday overshadowed by low oil prices and concerns over
the health of the country’s elderly president, Abdelaziz
Bouteflika.

BOTSWANA MINING
The World Bank on Thursday called on Botswana to make
details of its large mining contracts with companies public
to improve transparency in the diamond rich country’s
business dealings.

——//

Ethiopia – Inflation in April at 8.6% yy (prev 8.5%).

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