#Africa #Markets – Factors to watch on May 11

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Thursday.
– – – – –
EVENTS:
KENYA – The central bank holds its weekly Treasury bills
auction.

——-//

SOUTH AFRICA – Mining & manufacturing production data for March due.

——//

GLOBAL MARKETS
Asian stocks rose on Thursday, getting a lift from a record
high close on MSCI’s global stocks benchmark after strong
gains in oil prices buoyed energy shares.

WORLD OIL PRICES
Oil prices rose on Thursday, and Brent was firmly back over
$50 per barrel, as a fall in U.S. fuel inventories and a
bigger than expected cut in Saudi supplies to Asia tightened
the market.

SOUTH AFRICA MARKETS
South Africa’s rand snapped two days of losses on Wednesday
as emerging markets broadly benefited from a retreating
dollar after U.S. President Donald Trump abruptly fired the
FBI director.

NIGERIA MARKETS
Foreign investors, generally welcoming of Nigerian
authorities’ apparent moves to loosen their grip on the
naira, say they will steer clear of a market they once
favoured until they are convinced of currency flexibility.

KENYA MARKETS
The Kenyan shilling weakened slightly against the
dollar on Wednesday, with demand from oil importers
outweighing inflows from remittances and the tourism sector,
traders said.

GHANA INFLATION
Higher transport costs helped drive Ghana’s annual inflation
rate higher to 13.0 percent in April from 12.8 percent the
previous month, the statistics office said on Wednesday.

RWANDA INFLATION
Rwanda’s inflation eased to 7.3 percent
year-on-year in April from 7.7 percent in March, the
National Bureau of Statistics said on Wednesday.

ZAMBIA ELECTRICITY PRICES
Zambia’s Energy Regulation Board has approved a 75 percent
increase in the price of electricity for retail customers in
2017, acting Chairman Francis Yamba said on Wednesday.

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