#Africa #Markets – Factors to watch on May 22

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market moves and
political events may affect African markets on Monday.

——//

GHANA – Interest rate decision expected.

——//

GLOBAL MARKETS
Asian stocks posted their biggest daily rise in a month on
Monday following modest gains in U.S. shares, though the
greenback came under renewed pressure as Washington’s
political turmoil undermines confidence in U.S. economic
policy.

WORLD OIL PRICES
Oil prices rose on Monday, supported by reports that an
OPEC-led supply cut may not only be extended into next year
but might also be deepened to tighten the market and prop up
prices.

SOUTH AFRICA MARKETS
South Africa’s rand strengthened on Friday against the
ailing dollar, which limped toward its worst week against
major currencies since last July on the turbulence
surrounding Donald Trump’s U.S. presidency.

NIGERIA MARKETS
Nigeria’s overnight lending rate dropped to 26 percent on
Friday from 65 percent a day earlier after the central bank
refunded excess naira offered in an earlier dollar sale to
commercial lenders, injecting liquidity back into the money
market.

NIGERIA OIL
A Nigerian labour union that had called for the shutdown of
all Exxon Mobil Corp facilities in the Niger Delta
has suspended its strike at its Rivers state branch in the
oil production hub, two union representatives said on
Saturday.

KENYA MARKETS
The Kenyan shilling was steady against the dollar on
Friday, helped by weak dollar demand from oil importers,
traders said.

KENYA POLITICS
Police shot dead one person in northern Kenya’s Isiolo
county after a political rally attended by President Uhuru
Kenyatta at which supporters of rival political candidates
for regional government positions clashed, police
said.

UGANDA MARKETS
The Ugandan shilling was unchanged versus the dollar
on Friday due to thin demand from energy and manufacturing
firms.

CONGO HEALTH/EBOLA
A fourth person has likely died from Ebola in remote
northeastern Democratic Republic of Congo, the World Health
Organization said on Sunday, as the overall number of cases
rose to 37 from 29.

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