#Africa #Markets – Factors to watch on June 1

NAIROBI, June 1 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
– – – – –
GLOBAL MARKETS
Sterling retreated on Thursday on fears that Prime Minister
Theresa May could lose control of parliament in Britain’s
June 8 election, while conflicting signals on the health of
China’s manufacturing sector kept most Asian stock markets
in check.

WORLD OIL PRICES
Oil futures rose on Thursday after slumping to a three-week
low in the previous session, buoyed by a report from an
industry body that showed U.S. crude stockpiles had fallen
more than expected.

SOUTH AFRICA MARKETS
South Africa’s rand weakened on Wednesday with a combination
of mixed trade data and a looming interest rate hike in the
United States keeping traders cautious.

NIGERIA MARKETS
Nigeria’s foreign exchange reserves fell to $30.49 billion
as of May 25, the lowest level since April 18 and down 0.87
percent from a month ago, central bank data showed on
Wednesday.

DEMOCRATIC REPUBLIC OF CONGO ECONOMY
A delegation from the International Monetary Fund is in
Democratic Republic of Congo to discuss possible financial
aid to counter high inflation and rapid currency
depreciation, the prime minister said on Wednesday.

KENYA MARKETS
The Kenyan shilling was unchanged on Wednesday with
dollar inflows from charities and remittances meeting
end-month demand from oil importers, traders said.

KENYA INFLATION
Kenya’s inflation rose in May, driven by higher
food prices, the statistics office said on Wednesday.

KENYA RAILWAYS
Kenya inaugurated a $3.2 billion railway funded by China
linking the capital Nairobi to the port of Mombasa on
Wednesday, the country’s biggest infrastructure project
since independence more than 50 years ago.

UGANDA INFLATION
Higher food prices pushed up Ugandan inflation in May,
the statistics office said on Wednesday, but
policy makers are not expected to hike rates because weak
economic growth is still an overriding concern.

——–//

Kenya – Inflation in May at 11.7% yy (prev 11.5%).

Uganda – Inflation in May at 7.2% yy (prev 6.8%).

——–//

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s