#Africa #Markets – Factors to watch on June 8

NAIROBI, June 8 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.
– – – – –
EVENTS
*Uganda, Tanzania, Rwanda and Mauritius finance ministers to
read their countries’ 2017/18 fiscal year budgets.

——//

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

TANZANIA – Inflation data for May expected.

——-//

GLOBAL MARKETS
Asian shares wobbled on Thursday as investors braced for any
surprises from the UK elections, the European Central Bank’s
policy meeting and congressional testimony from ex-FBI
director James Comey who was fired by President Donald Trump
last month.

WORLD OIL PRICES
Crude futures edged up in early Asian trading on Thursday
following heavy losses in the previous session after
official data showed that U.S. inventories rose for the
first time in 10 weeks, reawakening concerns of a supply
glut.

SOUTH AFRICA MARKETS
South Africa’s rand steadied against the dollar on Wednesday
after selling off the day before when data showed the
country sank into recession again last quarter, as market
focus turned to global events.

NIGERIA MARKETS
Nigerian shares resumed a two-week rally on Wednesday,
recovering from the previous day’s loss thanks to gains in
the cement and petroleum sectors.

NIGERIA DEBT
Nigeria plans to sell 236.66 billion naira ($777.1 million)
of short-dated treasury bills at an auction on June 14, the
central bank said on Wednesday.

NIGERIA CRUDE
Royal Dutch Shell lifted force majeure on exports
of Nigeria’s Forcados crude oil, a spokeswoman said on
Wednesday, bringing all of the West African country’s oil
exports fully online for the first time in 16 months.

KENYA MARKETS
The Kenyan shilling gained slightly against the
dollar on Wednesday, buoyed by inflows from remittances and
non-governmental organisations.

MAURITIUS INFLATION
Mauritius’ year-on-year headline inflation rose to 5.9
percent in May, from 2.9 percent in April, fuelled by higher
costs of food and non-alcoholic beverages, the statistics
office said on Wednesday.

——-//

Ethiopia – Inflation in May at 8.7% yy (prev 8.6%).

——-//

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