#Africa #Markets – Factors to watch on June 15

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Thursday.
– – – – –
EVENTS:
NIGERIA – Expecting inflation data for May. The rate fell to
17.24 percent in April.

———//

UGANDA – Interest rate decision expected.

——-//

GLOBAL MARKETS
U.S. stock futures and Asian shares slid on Thursday, hit by
soft U.S. economic data, a relatively hawkish Fed and a
media report that U.S. President Donald Trump is being
investigated by a special counsel for possible obstruction
of justice.

WORLD OIL PRICES
Oil prices wallowed near their lowest levels in seven months
early on Thursday, hurt by high global inventories and
doubts over OPEC’s ability to implement production cuts.

SOUTH AFRICA MARKETS
South Africa’s rand gained on Wednesday as the dollar fell
after the United States reported weaker-than-expected
inflation and retail sales data. Stocks ended lower as
mobile phone operator MTN slid to a four-month low.

NIGERIA MARKETS
Nigeria’s share index climbed to a two-year high on
Wednesday as investors snapped up Nigerian stocks after MSCI
increased the country’s weighting in its frontier market
index.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Wednesday, but was expected to come under pressure due to
demand from oil importers, traders said.

GHANA INFLATION
Ghana’s annual consumer price inflation fell to 12.6 percent
in May from 13.0 percent the previous month due to lower
fuel prices, the statistics office said on Wednesday.

ZAMBIA LAWMAKERS
Zambia’s parliament suspended 48 opposition lawmakers on
Tuesday for boycotting a speech by the president, widening a
political rift that has alarmed rights groups.

ZIMBABWE BOND
Zimbabwe’s government plans to issue a three-year $50
million bond to finance irrigation infrastructure in the
country, part of efforts to improve its long term food
security, according to a term sheet of the bond seen by
Reuters on Wednesday.

——–//

South Africa – Retail sales in April at 1.5% yy (prev 0.9%).

Namibia – Central bank leaves benchmark interest rate
unchanged at 7%.

——–//

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