#Africa #Markets – Factors to watch on June 16

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Friday.
– – – – –
GLOBAL MARKETS
Asian stocks were little changed on Friday, as investors
searched for catalysts in the wake of a resumption of the
U.S. technology rout overnight.

WORLD OIL PRICES
Oil prices were not far off six-month lows, held down by an
ongoing supply overhang that persists despite an OPEC-led
effort to cut production and prop up crude markets.

AFRICAN CURRENCIES
Nigeria’s naira could strengthen against the dollar in the
coming week as offshore investors pile into local stocks,
while Kenya’s shilling is expected to be stable.

SOUTH AFRICA MARKETS
South African assets fell on Thursday, with mining stocks
the hardest hit after the government revamped the sector’s
ownership rules.

NIGERIA MARKETS
Nigeria’s central bank said on Thursday its new currency
window for investors had handled $2.2 billion of trade in
six weeks, but it had accounted for almost 30 percent of
that trade itself as it worked to keep the window operating.

KENYA MARKETS
The Kenyan shilling edged down on Thursday due to
increased dollar demand from oil importers, while traders
said they were on the lookout for dollar sales by the
central bank.

KENYA AIRWAYS DEBT
Kenyan lawmakers on Thursday approved a government proposal
to guarantee $750 million worth of debt owed by Kenya
Airways KQNA.NR, part of a broader financial restructuring,
parliament said in a statement.

GHANA MARKETS
Ghana named Standard Chartered Bank and local lender
Fidelity as lead managers for a 10 billion cedi ($2.27
billion) local bond to clear debts owed by public sector
energy utilities, the Finance Ministry said on Thursday.

ZIMBABWE INFLATION
Zimbabwe’s inflation rate quickened to 0.75 percent
year-on-year in May from 0.48 percent in April, data from
the national statistics agency showed on Thursday.

——-//

Namibia – Inflation in May at 6.3% yy (prev 6.7%).

Botswana – Inflation in May at 3.5% yy (prev 3.4%).

Nigeria – Inflation in May at 16.3% yy (prev 17.2%).

——-//

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