#Africa #Markets – Factors to watch on June 22

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

GLOBAL MARKETS
Asian stocks advanced on Thursday as oil prices struggled to
climb off a 10-month low hit overnight on concerns over a
supply glut and falling demand.

WORLD OIL PRICES
Oil prices rose on Thursday after U.S. crude and gasoline
stockpiles fell, but worries over whether OPEC-led output
cuts would be able to rein in a three-year glut continued to
drag.

SOUTH AFRICA MARKETS
South Africa’s rand extended losses against the dollar on
Wednesday and government bonds weakened after data showed
inflation rose in May but not enough to change expectations
that the central bank will be loosening monetary policy this
year.

NIGERIA MARKETS
Nigerian stocks fell 2.4 percent on Wednesday after index
provider MSCI said it would leave the West African country
in its frontier index until at least November, when it will
again assess investor access to the market.

NIGERIA OIL
Indonesian engineering firm PT Intim Perkasa has expressed
an interest in building a refinery in Nigeria, the West
African country’s state oil company said on
Wednesday.

KENYA MARKETS
The Kenyan shilling was steady against the dollar on
Wednesday with dollar receipts from agricultural exporters
matching demand from energy companies buying dollars to
finance imports, traders said.

KENYA GAMBLING
Kenya’s president signed a law on Wednesday that raises the
tax rate on gambling but sets it at a lower rate than had
originally been proposed.

UGANDA MARKETS
The Ugandan shilling was stable on Wednesday, and was
seen getting support from dollar inflows from sources like
remittances, charities and commodity exporters weighing
against weak demand.

ZAMBIA ECONOMY
Zambia’s economy will likely grow 4.3 percent in 2017,
higher than a budget projection of 3.4 percent, boosted by
increasing agricultural production, mining output and
enhanced power generation, the finance minister said on
Wednesday.

ZAMBIA POLITICS
Zambian prison authorities on Wednesday transferred an
opposition leader who is charged with treason from a maximum
security facility back to one in the capital following a
court order by a magistrate.

SOUTH SUDAN FAMINE
More South Sudanese people are going hungry and 45,000 are
still living in famine-like conditions even though South
Sudan is no longer classified as being in famine, a
U.N.-backed food security report said on
Wednesday.

CENTRAL AFRICAN REPUBLIC-VIOLENCE/UN
The United Nations said on Wednesday that Congo Republic
will withdraw its troops from a U.N. peacekeeping mission in
Central African Republic after a review sparked by sexual
abuse accusations found “systemic problems in command and
control.”

CENTRAL AFRICAN REPUBLIC VIOLENCE
As many as 100 people may have been killed in a day of
clashes between rival factions in the Central African
Republic diamond-mining town of Bria, the mayor said on
Wednesday.

MALIA POLITICS
Mali’s government said on Wednesday it was delaying a July 9
referendum on constitutional amendments that would reinforce
presidential powers and create new regions under an accord
signed in 2015 with northern separatists.

SEYCHELLES ECONOMY
Seychelles’ economy is seen growing at 4.1 percent this year
from 4.5 percent in 2016, its finance minister said, while
the International Monetary Fund said performance of its
tourism sector remained vulnerable to external
factors.

IVORY COAST COCOA/PORTS
Roads leading to Ivory Coast’s major cocoa port of San Pedro
have reopened after a week-long closure caused by heavy
rains, the prime minister’s office said on
Wednesday.

——–//

South Africa – Inflation in May at 5.4% yy (prev 5.3%).

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