#Africa #Markets – Factors to watch on June 23

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market
moves and political events may affect African markets
on Friday.
– – – – –
EVENTS:
UN Secretary General in Uganda to attend summit on South
Sudan refugees aimed at raising $2 billion from donors

GLOBAL MARKETS
Asian shares flatlined on Friday but remained on track for a
weekly gain, while crude oil prices pulled away from this
week’s 10-month lows.

WORLD OIL PRICES
Oil edged up on Friday, recovering slightly from steep falls
earlier in the week, but is set for the worst performing
first-half in two decades despite ongoing production
cuts.

SOUTH AFRICA MARKETS
South Africa’s rand rallied on Thursday as investors cheered
a constitutional court ruling that parliament could hold a
secret ballot in a no-confidence vote against President
Jacob Zuma, who has said such a vote would be unfair.
Meanwhile, shares dipped.

NIGERIA MARKETS
Nigeria’s recent tentative steps to free up its naira
currency, particularly via a new trading window, have gone
down well with some adventurous stock and bond investors who
are cautiously returning to the markets they fled two years
ago.

NIGERIA BUDGET
Nigeria’s distributable government revenues rose to 462.4
billion naira ($1.43 billion) in May from 415.7 billion
naira in April due to higher proceeds from corporate taxes,
a government statement said on Thursday.

KENYA MARKETS
The Kenyan shilling weakened on Thursday due to
dollar demand from multinational companies paying dividends,
traders said.

UGANDA MARKETS
The Ugandan shilling was unchanged on Thursday and
was expected to get support from coffee export dollar
inflows, traders said.

UGANDA COFFEE
Uganda’s coffee exports jumped 42 percent in May from a
similar period last year, lifted by extra yields from new
maturing trees, state-run Uganda Coffee Development
Authority said on Thursday.

UGANDA REFUGEES
The European Union has offered 85 million euros ($94.89
million) to help fund relief operations for hundreds of
thousands of refugees flowing into Uganda from neighbouring
South Sudan, it said in a statement on Thursday.

SENEGAL AIRLINES
Senegal Air SA has ordered two ATR 72-600 aircraft in a 50
million euro ($56 million) deal as the new flagship carrier
seeks to build up a fleet ahead of its launch later this
year, the ministry of tourism and air transportation said on
Thursday.

DJIBOUTI PORT
Djibouti opened a $64 million port on Thursday, the third of
four ports designed to boost the tiny Horn of Africa
nation’s position as a trading hub, its ports authority
said.

SOMALIA ATTACK
A car bomb targeting a police station killed at least seven
people in Somalia’s capital Mogadishu on Thursday, police
said, and al Qaeda-linked al Shabaab said it was behind the
attack, the second this week.

CONGO VIOLENCE
At least 12 people were killed in northeastern Democratic
Republic of Congo in heavy firefights between the army and
militia fighters on Thursday, and several students sitting
exams were wounded in an explosion at a school, local
activists said.

NAMIBIA ECONOMY
Namibia’s economy shrunk by 2.7 percent in the first quarter
of this year after a revised contraction of 1.4 percent in
the last quarter of 2017, the statistics agency said on
Thursday.

MAURITIUS TRADE
Mauritius’ trade deficit widened 38 percent to 8.03 billion
rupees in April from the same period a year earlier driven
by higher imports of mineral fuels and lubricants, official
data showed on Thursday.

ZAMBIA COPPER
Copper production in Zambia, Africa’s No.2 producer of the
metal, is expected to rise to 850,000 tonnes in 2017 from
770,597 tonnes last year, the nation’s vice president said
on Thursday.

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