#Africa #Markets – Factors to watch on Aug 14

NAIROBI, Aug 14 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday.
– – – – –
EVENTS:
*GHANA – Ghana’s Finance Minister holds news conference on the
state of the economy.

——-//

BOTSWANA – Inflation data for July due.

——-//

GLOBAL MARKETS
Asian stocks bounced on Monday after three losing sessions,
tracking a firmer Wall Street, while the dollar was weighed
down by tensions on the Korean peninsula and weak U.S.
inflation data which dampened prospects of another Federal
Reserve interest rate hike later this
year.

WORLD OIL PRICES
Oil prices dipped on Monday as a slowdown in Chinese refining
activity growth cast doubts over its crude demand outlook,
while rising U.S. shale output suggested supplies would likely
remain high.

SOUTH AFRICA MARKETS
South Africa’s rand gave up its modest gains on Friday ahead of
a ratings decision by Moody’s, erasing the benefits of higher
commodity prices as traders treaded cautiously and avoided
large bets.

NIGERIA PRESIDENT
Nigeria’s President Muhammadu Buhari has said he feels ready to
return home from medical leave in Britain, and is awaiting his
doctor’s permission, a presidency statement said on
Saturday.

NIGERIA PETROLEUM
Hundreds of Nigerians stormed a crude oil facility and gas
plant owned by Shell in the Niger Delta on Friday
demanding jobs and infrastructure development, a Reuters
witness said.

KENYA MARKETS
Kenya’s shilling was steady on Friday, with slow
activity in the market as participants awaited to outcome of
the presidential elections.

KENYA POLITICS
Kenya’s President Uhuru Kenyatta secured a second term in
office, results showed on Friday, setting off wild street
celebrations by his supporters and protests in opposition
strongholds in the capital and the west of the country.
Opposition leader Raila Odinga called on Sunday for a
strike to support his claim to the presidency and accused the
ruling party of “spilling the blood of innocent people” as he
brushed off growing pressure to concede election
defeat.

UGANDA CENTRAL BANK RATE
Uganda’s central bank left its key lending rate
unchanged at 10 percent on Friday and said economic activity
was picking up while inflation remained on target.

GHANA MARKETS
The Bank of Ghana said the yield on its weekly 91-day bill rose
to 12.62 percent at an auction on Friday, from 12.35 percent at
the last such sale on Aug 4.

GHANA GOLD OUTPUT
Ghana’s gold output is likely to drop sharply in 2017 because
of curbs on the small-scale mining that lifted production last
year but was causing damage to the environment, a government
official said on Saturday.

BURKINA FASO ATTACK
Suspected jihadists killed at least 17 people and wounded eight
during a raid on a restaurant in Burkina Faso’s capital, the
communications minister said, as security forces sought to free
people still trapped inside on Monday.

ZAMBIA POLITICS
Zambia plans to drop treason charges against the country’s main
opposition leader and free him from prison on Monday under a
deal brokered by the Commonwealth secretary-general, government
and legal sources told Reuters.

MOZAMBIQUE LENDING RATE
Mozambique’s central bank reduced its benchmark lending rate by
25 basis points to 22.5 percent, the regulator’s website showed
on Friday.

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