#Africa #Markets – Factors to watch on Aug 16

NAIROBI, Aug 16 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

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NAMIBIA – Interest rate decision expected.

SOUTH AFRICA – Retail sales data for June due.

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GLOBAL MARKETS
The dollar hoarded hefty gains on Wednesday after strong U.S.
retail data put a Federal Reserve rate hike back on the agenda,
while Asia stocks inched ahead as tensions in the Korean
peninsula simmered down a little.

WORLD OIL PRICES
Oil prices edged up on Wednesday on a fall in U.S. crude
inventories, although markets were still being weighed down by
general oversupply.

SOUTH AFRICA MARKETS
The rand weakened slightly on Tuesday as traders juggled upbeat
U.S. economic data with a South African court decision to
reject calls to shift the central bank’s policy
focus.

NIGERIA MARKETS
Nigerian stocks fell on Tuesday to a near two-week low, dragged
down by losses in banking, cement and fast moving consumer good
sectors, as some investors took profits from previous gains in
the market, traders said.

NIGERIA BONDS
Nigeria plans to raise 135 billion naira ($442.62 million) in
bonds on August 23, the debt office said on
Tuesday.

NIGERIA SECURITY
A woman suicide bomber blew herself up and killed 27 others at
a market in northeast Nigeria on Tuesday, two local officials
said, in an attack bearing the hallmark of Boko Haram
militants.

KENYA MARKETS
Kenya’s shilling was steady on Tuesday and traders said
it was forecast to strengthen due to low demand for the
dollar.

KENYA POLITICS
The Kenyan government is trying to shut down a rights group and
a pro-democracy organisation who raised queries over last
week’s disputed presidential election, officials said on
Tuesday, provoking international condemnation of the attempted
closures.

KENYA BANK EARNINGS
Barclays Bank of Kenya said on Tuesday its pretax
profit fell 12 percent to 5.15 billion shillings ($49.69
million) in the first half of the year, pulled down by a drop
in interest income.

TANZANIA VODACOM SHARES
Shares in Vodacom Tanzania Plc, part of South Africa’s Vodacom
Group rose nearly 6 percent above their issue price
in their debut on the Dar es Salaam Stock Exchange on
Tuesday.

UGANDA BANK EARNINGS
Stanbic Bank Uganda, a unit of South Africa’s Standard Bank
Group said on Tuesday its pretax profit dropped 11
percent in the first half of the year from the same period in
2016, squeezed by low interest earnings.

MAURITIUS ECONOMY
Mauritius needs to tighten monetary policy and modernise its
framework to respond to shocks and tackle inflationary
pressures, the International Monetary Fund said.

ZAMBIA MINING
Zambia’s state power company reduced electricity supply to two
First Quantum Minerals copper mines on Monday, after a
dispute over new, higher prices, Energy Minister David Mabumba
said on Tuesday.

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BOTSWANA – Inflation in July at 3.4% yy (prev 3.5%)

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