#Africa #Markets – Factors to watch on Sept. 6

NAIROBI, Sept 6 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
– – – – –
EVENTS
*MAURITIUS – Monetary authorities are expected to announce
the latest central bank key lending rate

GLOBAL MARKETS
Asian stocks on Wednesday tracked Wall Street’s slide
overnight while the dollar was on the defensive with
tensions in the Korean Peninsula showing few signs of
abating.

WORLD OIL PRICES
Oil prices slipped on Wednesday as crude demand remained
subdued on the back of refinery closures following Hurricane
Harvey which hit the U.S. Gulf coast 10 days ago.

SOUTH AFRICA MARKETS
South Africa’s rand firmed against the dollar on Tuesday
after data showed the economy emerged from recession in the
second quarter.

NIGERIA ECONOMY
Nigeria moved out of recession in the second quarter but the
pace of growth was slow despite higher earnings from oil,
suggesting Africa’s largest economy remains fragile and
dependent on its dominant export.

NIGERIA POLITICS
Nigeria has cancelled its weekly cabinet meeting for the
second time since President Muhammadu Buhari returned from
three months of medical leave in Britain.

KENYA ELECTIONS
Kenya’s election commission said on Tuesday that different
staff will be in charge of the Oct. 17 re-run of the
presidential election, after the country’s top court last
week nullified the result of the August vote.

KENYA ECONOMY
Kenya’s private sector activity slumped in August, mainly
due to worries over a tense presidential election held on
Aug. 8, whose outcome has been invalidated by the Supreme
Court, data from a survey showed on Tuesday.

——–//

SOUTH AFRICA – GDP growth in Q2 2017 at 2.5% qq saa, 1.1% yy,
exits recession.

NIGERIA – GDP growth in Q2 2017 at 0.55%, exits recession.

——-//

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