#Africa #Markets – Factors to watch on Sept. 7

NAIROBI, Sept 7 (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 shares bounced back on Thursday after U.S. President
Donald Trump and congressional leaders unexpectedly agreed
to raise the government debt limit until December,
eliminating the near-term risk of a government shutdown.

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 rallied to its firmest in two-and-a-half
months on Wednesday as rising tensions between North Korea
and United States lifted gold prices, further boosting a
local currency buoyant after the economy shook off
recession.

NIGERIA POLITICS
Nigeria’s President Muhammadu Buhari told members of his
party before he was first elected that he would only seek
one term, implying he did not intend at that time to run in
2019, the minister of women’s affairs told Reuters on
Wednesday.

KENYA ELECTIONS
Kenyan police are not cooperating with investigations by a
government-funded watchdog into violent deaths that followed
last month’s election, two sources with direct knowledge of
the probes said.

TOGO
Togo’s opposition chief called on Wednesday for the
immediate resignation of President Faure Gnassingbe, the
current head of a half century-old political dynasty,
rejecting a government move to introduce term limits as
protests gained momentum.

RWANDA ECONOMY
Rwanda’s economy is expected to grow at between 4.2 and 6.2
percent in 2017 but it may struggle to achieve the upper
limit due to slowing public spending and the impact of
drought on agricultural output, the World Bank said on
Wednesday.

———//

SOUTH AFRICA – Gross gold & FX reserves in August 2017
at $46.92bn (prev $46.75bn)

MAURITIUS – Inflation in August 2017 at 4.6% yy (prev 5.3%).

——-//

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