(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market moves and
political events may affect African markets on Thursday.
Asian stocks rose to near decade highs on Thursday,
continuing to ride on a global equities rally, while the
dollar resumed its rise on the back of a spike in U.S.
WORLD OIL PRICES
Oil prices were stable on Thursday, supported by ongoing
OPEC-led supply cuts, tensions in the Middle East and lower
U.S. production due to hurricane-enforced closures.
SOUTH AFRICA MARKETS
South Africa’s rand slipped to a one-week low against the
dollar on Wednesday, hurt by a combination of a firmer
dollar, higher-than-expected inflation print and negative
sentiment spurred by recent cabinet changes.
Nigeria’s Securities and Exchange Commission (SEC) said on
Wednesday it had ordered the suspension of Oando
shares, citing concerns about possible insider trading and
the oil company’s shareholding structure.
Kenya’s central bank sold dollars on Wednesday in the
foreign exchange market after the shilling weakened, on
news that an election official had resigned her job week
before a repeat election, traders said.
The head of Kenya’s election commission said on Wednesday he
could not guarantee next week’s presidential election will
be free and fair, citing interference from politicians and
threats of violence against his colleagues.
KENYA CENTRAL BANK
Political uncertainty is high in Kenya following the
annulment of the August presidential elections, but
political and judicial institutions have emerged stronger in
the process, the country’s central bank governor said on
Ghana’s cocoa regulator Cocobod is in talks with
Export-Import Bank of China (EXIM) to secure a $500 million
loan to overhaul the sector and protect against global price
volatility, two senior officials said on Wednesday.
ZIMBABWE BUDGET DEFICIT
Zimbabwe plans to cut its budget deficit by half next year
to 4 percent of GDP, the national Treasury said, an
ambitious goal at a time when the country is expected to
hold a presidential vote that veteran President Robert
Mugabe is set to contest.
ANGOLA STATE OIL FIRM
Angola is not the next Venezuela, the head of state oil firm
Sonangol said on Wednesday while pledging to further cut
debt, even if both oil-rich nations have relied heavily on
loans from China.
SOUTH AFRICA – Inflation in Sep-17 at 5.1% yy (prev 4.8%).
SOUTH AFRICA – Retail sales in Aug-17 at 5.5% yy (prev 1.6% rev).