#Africa #Markets | 26 Oct

(REUTERS) The following company announcements, scheduled
economic indicators, debt and currency market moves and
political events may affect African markets on Thursday.

EVENTS:
*Kenya holds fresh presidential elections after Supreme
Court nullified August vote

——–//

SOUTH AFRICA – Producer inflation data for Sep-17 expected.

——–//

GLOBAL MARKETS
Asian stocks barely changed on Thursday, capped as Wall
Street shares pulled back from record highs, while the euro
stretched gains ahead of a European Central Bank meeting
that could take a major step away from its accommodative
policy.

WORLD OIL PRICES
U.S. oil prices extended declines on Thursday after
government data showed a surprise climb in U.S. crude
inventories.

SOUTH AFRICA MARKETS
South Africa’s rand dropped to a 10-month low on Wednesday
after Finance Minister Malusi Gigaba flagged weaker growth
expectations and rising government debt in his budget
speech. Stocks were firmer.

NIGERIA SECURITY
Suspected Boko Haram militants killed eight soldiers and one
civilian in an attack in Nigeria’s northeast, a police
official said on Wednesday, the latest sign that the
eight-year conflict is far from slowing.

NIGERIA GASOLINE
Nigeria must remove its gasoline price cap to prevent
shortages, enable investment and keep the government from
using valuable resources to import fuel, delegates at the
OTL Expo in Lagos said on Wednesday.

NIGERIA UNILEVER/BOND
Unilever Nigeria’s 58.85 billion-naira ($187 million) rights
issue was 120 percent subscribed, the company said
on Wednesday.

KENYA ELECTION
Kenyans vote on Thursday in a presidential election re-run
overshadowed by an opposition boycott that will almost
certainly hand victory to President Uhuru Kenyatta, but with
a mandate compromised by low turnout and procedural
flaws.

UGANDA CURRENCY
Political tension spurred by a plan to extend Ugandan leader
Yoweri Museveni’s rule is fuelling depreciation pressure on
the local currency, the shilling, a central bank
official told Reuters on Wednesday.

UGANDA OIL
Uganda expects investments of $15 billion to $20 billion in
its oil industry in the next three to four years, Ernest
Rubondo, executive director of Uganda’s petroleum authority,
told a conference in Cape Town.

GHANA INFLATION
Ghana’s producer price inflation rose to 7.6
percent year-on-year in September from 6.6 percent a month
before on the back of higher fuel prices, the statistics
office said on Wednesday.

IVORY COAST OIL
Ivory Coast is offering 22 new blocks for hydrocarbon
exploration at a new licensing round which started on
Wednesday, its oil minister said.

MADAGASCAR PLAGUE
A plague epidemic in Madagascar has killed 124 people since
August in an outbreak that has hit the island’s two main
cities the hardest, the authorities said on
Wednesday.

NAMIBIA RATES
Namibia’s central bank left its benchmark lending rate
unchanged at 6.75 percent on Wednesday, saying the level was
appropriate to support economic growth and currency
stability.

SOUTH SUDAN USA
The United States has lost trust in South Sudan’s government
for fueling the country’s civil war and it must bring peace
or risk losing support from Washington, U.S. Ambassador to
the United Nations Nikki Haley told the nation’s President
Salva Kiir.

SOUTH SUDAN VIOLENCE
Foreign victims of an attack on aid workers in South Sudan
began giving testimony via video link from the United States
on Wednesday in the trial of government soldiers accused of
murder and gang rape.

SOMALIA VIOLENCE
Three people died in Somalia on Wednesday in different
attacks, one of which targeted a patrol of peacekeepers near
the country’s capital, Mogadishu, officials told
Reuters.

TANZANIA GOLD/BARRICK
Barrick Gold Corp said on Wednesday it would work
with the government of Tanzania to find a way for a gold
export ban to be lifted on its Acacia Mining unit
and was aiming for a final agreement in the first half of
2018.

TANZANIA MINING
Human rights groups asked Tanzania’s president on Wednesday
to address allegations of rights abuses at Acacia Mining’s
North Mara gold mine in talks under way with the
firm’s parent company, according to a letter seen by
Reuters.

BURUNDI INFLATION
Burundi’s annual inflation rate rose to 15.2 percent in
September from 13.9 percent in August, driven up by high
costs of housing, water and electricity, official data
showed on Wednesday.

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