#Africa #Markets | 8 Nov

NAIROBI, Nov 8 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.

EVENTS:
*Tanzania, Ghana and Seychelles to release their respective
consumer inflation data for October.

——//

SOUTH AFRICA – SACCI business confidence for Oct-17 due.

——-//

GLOBAL MARKETS
Asian shares eked out another decade peak on Wednesday as
data showed China’s demand for imports remained buoyant,
while the dollar dipped amid concerns Republican plans for
major U.S. tax cuts were running into
headwinds.

WORLD OIL PRICES
Oil markets dipped on Wednesday as traders took profits
after crude prices hit two-year highs, but markets remained
well supported by expectations of strong Chinese demand and
tightening supplies.

SOUTH AFRICA MARKETS
Bourse heavyweight Naspers and retailer Mr Price helped push
South African stocks to new record highs on Tuesday, while
the rand weakened in line with other emerging market
currencies.

NIGERIA MARKETS
Nigeria’s central bank said on Tuesday it had injected $195
million into the interbank foreign exchange market,
extending efforts to boost liquidity and alleviate dollar
shortages.

NIGERIA BUDGET
Nigerian President Muhammadu Buhari presented a record 8.6
trillion naira ($28.16 billion) budget for 2018 on Tuesday
to foster shaky growth in Africa’s largest economy as it
emerges from its first recession in 25 years.

NIGERIA PETROLEUM
Nigerian lawmakers on Tuesday called on the government to
scrap a sovereign wealth fund that the Natural Resource
Governance Institute, an international watchdog, has called
one of the world’s most opaque and poorly
governed.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Tuesday, with traders saying they were watching in the long
term for the outcome of presidential election
petitions.

KENYA ECONOMY
Kenya’s economy should rebound in 2018 after drought and
political turmoil during a prolonged election cycle cut
nearly 1 percent from this year’s early economic growth
forecast, Finance Minister Henry Rotich said on
Tuesday.

KENYA POLITICS
Kenya’s opposition leader Raila Odinga said on Tuesday he
wants an interim government to run the country for six
months while the constitution is reviewed to curb the
president’s authority.

TANZANIA ECONOMY
Tanzania’s economy is expected to expand by 7.1 percent in
2018, slightly up from an estimated 7.0 percent this year,
its finance minister said on Tuesday, underpinned by faster
expansion in communications, transport and construction
sectors.

LIBERIA POLITICS
Liberia’s President Ellen Johnson Sirleaf on Tuesday said
democracy in the West African country was being threatened,
a day after the Supreme Court put a presidential runoff on
hold over fraud allegations.

IVORY COAST INVESTMENT
The Millennium Challenge Corporation, the U.S. government’s
main development fund, said on Tuesday it had signed a
$524.7 million investment compact with Ivory Coast to build
schools and improve roads around the busy port in the
commercial capital Abidjan.

ZIMBABWE POLITICS
Zimbabwean President Robert Mugabe’s sacking of his deputy
Emmerson Mnangagwa was part of a wider purge, state media
said on Tuesday, in a clear out analysts say is meant to
neutralise any resistance to the political rise of his wife,
Grace.

——-//

MAURITIUS – Inflation in Oct-17 at 3.5% yy (prev 3.5%)

——//

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.