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African Markets - Factors to watch on Dec 7 - REUTERS

DECEMBER 07, 2017

NAIROBI, Dec 7 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - -

EVENTS:

*LIBERIA - The Supreme Court to rule on the fate of delayed presidential elections.

*Seychelles to release its consumer inflation data for November.

GLOBAL MARKETS Asian shares hovered near two-month lows on Thursday as softer oil and copper prices and uncertainty over U.S. policy kept many investors on the sidelines, even as some high-tech bellwethers bounced back after a searing sell-off.

WORLD OIL PRICES Oil inched higher on Thursday after a data report showed a decrease in U.S. crude inventories, but rising gasoline stocks and crude production weighed on the market.

EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South African stocks fell to their lowest in more than a month on Wednesday after Steinhoff shares plummeted when the company announced an investigation into accounting irregularities and its chief executive officer resigned. The rand retreated.

NIGERIA MARKETS Nigerian stocks gained for the sixth straight day on Wednesday to hit a new three-year high as investors bought consumer goods and banking shares. NIGERIA PETROLEUM China's Sinopec Group has hired BNP Paribas to sell its oil business in Nigeria and Gabon, three people with knowledge of the matter said, as the state-owned oil giant pares back its presence in Africa.

KENYA MARKETS The Kenyan shilling jumped to a 3 month high against the dollar on Wednesday as investors from abroad sought local stocks and government bonds due to a reduction in political risks.

KENYA ECONOMY The World Bank has cut its 2017 growth estimate for Kenya's economy to 4.9 percent, which would be the slowest annual expansion in five years, due to drought, sluggish credit growth and a prolonged election season, it said on Thursday.

KENYA SUPERMARKET he chief executive officer of Kenya's Uchumi Supermarkets Julius Kipng'etich, who was hired to revive the loss-making retailer, has resigned, the company said.

GHANA TELECOMS MTN Ghana , will sign a 510 million cedi ($112 million) syndicated loan facility arranged by Ecobank , sources close to the deal told Reuters on Wednesday.

TANZANIA-ZAMBIA RAILWAY The Tanzania-Zambia Railway Authority (TAZARA) has suspended all train services, including the transportation of copper following a strike by workers in Africa's second-largest producer of the metal, the company said on Wednesday.

MALAWI DEBT Malawi's domestic debt has risen to 1.1 trillion kwacha ($1.5 billion), over 25 percent of gross domestic product, Finance Minister Goodall Gondwe said on Wednesday.

NAMIBIA LENDING RATE Namibia's central bank left its benchmark lending rate unchanged at 6.75 percent on Wednesday, saying the level was appropriate to maintain the one-to-one currency peg with South Africa's rand as well as support economic growth.

CONGO ECONOMY Congo Republic's 2017 budget will be around 45 percent lower than initially planned at 1.5 trillion CFA francs ($2.6 billion), as the west African country tightens its belt while negotiating an International Monetary Fund (IMF) bailout.

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