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African Markets - Factors to watch on May 16 - REUTERS

MAY 16, 2017

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NAIROBI, May 16 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - EVENTS: *Nigeria due to release its April consumer price inflation data *

Kenyan authorities expected to present a supplementary budget before parliament.

GLOBAL MARKETS Asian stocks briefly climbed to a fresh-two year high on Tuesday on the back of an overnight rise in Wall Street, while oil extended gains after major producers Saudi Arabia and Russia said supply cuts needed to continue into 2018.

WORLD OIL PRICES Oil prices rose on Tuesday, extending gains after a joint announcement by top producers Saudi Arabia and Russia to push for an extension of supply cuts until the end of March 2018.

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 Africa's rand firmed on Monday along with other emerging currencies as the dollar retreated on weak manufacturing data and geopolitical fears following North Korea's missile test, while stocks were flat.

KENYA TELECOMS UK-based telecoms group Vodafone moved to consolidate two of its African interests on Monday with the transfer of a 35 percent stake in Kenya's Safaricom to majority-owned South African subsidiary Vodacom .

KENYA MARKETS The Kenyan shilling was stable against the dollar on Monday and was seen playing in a narrow range amid increased demand from the manufacturing and energy sectors, traders said.

IVORY COAST MUTINY Renegade soldiers in Ivory Coast on Monday rejected a proposed deal to end their mutiny over unpaid bonuses just minutes after the defence minister announced on state-owned television that an agreement had been reached.

IVORY COAST BANKS Ivory Coast's banking association, the APBEF, ordered all banks in the West African nation to remain closed on Monday amid worsening unrest linked to a four-day nationwide army mutiny, banking and business officials said.

RWANDA GROWTH Rwanda expects its economy to grow 6.8 percent in 2018, up from a forecast 6.2 percent this year, thanks to stronger agriculture production and the construction of a new airport, Finance Minister Claver Gatete said on Monday.

BOTSWANA MINING Botswana's government has offered its state-owned BCL Mine Ltd to the Emirates Investment House (EIH) for a token price of $1 in a deal that will result in the Emirati firm taking over the mine's debts, minerals minister Sadique Kebonang said.

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African Markets - Factors to watch on May 16 - REUTERS

MAY 16, 2018

NAIROBI, May 16 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - -

GLOBAL MARKETS Asian stock markets dipped on Wednesday after Pyongyang abruptly called off talks with Seoul, throwing a U.S.-North Korean summit into doubt, while surging bond yields revived worries about faster U.S. interest rate hikes that could curb global demand.

WORLD OIL PRICES Oil prices fell on Wednesday, weighed down by ample supplies despite ongoing output cuts by producer cartel OPEC and looming U.S. sanctions against major crude exporter Iran.

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 Africa's rand fell more than two percent against the dollar on Tuesday, hurt by a greenback which drew strength from rising U.S. bond yields, while stocks ended lower.

KENYA MARKETS The Kenyan shilling held steady against the dollar on Tuesday supported by inflows from horticulture exports and non governmental organisations, traders said.

KENYA STOCKS Kenya's Capital Markets Authority is reviewing eligibility requirements for firms that wish to list on the bourse to remove unnecessary barriers and attract new listings, the regulator's chief executive told Reuters on Tuesday.

NIGERIA INFLATION Annual inflation in Nigeria stood at 12.48 percent in April, its lowest level in more than two years and its 15th straight monthly drop, the National Bureau of Statistics said on Tuesday.

NIGERIA MARKETS Nigeria's central bank said on Tuesday it had injected $210 million into the interbank foreign exchange market, extending efforts to boost liquidity and alleviate dollar shortages.

UGANDA ECONOMY Uganda's economy is expected to grow around 5.5 percent in the fiscal year ending in June and the pace of expansion could accelerate to 6 percent in the next 12 months boosted by good weather, the World Bank said on Tuesday.

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