African Markets - Factors to watch on May 18 - REUTERS
NAIROBI, May 18 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - GLOBAL MARKETS Asian stocks fell on Thursday and the dollar was stuck near six-month lows against a basket of currencies as uncertainty mounted over U.S. President Donald Trump's future following reports that he tried to interfere with a federal investigation. WORLD OIL PRICES Oil prices dipped on Thursday, weighed down by plentiful supplies despite an ongoing effort led by OPEC to cut production in order to tighten the market and prop up prices. 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 retreated from three-week highs on Wednesday as concerns over the fate of promised U.S. fiscal stimulus pulled investors away from emerging currencies into safe-haven assets. KENYA MARKETS The Kenyan shilling edged lower on Tuesday mainly due to demand for dollars by oil importers. KENYA OIL Africa-focused oil company Tullow Oil Plc said it encountered 75 metres of net oil pay in two zones at an exploration well in Northern Kenya.
NIGERIA ENERGY Nigeria's refineries processed 10 million barrels of crude oil in the first quarter, more than they did for the whole of 2015, after talks with militants reduced attacks on facilities, the head of the Nigerian National Petroleum Corporation (NNPC) said.
NIGERIA LOANS Nigeria plans to raise $3.5 billion in foreign loans including from the World Bank and from international debt markets to help fund its 2017 budget deficit, the head of its budget office told Reuters on Wednesday. UGANDA Uganda's energy ministry said on Wednesday it would award three exploration licences next month and also said it had selected two firms with whom it would start negotiations for a possible agreement to develop a planned crude refinery. GHANA CRUDE Tullow Oil plans to drill new wells and boost output at its TEN field off the coast of Ghana to 80,000 barrels per day (bpd) once a maritime border dispute with Ivory Coast is resolved, the company said on Wednesday. ZAMBIA MINING Zambia is close to reaching an agreement with mining companies over its plans to increase electricity prices, Finance Minister Felix Mutati said on Wednesday. ZAMBIA RATES Zambia's central bank cut its benchmark lending rate by 150 basis point to 12.5 percent, Governor Denny Kalyalya said on Wednesday, citing lower inflation and subdued economic growth. CENTRAL AFRICA REPUBLIC VIOLENCE Red Cross workers have found 115 bodies in Central African Republic's diamond-mining town of Bangassou after several days of militia attacks, the president of the aid group's local branch said on Wednesday.