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African Markets - Factors to watch on May 19 - REUTERS

MAY 19, 2017

NAIROBI, May 19 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - -

GLOBAL MARKETS Asian stocks were mixed on Friday, while the dollar surrendered some of the overnight gains it made on strong economic data amid ongoing political turbulence around U.S. President Donald Trump.

WORLD OIL PRICES Oil futures rose on Friday to the highest in nearly a month on growing optimism that big producing countries will extend output cuts to curb a persistent glut in crude, with key benchmarks heading for a second week of gains.

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 nearly 3 percent against the dollar on Thursday before recouping some lost ground as the political turmoil in the United States triggered an investor flight from riskier emerging currencies into safe-haven assets.

KENYA MARKETS The Kenyan shilling weakened slightly against the dollar on Thursday driven by increased dollar demand from food importers and was seen range-bound for the rest of the session, traders said.

NIGERIA LOANS Development Bank of Nigeria, a new state-backed lender, aims to make up to 20,000 new loans to small firms within its first year of operation as part of efforts to help unlock credit to the recession-hit economy, its chief executive Tony Okpanachi said.

NIGERIA CRUDE Nigeria's state oil company is in the final stage of signing $6 billion worth of deals to exchange more than 300,000 barrels per day (bpd) of crude oil for imported gasoline and diesel, sources with direct knowledge of the process told Reuters.

GHANA AID The International Monetary Fund has suggested to Ghana's government that it request an extension to a three-year $918 million aid programme due to end in April 2018, the Fund's Ghana representative Natalia Koliadina said on Thursday.

ANGOLA OIL EXPLORATION Angola's state oil company Sonangol has cancelled an auction of oil exploration licences for eight blocks, blaming the drop in oil prices since the bidding opened.

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