Market News

African Markets - Factors to watch on Sept. 13 - REUTERS

SEPTEMBER 13, 2017


The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - -

GLOBAL MARKETS Asian stocks wobbled on Wednesday but still marked a 10-year high, cheered by record highs on Wall Street, while shares of Apple Inc's suppliers dipped following the release of the latest iPhone.

WORLD OIL PRICES Oil prices were mixed early on Wednesday, but largely held on to gains in the previous session after OPEC said it expected higher demand for its crude next year.

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 on Tuesday as a resurgent dollar pushed back and wiped away early demand for risk currencies while turning up technical pressure on the local unit.

NIGERIA CHOLERA Efforts to contain a cholera outbreak that has struck more than 1,000 people in refugee camps in northeast Nigeria are being hampered because people are failing to report suspected cases to authorities, a United Nations official said.

NIGERIA-GERMANY/CRIME Police in Germany on Tuesday arrested five people suspected of smuggling Nigerian men into the country through fake marriages, the German federal police said in a statement.

NIGERIA POLITICS A group campaigning for the secession of a part of southeastern Nigeria, formerly known as Biafra, on Tuesday accused the army of laying siege to their leader's home, a charge the armed forces denied.

KENYA MARKETS The Kenyan shilling was unchanged against the dollar on Tuesday with hard currency inflows from remittances meeting importer and corporate demand, traders said.

KENYA ELECTION Kenyan President Uhuru Kenyatta opened parliament on Tuesday by warning against divisive and destructive politics, while opposition lawmakers boycotted the legislature and rallied to demand the resignation of election officials.

UGANDA MARKETS The Ugandan shilling was broadly stable on Tuesday although inflows from commodity exporters and some commercial banks paring their dollar positions gave the local currency a strengthening bias.

UGANDA POLITICS Legislators from Ugandan President Yoweri Museveni's party on Tuesday agreed to introduce a law to remove an age limit from the country's constitution, potentially allowing him to extend his rule, two lawmakers told Reuters.

GHANA BANKS Ghana's central bank has raised the minimum capital required for banks three-fold to 400 million cedis ($90.2 million) as part of measures to ensure financial stability, its spokesman said on Tuesday.

MALI MINING Mali's state revenues from mining companies rose 1 percent last year to 247.3 billion CFA francs ($454 million) from 2015 due to a rise in gold prices, the mining ministry said on Tuesday.

AFRICA-EU FISHING Portugal, Spain, Greece and Italy broke European Union law by authorising vessels to fish in the territorial waters off Gambia and Equatorial Guinea, according to the findings of conservation group Oceana published on Tuesday.

CENTRAL AFRICA POLITICS Central African Republic president Faustin-Archange Touadera sacked his defense minister on Tuesday evening, according to a state radio broadcast, amid growing violence that threatens to spin the country out of control.

SOUTH SUDAN OIL War-ravaged South Sudan is considering scrapping state subsidies on oil because it hasn't been able to pay civil servants for four months and diplomatic staff abroad are being evicted over unpaid rent, the deputy finance minister said.


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