African Markets - Factors to watch on Jan. 3 - REUTERS

January 3 2018

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday.
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EVENTS:
TOGO - President Faure Gnassingbe addresses the nation on the crisis that has led to months of street protests.

GLOBAL MARKETS
Asian stocks struck a decade peak on Wednesday as risk appetites were whetted by a bevy of upbeat manufacturing surveys that confirmed a synchronised upturn in world growth was well under way.

WORLD OIL PRICES
Oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand was little changed on the first trading day of 2018, giving up earlier gains in late trade after it was buoyed by improved sentiment for emerging currencies and a sluggish dollar.

KENYA MARKETS
The Kenyan shilling KES= edged down on Tuesday as market participants scrambled to fill pent-up demand for dollars after the holidays.

IVORY COAST COCOA
Hot, dry weather last week in most of top grower Ivory Coast's cocoa regions has raised fears about bean quality and production for the remainder of the main crop, farmers said on Tuesday.

ZAMBIA VEDANTA
A London court has ordered Zambia Vedanta VED.L unit KCM to pay a state mining company $139 million in a claim related to the copper price, raising by $36 million the amount it was originally ordered to pay, the state company said on Tuesday.

UGANDA PRESIDENTIAL TERM LIMIT
Uganda's President Yoweri Museveni has signed a law that scraps a 75-year age cap for presidential candidates, a spokesman for parliament said on Tuesday, a move critics say will allow him to remain in power indefinitely.