African Markets - Factors to watch on Aug 31 - Reuters

August 31, 2016
NAIROBI, Aug 31 (Reuters) - 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:
*Nigeria to release second quarter 2016 gross domestic product data, and the latest data on the state of its foreign exchange reserves. *Kenya and Uganda to release consumer inflation data for August.

*KENYA - The central bank to auction 182-day and 364-day Treasury bills worth a total 12 billion shillings.

GLOBAL MARKETS
Asian shares eased on Wednesday following modest losses on Wall Street, with investors awaiting U.S. jobs numbers for further signs the Federal Reserve may raise rates as soon as September.

WORLD OIL PRICES
Crude oil futures fell in early trade on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand weakened against the dollar on Tuesday, with investor caution over a political row involving the country's finance minister hanging over the markets.

NIGERIA MARKETS
Nigeria's central bank sold around $1.5 million at the interbank forex market on Tuesday to support the local currency and ensure the closing rate stabilises, traders said.

NIGERIA SECURITY
A militant group said on Tuesday it attacked a pipeline operated by a subsidiary of Nigeria's state oil company in the country's southern Delta region, just a day after the most prolific rebel group in the restive energy hub said it had halted hostilities.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on Tuesday with demand coming from importers and manufacturers expected to put pressure on it, traders said.

UGANDA PETROLEUM
Uganda granted on Tuesday five production licences to UK-listed explorer Tullow Oil and three to France's Total , clearing a major hurdle as the east African country aims to move more quickly towards crude production.

ZAMBIA CURRENCY
Zambia's kwacha firmed as much 1.24 percent to 9.55 against the dollar on Tuesday, extending gains to a third straight session following last week's successful auction of Treasury bills and bonds.

ZAMBIA ECONOMY
Zambia plans to cut subsidies as agreed with the International monetary Fund, with talks on an aid package at an advanced stage, a presidential spokesman said on Tuesday.

GABON POLITICS
The Gabon government on Tuesday accused President Ali Bongo's challenger, Jean Ping, of trying to destabilise the country, and warned French ruling party officials against "interference" in its affairs.

MOZAMBIQUE DEBT
The International Monetary Fund (IMF) is demanding an external forensic audit of Mozambique's public debt to regain investor confidence after a scandal over more than $2 billion in secret loans, its local representative said on Tuesday.

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Steven Rich
Sep 17, 2018:
Well done
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