African Markets - Factors to watch on Jan 18 - Reuters

January 18, 2017
NAIROBI, Jan 18 (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:
*SOUTH AFRICA - The statistics office is expected to release December consumer price inflation data.

GLOBAL MARKETS
Asian stock markets held near three-month highs on Wednesday as investors scooped up exporter shares after U.S. President-elect Donald Trump expressed concerns over a stronger dollar.

WORLD OIL PRICES
Oil prices edged higher on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand rose to its highest in two months on Tuesday, gaining as much as two percent, benefiting from a brighter commodities outlook and uncertainty about the outlook for U.S. economic policy that has favoured emerging market currencies.

NIGERIA MARKETS
Nigeria needs to close the gap between the official and black market rates for the naira against the dollar "very soon", Vice President Yemi Osinbajo said on Tuesday, as Africa's largest economy grapples with inflation and the risks of devaluation.

NIGERIA ECONOMY
Nigeria's efforts to secure funds from international lenders to help haul it out of recession have stalled because it has not submitted the required economic reform plans, according to one of the banks and sources close to the matter.

KENYA MARKETS
The Kenyan shilling traded stable against the dollar on Tuesday, with a likely surge in demand by oil importers seen posing depreciation risk for the local currency.

KENYA ECONOMY
Kenya's economy will expand by 6 percent this year, a senior Treasury official said on Tuesday, brushing off concerns outside government that sluggish credit lending and investor uncertainty ahead of a presidential election would slow growth.

GAMBIA POLITICS
Gambian President Yahya Jammeh declared a state of emergency on Tuesday after refusing to hand power to opposition leader Adama Barrow, who won an election last month.

GHANA GOLD PRODUCTION
Ghana's gold output fell 7 percent in the first nine months of 2016 to 1.9 million ounces compared with the same period the previous year, data from the Ghana Chamber of Mines showed on Tuesday.

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Steven Rich
Sep 17, 2018:
Well done
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