African Markets - Factors to watch on Jan 26 - Reuters

January 26, 2017
NAIROBI, Jan 26 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.

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GLOBAL MARKETS

Asian stocks rose to 3-1/2-month highs on Thursday, cheered by the Dow Jones Industrial Average breaching the 20,000-level for the first time, though concerns about U.S. President Donald Trump's protectionist stance kept the dollar on the defensive.

WORLD OIL PRICES
Oil prices rose on Thursday, driven up by a weakening dollar, but gains were capped by plentiful supplies and inventories despite an effort by OPEC and other producers to cut output and prop up the market.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand firmed to its strongest level in nearly three months on Wednesday as lingering worries about U.S. President Donald Trump's protectionist stance and uncertainty over his fiscal policies dragged on the dollar.

SOUTH AFRICA ECONOMY
South Africa's sovereign credit rating could come under pressure if the country's economic growth and fiscal performance do not improve, the head of the sub-Saharan region of S&P Global Ratings said on Wednesday.

GAMBIA POLITICS
Gambia's President Adama Barrow, who was inaugurated in neighbouring Senegal as mediators engineered an exit deal for longstanding ruler Yahya Jammeh, is to return to Gambia on Thursday, a senior aide said.

NIGERIA POLITICS
The Nigerian government said on Wednesday that President Muhammadu Buhari is in good health, urging people to disregard what it said were false and subversive messages on social media after he travelled to Britain last week for medical checks.

NIGERIA BONDS
Investors are lining up to buy dollar bonds Nigeria is expected to issue soon despite the country's first recession in a quarter of a century, a currency crisis and budget shortfalls driven by low oil prices.

EQUATORIAL GUINEA OIL
Africa's no. 3 oil producer Equatorial Guinea has held "fruitful" discussions and expects a decision soon on an offer to join the Organisation of the Petroleum Exporting Countries (OPEC), the country's energy minister told Reuters on Wednesday.

GHANA ECONOMY
Ghana's producer price inflation GHPPIY=ECI fell sharply to 4.9 percent year-on-year in December, from 11.9 percent the month before, because of a big drop in the cost of utilities, the statistics office said on Wednesday.

ANGOLA DEBT
Angola's public debt is projected to narrow to 62.8 percent of gross domestic product in 2017, from 71.6 percent last year, the International Monetary Fund said late on Tuesday.

SOMALIA SECURITY
Islamist militants rammed a car bomb into the gate of a hotel in Somalia's capital Mogadishu on Wednesday, jumped clear and stormed inside on Wednesday, killing 28 people, government and medical officials said.

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Steven Rich
Sep 17, 2018:
Well done
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