African Markets - Factors to watch on Sept 1 - Reuters

September 1, 2016
NAIROBI, Sept 1 (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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EVENTS:
*KENYA - The central bank to auction 91-day Treasury bills worth a total 4 billion shillings.

GLOBAL MARKETS
Asian shares dipped on Thursday after lower crude oil prices dented Wall Street and a pair of Chinese manufacturing surveys did little to inspire investors as markets waited to see if U.S. employment data could put the Federal Reserve on track to hike interest rates.

WORLD OIL PRICES
Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.S. dollar after falling around 3 percent or more in the previous session following a surprisingly large build in U.S. crude and distillate stocks last week.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa's rand tumbled to its weakest in three weeks on Wednesday after reports that a large asset manager was halting loans to state-owned firms, spooking investors already concerned about the management of the economy.

NIGERIA MARKETS
Nigeria's central bank sold dollar to some commercial lenders on Wednesday to support the local currency, which hit a fresh all-time low of 420 to the dollar on the unofficial market, the same day Africa's biggest economy officially slid into recession.
Also, the central bank ended the suspension of eight lenders banned from the interbank currency market for failing to remit money owed to the government, it said on Wednesday.

NIGERIA FOREIGN EXCHANGE RESERVES
Nigeria's foreign exchange reserves fell to $25.45 billion by Aug. 29, down 2.86 percent from the previous month, central bank latest data showed on Wednesday as the bank stepped up support for its ailing currency.

NIGERIA ECONOMY
Nigeria, Africa's biggest economy, officially slid into recession for the first time in more than 20 years as the statistics office announced a further contraction in the second quarter of the year.

KENYA MARKETS
The Kenyan shilling was stable on Wednesday and was seen gaining due to dollar inflows from non-governmental organisations, traders said. KENYA TOURISM Kenya sees earnings from tourism rising to 100 billion shillings ($990 million) in 2016, helped by improved security, infrastructure and marketing, the president's office said on Wednesday.

KENYA CORRUPTION
The chairman of Kenya's anti-graft body said on Wednesday he had quit after lawmakers recommended removing him from office over an alleged conflict of interest between his family business and another state-run agency.

UGANDA INFLATION
Uganda's inflation UGCPIY=ECI fell in August due to a slower rise in the price of vegetables, clothing and footwear, the statistics office said on Wednesday.

TANZANIA POLITICS
Tanzania's main opposition party has suspended protests scheduled for Thursday, to give time for negotiations with the government that has called its planned demonstrations illegal.

GABON POLITICS
Gabon's opposition leader Jean Ping said on Thursday two people were killed and many injured when the presidential guard and police attacked his party's headquarters overnight in the wake of an election held at the weekend.
Demonstrators in Gabon clashed with police and set part of the parliament building on fire on Wednesday as anger boiled over among opposition supporters at President Ali Bongo's re-election in polls that his main rival, Jean Ping, claimed to have won.

MOZAMBIQUE CENTRAL BANK
Mozambican President Filipe Nyusi appointed Rogerio Lucas Zandamela, an International Monetary Fund (IMF) official, as central bank governor to replace Ernesto Gove, whose term has ended, the presidency said on Wednesday.

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Steven Rich
Sep 17, 2018:
Well done
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