African Markets – Factors to watch on Dec 2 – Reuters

NAIROBI, Dec 2 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Friday.
– – – – –
EVENTS:
*MAURITIUS – The central bank auctions 91-day, 182-day and 364-day
Treasury bills worth a total 1 billion rupees.

GLOBAL MARKETS
Asian shares lost some of their recent gains on Friday, after
lacklustre sessions on Wall Street and Europe, while 10-year U.S.
Treasury yields and crude futures pulled back from multi-month highs
hit overnight.

WORLD OIL PRICES
Oil prices slipped on Friday as some investors opted to cash out
after Brent touched 16-month a high on Thursday, with optimism over
this week’s OPEC-Russia accord on cutting output giving way to
questions on the “sticking point” of implementing the
deal.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand weakened on Thursday as the dollar regained
recent losses on improved economic data, while stocks kicked off the
last month of the year on the backfoot as lower bullion prices hit
gold mining shares.

AFRICA CURRENCIES
Nigeria’s naira is seen weakening further next week amid a crackdown
on black market currency traders, while the Kenyan shilling may
strengthen.

NIGERIA MARKETS
Nigeria sold 117.16 billion naira ($372.46 million) in short-dated
treasury bills at an auction on Wednesday, with yields broadly
unchanged from rates at the previous auction, data from the central
bank showed on Thursday.

NIGERIA BANK LOAN
Nigeria’s United Bank for Africa (UBA) has secured a $150
million loan deal with the African Development Bank (AfDB) to
support infrastructure projects in Africa’s top economy, the bank
said on Thursday.

KENYA MARKETS
The Kenyan shilling was firm against the dollar on Thursday,
helped by remittances from Kenyan nationals working abroad, traders
said.

KENYA OIL IMPORTS
Kenya’s oil importers bought more than 440,000 tonnes of oil
products for January to early February delivery, about 7 percent
more than what they initially sought through a tender, trade sources
said on Friday.

WEST AFRICA CRUDE OIL EXPORTS
West African crude exports to Asia are set to hit 2.1 million
barrels per day (bpd) in December, the highest level since July
2015, driven by pricing that made the grades more attractive when
compared with supply from the Middle East.

SOUTH SUDAN UNREST
Ethnic cleansing is taking place in some areas of South Sudan and
the stage is set for a repeat of the Rwandan genocide, the head of
the U.N. commission of human rights in the country said on Thursday
at the end of a 10-day visit.

MADAGASCAR ECONOMY
Madagascar needs to achieve growth of 6.5 percent to help it reduce
poverty, the president told a donor conference in Paris on
Thursday.

MOZAMBIQUE PETROLEUM
Mozambique’s National Petroleum (INP) expects to sign new oil and
gas prospecting contracts by early next year with the companies
awarded rights to test for hydrocarbons across the country, an
official said on Thursday.

BOTSWANA MINING
Russia’s Norilsk Nickel said on Thursday it has filed a
lawsuit against Botswana-based BCL Group to recover $271.3 million
plus damages it says it is owed from the sale of a 50 percent stake
in the Nkomati mine in South Africa.