African Markets – Factors to watch on Dec 30 – Reuters

NAIROBI, Dec 30 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Friday.
– – – – –
EVENTS:
*NIGERIA – The central bank to release its latest figures on
the state of its foreign exchange reserves.
*UGANDA – The statistics office to release consumer
inflation data for December.
*MAURITIUS – The central bank to auction 91-day, 182-day and
364-day Treasury bills worth a total 700 million rupees.

GLOBAL MARKETS
Asian stocks looked set to end 2016 on an upbeat note, while
profit-taking weighed on the dollar and the euro held near a
two-week high after spiking early in the
day.

WORLD OIL PRICES
Oil prices rose in early Asian trade on Friday shrugging off
a second consecutive week of U.S. crude oil inventory
builds, with a U.S. Energy Information Administration (EIA)
report late on Thursday indicating an unexpected rise in
crude stocks.

EMERGING MARKETS
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AFRICA STOCKS
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AFRICA CURRENCIES
Kenya’s shilling and Zambia’s kwacha are seen holding steady
against the dollar in the next week to Thursday, while
Nigeria’s naira will likely weaken, traders said.

SOUTH AFRICA MARKETS
South Africa’s rand strengthened for a fourth consecutive
session on Thursday and shares rose to a two-week high as
emerging markets rallied on the back of a softer
dollar.

NIGERIA MARKETS
Nigeria’s central bank sold about $1 billion on the forward
market last week to clear a backlog of dollar obligations in
selected sectors, traders said on Thursday, its largest
special auction since a currency peg was removed in
June.

KENYA MARKETS
Kenya’s shilling was steady on Thursday and traders
said it was seen weaker due to dollar demand from sectors
like telecoms and manufacturing, while tight liquidity would
limit its losses.

UGANDA CURRENCY
The Ugandan shilling UGX= lost ground on Thursday, pressured
by strong importer and commercial bank dollar demand and
scant inflows of the U.S. currency.

ANGOLA LENDING RATE
Angola’s central bank kept its benchmark lending rate
unchanged at 16 percent, it said on Thursday, citing falls
in headline inflation.