African Markets – Factors to watch on Nov 18 – Reuters

NAIROBI, Nov 18 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Friday.
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GLOBAL MARKETS
Asian share markets weakened on Friday as rising U.S. bond
yields carried the dollar to a more than 13-1/2 year high
against a basket of major currencies, fuelled by
expectations that President-elect Donald Trump’s policies
will lead to higher interest rates.

WORLD OIL PRICES
Oil prices fell in early trading on Friday as the
strengthening U.S. dollar snuffed out rekindled hopes that
OPEC might agree production cuts.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand firmed in early trade on Thursday as the
dollar gave up some of its earlier gains after a week-long
surge that followed Donald Trump’s shock election win
subsided.

SOUTH AFRICA TREASURY
South Africa’s deputy finance minister said on Thursday that
patronage and corruption were undermining efforts for a
credible government, a day after an audit showed the
government had made $3 billion in irregular expenditure this
financial year.

NIGERIA OIL
Nigeria needs at least $14 billion a year in new investment
over the next five years to raise oil output to 2.2 million
barrels a day (bpd) and even higher spending to lift it to 3
million bpd, the head of a company producing oil in the
country said.

NIGERIA AVIATION
Nigeria’s largest airline, Arik Air, has reduced the number
of domestic flights it offers due to a scarcity of aviation
fuel, its spokesman said on Thursday, the latest carrier to
limit services due to a currency squeeze in the country.

SOUTH SUDAN POLITICS
The United States circulated on Thursday to the 15-member
United Nations Security Council a draft resolution to impose
an arms embargo on South Sudan and further targeted
sanctions amid warnings by a senior U.N. official of
possible genocide.

SOUTH AFRICA MININGS
South Africa’s Chamber of Mines said on Thursday it was
concerned about a revised draft for a new mining charter,
which seeks to establish a new regulatory agency and impose
social development targets on the industry based on
revenues.