African Markets – Factors to watch on Oct 11 – Reuters

NAIROBI, Oct 11 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Tuesday.
– – – – –
EVENTS:
*SOUTH AFRICA – Weekly Treasury bonds auction due today.

GLOBAL MARKETS
Asian shares were mostly lower on Tuesday, while oil prices
hovered near one-year highs on growing expectations of an
output cut by OPEC producers.

WORLD OIL PRICES
Oil prices edged down early on Tuesday but held near
one-year highs touched on growing expectations of an output
cut by OPEC producers, and traders said the price outlook
remains bullish as confidence in crude markets rises.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand firmed against the dollar on Monday as
investors, seeing less chance of a victory by Republican
nominee Donald Trump in next month’s U.S. presidential
election, ventured into riskier emerging markets.

SOUTH AFRICA POLITICS
South African President Jacob Zuma, under scrutiny for his
friendship with a wealthy business family, has asked an
anti-corruption watchdog not to report her findings until he
has had a chance to question other witnesses, his office
said on Monday.

SOUTH AFRICA ENERGY
South Africa has selected two local consortia as the
preferred bidders to develop the first privately-built
coal-fired plants in Africa’s most industrialised country,
the energy minister said on Monday.

DEMOCRATIC REPUBLIC OF CONGO POLITICS
A Congolese opposition leader was arrested late on Sunday
for his role in anti-government demonstrations last month in
which more than 50 people died, the government said on
Monday, leading to threats of more protests if he is not
released.

ETHIOPIA UNREST
Ethiopia accused “elements” in Eritrea, Egypt and elsewhere
on Monday of being behind a wave of violent protests over
land grabs and human rights that have prompted the
government to declare a state of emergency in the Horn of
Africa nation.

NIGERIA GOVERNMENT REVENUES
Nigeria managed to raise only 55 percent of its six-month
revenue target in the first six months of 2016, its budget
minister said on Monday.

KENYA CURRENCY
The Kenyan shilling was biased toward weakening
against the dollar on Monday, undermined by hard currency
demand from energy importers.