African Markets – Factors to watch on Oct 12 – Reuters

NAIROBI, Oct 12 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Wednesday.
– – – – –
EVENTS:
*KENYA – The central bank auctions 182-day and 364-day
Treasury bills worth a combined 12 billion Kenyan shillings.

GLOBAL MARKETS
Asian shares hit three-week lows on Wednesday after a dour
start to Wall Street’s corporate earnings season knocked
U.S. stocks, while the dollar and Treasury yields were at
multi-month highs on growing expectations of a U.S. interest
rate hike in December.

WORLD OIL PRICES
Crude futures inched up on Wednesday, with investors waiting
for talks between OPEC producers and other oil exporters on
curbing output to end a glut in the global market.

EMERGING MARKETS
For the top emerging markets news, double click on

AFRICA STOCKS
For the latest news on African stocks, click on

SOUTH AFRICA MARKETS
South Africa’s rand plunged on Tuesday after prosecutors
ordered Finance Minister Pravin Gordhan to appear in court
to face fraud charges, adding to months of political
uncertainty.

SOUTH AFRICA POLITICS
South African prosecutors ordered Finance Minister Pravin
Gordhan on Tuesday to appear in court on Nov. 2 to hear
fraud charges against him, news that sent the rand and share
prices reeling.

NIGERIA ECONOMY
Nigerian policemen and soldiers on Tuesday dispersed around
100 youth protesters demanding the resignation of central
bank governor Godwin Emefiele over rising inflation and a
falling currency, a Reuters witness said.

NIGERIA MORTGAGES
Nigeria plans to raise, with the help private investors, a
fund worth 1 trillion naira ($3.3 billion) to finance
mortgages for low-income earners, its vice president said on
Tuesday.

KENYA AIRWAYS
A major Kenyan pilots’ union has called for an indefinite
strike beginning Oct. 18 to protest what it described as
poor management at the troubled national carrier Kenya
Airways, the union’s general secretary said on Tuesday.

KENYA CURRENCY
The Kenyan shilling was steady against the dollar on
Tuesday with traders expecting any increase in energy sector
demand to be met by foreign exchange from horticulture
exports.