African Markets – Factors to watch on Oct 13 – Reuters

NAIROBI, Oct 13 (Reuters) – The following company
announcements, scheduled economic indicators, debt and currency
market moves and political events may affect African markets on
Thursday.
– – – – –
EVENTS:
*KENYA – The central bank auctions 91-day Treasury bills
worth 4 billion Kenyan shillings.

GLOBAL MARKETS
Asian stocks stumbled to three-week lows and U.S. stock
futures and Treasury yields fell after China’s September
trade data showed a sharp decline in exports, raising fresh
concerns about the health of the world’s second biggest
economy.

WORLD OIL PRICES
Oil prices fell on Thursday after OPEC said its production
had risen to the highest level in at least eight years and
following reports of an increase in U.S. crude stockpiles.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand recovered on Wednesday after the state
prosecutor said Finance Minister Pravin Gordhan could ask
for a review of a decision to charge him with fraud.

SOUTH AFRICA POLITICS
Fraud charges laid against South African Finance Minister
Pravin Gordhan will be hard to prove and the case will fuel
suspicion of a plot to oust a man who has defied allies
close to President Jacob Zuma, legal experts, analysts and
senior politicians say.

IVORY COAST ENERGY
Ivory Coast’s government adopted a set of power sector
decrees on Wednesday meant to open it up to competition and
address shortfalls in the electricity supply to Francophone
West Africa’s biggest economy, its spokesman said.

NIGERIA BANKS
Nigeria’s banks are facing economic challenges but have
strong capital buffers to weather the crisis, a central bank
official said on Wednesday following a meeting with lenders.

KENYA AVIATION
Restructuring loss-making carrier Kenya Airways
will take a month, the government said on Wednesday,
appealing to pilots to withdraw a strike notice and join
discussions.

KENYA CURRENCY
The Kenyan shilling KES was stable against the dollar on
Wednesday with hard currency inflows from remittances by
Kenyans working abroad helping offset pressure from energy
sector demand.

GHANA INFLATION
Ghana’s consumer prices rose at an 17.2 percent
annual rate in September from 16.9 percent in August as food
prices went up, the statistics office said on Wednesday.