African Markets – Factors to watch on Oct 25 – Reuters

NAIROBI, Oct 25 (Reuters) – The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Tuesday.
– – – – –
EVENTS:
*NAIROBI/YAOUNDE – The International Monetary Fund launches
its October 2016 Regional Economic Outlook Report for
Sub-Saharan Africa.

GLOBAL MARKETS
Japanese shares hit a six-month top on Tuesday as the dollar
advanced on the yen, while risk sentiment got a lift after
factory surveys in the United States and Europe boasted the
best readings of the year so far.

WORLD OIL PRICES
Oil prices dipped early on Tuesday over disagreement within
producer cartel OPEC on who should cut how much production
in a planned coordinated reduction to prop up
prices.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand looked to consolidate its recovery
against the dollar on Monday as doubts over the tenure of
Finance Minister Pravin Gordhan abated in the face of public
support from business leaders and ruling ANC
officials.

NIGERIA TELECOMS
MTN Group’s next chief executive will take over
three months early, the South African telecoms company said
on Monday, boosting a share price hit by allegations it
illegally moved $14 billion out of Nigeria.
Also, Citigroup has denied being involved in any
illegal foreign currency transfer on behalf of MTN Group
, according to a presentation the U.S. bank gave to
the Nigerian parliament.

NIGERIA SECURITY
Nigeria will hold a meeting with community leaders and
representatives of militants from the Niger Delta next week
in Abuja to end the insurgents’ attacks on oil facilities in
the southern region, two government sources told Reuters on
Monday.

UGANDA CURRENCY
The Ugandan shilling shed value on Monday, under
pressure from a surge in appetite for foreign exchange from
commercial banks covering short dollar
positions.

BURUNDI POLITICS
Burundi’s government has withdrawn permits from a prominent
human rights organisation and several other non-profit
groups, accusing them of stirring up hatred and tarnishing
the nation’s image, an order issued by the Interior Ministry
said.

GHANA ECONOMY
Ghana is revising its forecast for gross domestic product
growth in 2017 to 7.0-7.4 percent from a previous forecast
of above 8 percent, Finance Minister Seth Terkper said on
Monday.

GHANA MINING
South Africa’s Gold Fields will invest $1.4 billion
to extend the life of its Damang mine in Ghana, it said on
Monday, as it reported a quarterly output
update.

IVORY COAST COCOA
Cocoa arrivals at ports in top grower Ivory Coast reached
around 152,000 tonnes by October 23, since the start of the
season on October 1, exporters estimated on Monday, down
from 218,000 tonnes in the same period of the previous
season.