African Markets – Factors to watch on Oct 3 – Reuters

NAIROBI, Oct 3 – The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Monday.
– – – – –
EVENTS:
*MAURITIUS – The statistics office is expected to release
September’s year-on-year consumer price index (CPI) data any
time starting today.

GLOBAL MARKETS
Asian shares got the new quarter off to a firm start on
Monday and European bourses were expected to follow, while
sterling stumbled as Britain set a March deadline to start
divorce proceedings from the European Union.

WORLD OIL PRICES
Brent crude oil prices steadied above $50 a barrel on
Monday, supported by a planned production cut by exporter
club OPEC, but still under pressure from an overhang in
supply that currently exceeds consumption.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand slipped in early trade on Monday against
a firming dollar as concerns about Deutsche Bank’s health
eased.

NIGERIA ECONOMY
Nigeria has spent 720.5 billion naira ($2.4 billion) on
capital expenditure this year to help drag Africa’s biggest
economy out of recession, President Muhammadu Buhari said on
Saturday.

NIGERIA RESERVES
Nigeria’s foreign exchange reserves fell to $24.59 billion
by Sept. 28, down 3.37 percent from the previous month,
latest central bank data showed on Friday, as the bank
stepped up its intervention to prop up the ailing naira
currency.

KENYA MARKETS
Kenya’s shilling stronger on Friday, helped by some
commercial banks selling dollars and tight liquidity,
traders said.

ETHIOPIA POLITICS
More than 50 people were killed in a stampede in Ethiopia’s
Oromiya region that was triggered when police used teargas
and shot in the air on Sunday to disperse anti-government
protesters at a religious festival.

DEMOCRATIC REPUBLIC OF CONGO POLITICS
The head of Democratic Republic of Congo’s electoral
commission said on Saturday that he expects the presidential
election, originally scheduled for this November, to be
delayed until December 2018, lawmakers present at his speech
said.