African Markets – Factors to watch on Sept 28 – Reuters

NAIROBI, Sept 28 – The following company announcements, scheduled economic indicators, debt
and currency market moves and political events may affect African markets on Wednesday.
– – – – –
EVENTS:
*Zambia’s central bank announces its latest decision on the
benchmark lending rate, and also inflation figures, any time
this week.
*Botswana releases GDP data for second quarter 2016 any time
this week.
* Ghana releases producer inflation for August
* Angola announces interest rates

GLOBAL MARKETS
Asian stocks were mostly lower on Wednesday, with European
banking sector concerns and lower crude oil prices dulling
investors’ appetite for riskier assets.
Equities in Asia had gained the previous day on a perceived
win by Democrat Hillary Clinton at the first presidential
debate over Republican Donald Trump, who is seen as creating
greater uncertainty for the U.S. and global economies.

WORLD OIL PRICES
Oil prices rose early on Wednesday, after sharp losses in
the previous session, as industry data showed a surprise
draw in U.S. crude stocks, although worries over a lack of
agreement among producers to curb output kept a lid on
gains.

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

SOUTH AFRICA MARKETS
South Africa’s rand firmed on Tuesday as risk currencies
were lifted by Hillary Clinton’s performance against Donald
Trump in the first debate between the U.S. presidential
candidates.
But stocks soured in line with global peers on worries about
European banks.

NIGERIA MARKETS
Nigeria plans to raise between 250 billion naira and 340
billion naira ($794.91 million-$1.08 billion) in local
currency-denominated bonds in the fourth quarter, the Debt
Management Office (DMO) said on Tuesday.

KENYA MARKETS
The Kenyan shilling was steady on Tuesday but seen to
be under pressure due to dollar demand from multinational
companies and oil importers, traders said.

GHANA GOLD
Ghana’s gold output rose 38.6 percent in the first half of
2016 to 1,993,850 ounces from 1,438,656 ounces a year ago,
boosted mainly by new mining operations, the Ghana Chamber
of Mines said on Tuesday.

NIGERIA TELECOMS
Lawmakers in the upper house of Nigeria’s parliament agreed
on Tuesday to investigate an allegation that South Africa’s
<MTN MTNJ.J>, Africa’s biggest telecoms company, illegally
transferred $13.92 billion out of the West African country.

SEYCHELLES POLITICS
Seychelles President James Alix Michel said on Tuesday he
would resign on Oct. 16 after a constitutional amendment to
limit the number of presidential terms to two, a statement
published by the state house showed.