African markets update Oct. 10, 2017

0 Comment
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
– – – – –
EVENTS:
* Rwanda releases inflation rate.
* Liberia holds presidential elections.

GLOBAL MARKETS
Asian shares rose on Tuesday, shrugging off modest losses on
Wall Street, while expectations of another U.S. interest rate
increase this year continued to underpin the dollar.

WORLD OIL PRICES
Oil prices were steady on Tuesday as OPEC said there were clear
signs the market was rebalancing and as U.S. production remained
offline following Hurricane Nate.

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 slumped to a new six-month low on Monday as
emerging market currencies suffered a broad sell-off linked to
rising U.S. Treasury yields.

NIGERIA MARKETS
Nigerian stocks climbed 1.3 percent on Monday to hit a six-week
high after its biggest listed firm Dangote Cement and some
consumer goods companies gained.

KENYA MARKETS
The Kenyan shilling was stable against the dollar on
Monday as the market assessed political developments in the East
African country, traders said.

CONGO MINING
Congo’s mines minister has ordered a joint venture of Chinese
investors to stop exporting raw copper and cobalt before
processing because of their low value on international markets..

IVORY COAST SECURITY
Ivory Coast authorities arrested a senior aide to parliament
speaker Guillaume Soro on Monday, a prosecutor said, accusing
him of possessing and distributing weapons to destabilise the
state during an army mutiny earlier this year.

MOZAMBIQUE ATTACK
Gun battles last week between police and attackers in a remote
northern Mozambican port killed 16 people, including two police
officers, local media reported.