African markets factors Nov 9, 2017

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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 to auction 91-day, 182-day and
364-day Treasury bills worth a total 24 billion shillings
($232 million).

GLOBAL MARKETS
Asia stocks hovered near a decade high on Thursday following
another record breaking day on Wall Street, while the New
Zealand dollar rallied as hawkish-sounding statements by the
country’s central bank boosted the recently battered
currency.

WORLD OIL PRICES
Oil prices held steady on Thursday after falling late in the
previous session, supported by ongoing supply cuts led by
OPEC and Russia.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand firmed on Wednesday, recovering some
losses suffered in the previous session, while stocks were
weaker as Steinhoff International ,
weighed on the bourse.

NIGERIA MARKETS
Nigeria’s bonds were flat on Wednesday, shrugging off a
downgrade by Moody’s, since investors had already factored
in issues that triggered the rating change and were buying
debt at a discount to book profits, traders
said.
Separately, Nigeria plans to sell 119.94 billion naira
of treasury bills at an auction on Nov 15., the central bank
said on Wednesday.

NIGERIA TELECOMS
Nigeria’s Senate approved on Wednesday a report largely
exonerating South African telecoms company MTN Group Ltd’s
Nigerian unit, after the business was accused of
illegally repatriating $14 billion to its
parent.

KENYA MARKETS
Kenya’s shilling was steady on Wednesday and was
forecast to weaken slightly due to dollar demand from the
manufacturing sector, but tight liquidity was expected to
cushion it, traders said.

GHANA INFLATION
Ghana’s annual consumer price inflation fell to 11.6 percent
in October from 12.2 percent the previous month on the back
of lower transport and health costs, the statistics office
said on Wednesday.

TANZANIA INFLATION
Tanzania’s inflation slowed to 5.1 percent year-on-year in
October from 5.3 percent a month earlier due to slower rises
in commodity prices, the statistics office said on
Wednesday.