African markets factors, outlook March 1, 2018

0
9
The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Thursday.
    - - - - -
 GLOBAL MARKETS
 Asian stocks fell on Thursday after Wall Street marked its
 worst monthly performance in two years as the impact from
 new Federal Reserve chief Jerome Powell's hawkish-sounding
 comments reverberated across the broader risk asset markets.
 
                 
 WORLD OIL PRICES
 Oil prices extended declines on Thursday after official data
 showed a larger-than-expected increase in U.S. crude
 inventories and a surprise build in gasoline stocks.     
 
 SOUTH AFRICA MARKETS
 South Africa's rand weakened on bets of higher interest
 rates in the United States and worries triggered by another
 rating cut to state power utility Eskom by S&P Global
 Ratings.             
 KENYA MARKETS
 The Kenyan shilling        strengthened to its highest in a
 week on Wednesday, reversing its recent losses due to weak
 demand for dollars, traders said.             
 KENYA  INFLATION
 Kenya's year-on-year inflation             dipped slightly
 to 4.46 pct in February, the statistics office said on
 Wednesday, down from 4.83 percent in January.             
 NIGERIA
 Nigeria's people are getting poorer despite the country's
 slow recovery from recession, and economic reforms are
 urgently needed, the International Monetary Fund (IMF) said
 in a report seen by Reuters on Wednesday.              
 NIGERIA TELECOMS 
 MTN plans to list its Nigerian unit worth $5.23 billion by
 July in a debut IPO on the Lagos bourse and will raise fresh
 funds to reduce debt, according to pre-IPO presentation seen
 by Reuters.                 
 NIGERIA POLITICS/
 The national executive committee of Nigeria's ruling party
 has endorsed President Muhammadu Buhari to seek a second
 term in an election next year, two senior party sources told
 Reuters on Wednesday              
 AFRICA BANKING
 Africa has emerged as the world's No. 2 banking market in
 terms of growth and profitability, according to a study by
 management consulting firm McKinsey and Company.            
 ZIMBABWE MINING
 Zimbabwe has the potential to supply 20 percent of the
 world's lithium, the mines minister from Africa's top
 producer of the alkali metal used in batteries for electric
 vehicles said on Wednesday.