Market News

African Markets - Factors to watch on Feb 17 - Reuters

FEBRUARY 17, 2017

DOWNLOAD APPS AT http://abokifx.com ABOKIFX.COM 

NAIROBI, Feb 17 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - -

GLOBAL MARKETS Asian stock markets took a breather on Friday from their recent surge as investors booked profits, while the dollar inched up after Thursday's slide and optimism over possible renewed supply cuts by OPEC lifted oil prices.

WORLD OIL PRICES Oil prices edged up on Friday, lifted by a report that producer club OPEC could extend an output cut aimed at reining in a global fuel supply overhang.

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 weakened on Thursday, pausing a recent rally that has lifted the unit to 17-months highs as the greenback pared losses following a batch of upbeat U.S. economic data. SOUTH AFRICA FINANCE South Africa will come down hard on financial market abuse, President Jacob Zuma said on Thursday, following accusations that more than a dozen local and foreign banks had rigged rand currency dealing.DOWNLOAD APPS AT http://abokifx.com ABOKIFX.COM 

AFRICA CURRENCIES Ghana's cedi is expected to remain under pressure next week amid market uncertainty over a weaker-than-expected 2016 while the Zambian kwacha is likely to hold its gains supported by dollar inflows from investors buying bonds.

NIGERIA ECONOMY Nigeria's top state advisory body on Thursday demanded an urgent review of the central bank's foreign exchange policy.

NIGERIA INDUSTRY Nigeria's central bank has disbursed $2.83 billion to critical sectors of the economy in December and January, it said in a statement on Thursday, in an attempt to kickstart a struggling economy and alleviate a drought of foreign currency.

NIGERIA AVIATION Nigeria's "bad bank" said on Thursday it had taken over the day-to-day running of Arik Air in an attempt to rescue the country's largest airline, which it placed in receivership last week after it was unable to pay workers or creditors.

GHANA ECONOMY Ghana is arranging for additional reserves to intervene sooner than planned in order to prop the local cedi currency GHS= which has weakened to new lows this week, two central bank sources said on Thursday. ANGOLA POLITICS Angolan Vice President Manuel Vicente had been charged in Portugal with corruption and money laundering, the Prosecutor General's office in Lisbon said on Thursday. CENTRAL

AFRICAN REPUBLIC CONFLICT Rebels in Central African Republic killed at least 32 civilians after clashes with a rival armed group, Human Rights Watch (HRW) said on Thursday, a sign of the fighters' growing boldness amid limited state authority.

MOZAMBIQUE STORM Tropical storm Dineo has killed seven people in Mozambique since it hit the eastern coast on Wednesday, the government's disaster centre said on Thursday.DOWNLOAD APPS AT http://abokifx.com ABOKIFX.COM 

WEST AFRICA ECONOMY Countries in the West African Economic and Monetary Union (WAEMU) are on track to see medium-term economic growth of about 6 percent after recording 6.5 percent growth last year, the International Monetary Fund (IMF) said on Thursday.

SEE HOW MUCH YOU GET IF YOU SELL

NGN
USD
GBP
EUR
Real Time Analytics