African Markets – Factors to watch on Aug 29


Mon Aug 29, 2016 4:46am GMT

NAIROBI, Aug 29 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Monday.
    - - - - -
 EVENTS:
 *ANGOLA - The central bank to announce its latest decision
 on the direction of its benchmark lending rate.
 *Namibia's statistics office to release second quarter gross
 domestic product data.
 
 GLOBAL MARKETS
 Most Asian share markets tumbled on Monday while the U.S.
 dollar added to gains made after Federal Reserve Chair Janet
 Yellen indicated a U.S. interest rate increase remains on
 the cards for this year.                       
 
 WORLD OIL PRICES
 Oil prices fell about 1 percent on Monday as Iraq's
 production rose and Iran said it would only cooperate in
 producer talks to freeze output if fellow exporters
 recognised its right to fully regain market
 share.                 
 
 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 and bonds rallied on Friday as soft
 economic growth data in the United States ahead of a speech
 by the Federal Reserve chair upped bets the bank could delay
 hiking lending rates.            
 
 NIGERIA MARKETS
 Nigeria's naira was quoted at an all-time low of 412 per
 dollar on the parallel market on Friday as a dollar shortage
 persists, traders said.            
     Also, Nigeria's overnight naira interbank lending rate
 closed around the 20 percent level on Friday, a range it has
 traded all week because of low liquidity and the central
 bank's cash withdrawal through treasury bills sales, traders
 said.            
 
 JAPAN AFRICA SUPPORT
 Japanese Prime Minister Shinzo Abe told African leaders on
 Saturday that his country will commit $30 billion in public
 and private support for infrastructure development,
 education and healthcare expansion in the
 continent.             
 
 KENYA MARKETS
 The Kenyan shilling        inched down on Friday due to
 dollar demand from the energy sector but traders said flows
 from the tourism industry were likely to offer
 support.            
 
 KENYA BANKING
 Kenyan bank shares plunged for a second day on Friday after
 President Uhuru Kenyatta sought to boost the economy by
 capping lending rates and analysts said his attempt to
 encourage lending may prove counterproductive.            
 
 GABON POLITICS
 Supporters of Gabon's President Ali Bongo and his chief
 rival both said on Sunday they were set to win a
 presidential election that poses the most serious challenge
 yet to the Bongo family's half-century rule in the tiny,
 oil-rich nation.


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