November 7, 2018 / 4:23 AM / 9 days ago

African Markets - Factors to watch on Nov.7

    NAIROBI, Nov 7 (Reuters) - The following company announcements, scheduled economic
indicators, debt and currency market moves and political events may affect African markets on
Wednesday.
    - - - - -
 GLOBAL MARKETS
 Wall Street stock futures and Asian shares erased most of
 their earlier gains in choppy trade on Wednesday, as results
 from the U.S. midterm elections showed Republicans close to
 losing their grip on Congress.                          
 WORLD OIL PRICES
 Oil prices dipped on Wednesday as rising output and U.S.
 sanction waivers that allow Iran's biggest buyers to keep
 taking its crude reinforced the outlook for a well-supplied
 market.                       
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 AFRICA CURRENCIES
 The Kenyan shilling        was broadly stable against the
 dollar on Tuesday with hard currency inflows from offshore
 investors buying government debt meeting demand from
 merchant importers, traders said.              
 SOUTH AFRICA MARKETS
 South Africa's rand fell on Tuesday and stocks snapped a
 four-session winning streak, with markets favouring caution
 ahead of U.S. midterm Congressional elections as policy
 decisions that could sway the world's largest economy hinge
 on the results.             
 NIGERIA CRUDE 
 Nigeria's Senate voted on Tuesday to investigate the alleged
 withdrawal of $1.05 billion by Nigerian National Petroleum
 Corporation (NNPC) from Nigeria LNG (NLNG), a venture owned
 by the state oil firm and foreign energy companies.
                 
 NIGERIA WAGES
 Nigerian trade unions and the government agreed a minimum
 wage proposal to avert a nationwide strike that was to have
 shut down Africa's biggest economy on Tuesday, a union
 official said.               
 KENYA ECONOMY
 Kenya's biggest telecoms operator Safaricom          
 unveiled on Tuesday a new service on its M-Pesa mobile
 financial services platform that will allow users to send
 money around the world in a partnership with Western Union
       .               
 KENYA CRUDE
 Africa-focused Tullow Oil         expects the first crude
 shipments from its Kenyan oilfields in the first half of
 2019 and is pricing the product for the market, the
 company's chief executive said on Tuesday.               
 GHANA ENERGY
 South African engineering firm Group Five          said on
 Tuesday that construction on its Ghanaian Kpone power plant
 had been delayed once again due to fuel contamination.      
 
             
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