November 9, 2018 / 5:07 AM / 4 days ago

African Markets - Factors to watch on Nov. 9

    NAIROBI, Nov 9 (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 stocks pulled back from a one-month high on Friday as
 the Federal Reserve appeared poised to deliver another
 interest rate hike next month, paring gains made earlier
 this week after U.S. midterm elections triggered a global
 equities rally.                              
 WORLD OIL PRICES
 Oil markets on Friday remained weak as rising supply and
 concerns of an economic slowdown pressured prices, with U.S.
 crude now down by 20 percent since early October.
                         
 
 EMERGING MARKETS
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 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 AFRICA CURRENCIES
 The Kenyan shilling        was stable against the dollar on
 Thursday due to inflows from offshore investors and Diaspora
 remittances meeting demand from oil and merchant importers,
 traders said.                
 SOUTH AFRICA MARKETS
 South Africa's rand weakened on Thursday as a dollar rally
 dimmed investor appetite for riskier assets with investors
 taking profits ahead of the U.S. Federal Reserve meeting
 later in the day.              
 
 NIGERIA TELECOMS
 Nigeria's central bank plans to meet four lenders of
 telecoms company MTN          to discuss a dispute over a
 $8.1 billion fund transfer, after a court adjourned the
 case, a banking source said.               
 NIGERIA BONDS
 Nigerian officials will go on a roadshow to London next week
 ahead of a planned $2.8 billion Eurobond sale this month,
 two banking sources told Reuters on Thursday.              
 KENYA ECONOMY
 A lawmaker from Kenya's ruling party has proposed limiting
 foreign involvement in public contracts after what he said
 was an outcry about an influx of Chinese businesses driving
 out local companies.               
 CAMEROON POWER
 France's EDF Group          signed an agreement on Thursday
 to build and operate a 1.2 billion euro ($1.37 billion)
 hydropower project in Cameroon, the first step in a plan to
 expand its hydropower business in Africa, a company
 executive said.               
 ZAMBIA ECONOMY
 Zambian Finance Minister Margaret Mwanakatwe expects the
 country's fiscal deficit to be around 7 percent of gross
 domestic product in 2018, she said on Thursday.
                
 MOZAMBIQUE EUROBOND
 Mozambique's $726.5 million Eurobond restructuring agreement
 with the bulk of its creditors had good terms and
 conditions, Finance Minister Adriano Maleiane said on
 Thursday.                
 
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