May 8, 2018 / 5:09 AM / in 3 months

African Markets - Factors to watch on May 8

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Tuesday.
    - - - - -
 EVENTS:
 *Mauritius, Tanzania and Seychelles releases latest
 inflation data for April
 
 
 
 GLOBAL MARKETS
 Oil prices eased slightly on Tuesday, a day after hitting
 3-1/2 year highs, as investors braced for President Donald
 Trump's decision on whether to withdraw the United States
 from the Iran nuclear deal, a move that could disrupt global
 oil supply.                       
 
 WORLD OIL PRICES
 Oil prices retreated from 3-1/2 year highs on Tuesday as
 investors waited on an announcement by President Donald
 Trump on whether the United States will reimpose sanctions
 on Iran.                 
 
 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 Monday, tracking the euro
 and other emerging market currencies as the dollar's recent
 rally was reignited by renewed bets of higher lending
 rates.            
 
 
 
 NIGERIA POLITICS
 Nigerian President Muhammadu Buhari will travel to Britain
 to see his doctor, he said on Monday in a surprise
 announcement that could renew concern about whether he is
 well enough to run for a second term at an election next
 year.            
 
 
 
 NIGERIA SECURITY
 Nigeria's military said on Monday it had helped to rescue
 more than 1,000 people held by Islamist militant group Boko
 Haram in the northeast of the country.            
 
 
 
 KENYA MARKETS
 The Kenyan shilling        was stable against the dollar on
 Monday but was expected to ease due to demand from
 multinational companies buying dollars to repatriate
 dividends, traders said.            
 
 
 
 KENYA BUDGET
 Kenya's budget deficit is expected to drop to 5.7 percent of
 GDP in the 2018/19 (July-June) fiscal year from 7.2 percent
 this fiscal year, estimates sent to parliament by the
 Treasury showed on Monday.             
 
 
 
 KENYA TELECOMS
 America Tower Corporation         will acquire Telkom
 Kenya's transmission towers in a deal expected to be
 concluded in the second half of this year, allowing Telkom
 to invest in its internet network, the two companies said on
 Monday.             
 
 
 
 ETHIOPIA AIRLINES
 Even by its own standards, Ethiopian Airlines'
 [RIC:RIC:ETHA.UL] recent growth has been fast -- so fast
 that it revised the ambitious 15-year strategy set in 2010
 and plans to buy more planes to step up its
 expansion.                    
 
 
 
 SOMALIA SECURITY
 The Islamist militant group al Shabaab has killed nine
 Kenyan soldiers in Somalia, Kenyan President Uhuru Kenyatta
 said on Monday.            
 
 
 
 RWANDA FLOODS
 Landslides caused by heavy rains killed at least 18 people
 in Rwanda's Northern and Western province over the weekend,
 pushing the death toll since January to more than 200, a
 government official said.            
 
 
 
 COCOA IVORY COAST
 Successes in the battle to reduce plant-eating caterpillars
 gave a boost to Ivory Coast's April-to-September cocoa
 mid-crop last week, though a lack of rain tempered optimism,
 farmers said.                
 
 
 
 ZAMBIA MINING
 Zambia concluded audits of mining companies that prompted
 the nation to slap Canadian miner First Quantum Minerals
         with a tax bill of over 76.5 billion Zambian kwacha
 ($8 billion), its revenue authority said on
 Monday.                
 
 
 
 ZIMBABWE MINING
 A Zimbabwean mining company is considering upgrading a local
 nickel refinery to produce battery grade lithium or
 alternatively build a new lithium carbonate plant at a cost
 of up to $150 million, its managing director said on
 Monday.                
 
 
 
 BURKINA FASO IMF   
 Burkina Faso's economy is on track to grow by around 6
 percent this year, in line with the last two years' average,
 the International Monetary Fund said in a statement on
 Monday.                
 
 
 
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