African Markets – Factors to watch on Dec. 8

The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
    - - - - -
 EVENTS:
 TANZANIA - The statistics office releases consumer price
 data for November. The rate edged down to 5.1 percent in
 October.  
 
 GLOBAL MARKETS
 Asian shares rallied for a second session on Friday as
 economic news from China and Japan beat all expectations,
 and investors marvelled at the meteoric ascent of the
 market's new crypto-star, bitcoin.
            
 
 WORLD OIL PRICES
 Oil prices were stable on Friday, held back by a
 strengthening U.S. dollar but supported by China's
 relentless thirst for crude amid the OPEC-led supply cuts
 that have already tightened the market this year.
      
 
 EMERGING MARKETS
 For the top emerging markets news, double click on
            
 
 AFRICA STOCKS
 For the latest news on African stocks, click on     
 
 AFRICA CURRENCIES    
 The Zambian kwacha ZMW= and Tanzanian TZS= shilling are
 likely to strengthen next week, while other African
 currencies are seen stable, traders and analysts said.
             
 
 SOUTH AFRICA MARKETS
 South Africa's rand fell more than one percent against the
 U.S. dollar on Thursday as the greenback rose, while stocks
 edged up slightly, despite another share plunge by Steinhoff
 International SNHJ.J.
             
 
 NIGERIA MARKETS
 Nigerian stocks rose for the seventh straight day on
 Thursday and reached a three-year high, led by consumer
 goods and banking shares.
             
 
 NIGERIA OIL STRIKE
 One of Nigeria's two main oil unions on Thursday threatened
 to launch a nationwide strike from Dec. 18 over what it said
 was a "mass sacking of workers that joined the union".
                 
 
 KENYA MARKETS
 Kenya's shilling KES= was little changed on Thursday and
 traders said they expect it to weaken due to increased
 general importer dollar demand.
             
 
 KENYA ECONOMY       
 The World Bank has cut its 2017 growth estimate for Kenya's
 economy to 4.9 percent, which would be the slowest annual
 expansion in five years, due to drought, sluggish credit
 growth and a prolonged election season, it said on Thursday.
             
 
 KENYA POLITICS
 Swearing in an alternative president of Kenya would be an
 act of treason, the country's attorney general said on
 Thursday, days before an opposition leader expects to be
 inaugurated by an unofficial people's assembly.
             
 
 GHANA TRADER
 Kweku Adoboli, a former UBS trader jailed for Britain's
 biggest fraud over unauthorised trades that cost the Swiss
 bank $2.3 billion, averted the immediate threat of
 deportation at a court hearing in London on Thursday.
             
 
 ZAMBIA ECONOMY
 Zambia's economy will grow more slowly than expected,
 expanding 3.8 percent instead of the previous forecast of
 4.1 percent, the World Bank said on Thursday.
             
 
 ZIMBABWE BUDGET
 Zimbabwe's new government promised to re-engage with
 international lenders, curb spending and attract investors
 to revive its battered economy, as it launched its first
 budget since the fall of Robert Mugabe on Thursday.
             
 
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Source
Reuters: Ghana News




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