African Markets - Factors to watch on Feb. 15

  • Reuters
  • Stock Market News
African Markets - Factors to watch on Feb. 15
Credit: © Reuters.

NAIROBI, Feb 15 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

- - - - - EVENTS: *NIGERIA -Statistics office to release consumer inflation data for January.

GLOBAL MARKETS Asian stocks fell on Friday after weak U.S. retail sales figures raised fresh doubts about the strength of the world's largest economy, offsetting optimism towards trade talks between the United States and China. MKTS/GLOB

WORLD OIL PRICES Oil prices rallied on Friday, with Brent crude futures hitting fresh 2019 highs amid U.S. sanctions against Venezuela and Iran and supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC). O/R

SOUTH AFRICA MARKETS South Africa's rand weakened past 14 per dollar on Thursday as state-owned power utility Eskom imposed a fifth day of electricity blackouts that have discouraged investors over the economy, days before the annual budget. POLITICS A militant group in Nigeria's oil-rich southern Niger Delta threatened on Thursday to cripple the economy if President Muhammadu Buhari is re-elected on Saturday. MARKETS The Kenyan shilling KES= was broadly stable against the dollar on Thursday, drawing support from inflows by offshore investors buying government debt. ELECTRICITY The Kenya Electricity Generating Company KEGN.NR plans to raise funds from the market later this year and it may opt to issue the country's first green bond, its chief executive said. TELECOMS The chief executive officer of MTN Uganda, a unit of South Africa's MTN Group MTNJ.J , has been deported from the East African country over national security, police said on Friday. ECONOMY Uganda's economy is expected to grow 6.3 percent in the 2018/19 (Jul-Jun) fiscal year, slightly higher than the 2018 rate, helped by robust activity in sectors including manufacturing and construction, the IMF said on Thursday. DAM Tanzania's Stiegler's Gorge Dam, due to be built on a UNESCO World Heritage site, will cost more than double the government's estimates, an independent study showed on Thursday. MINING London-listed miner Vast Resources VAST.L is to be allowed into Zimbabwe's diamond fields, Mining Minister Winston Chitando said on Thursday, joining other new entrants including Russia's Alrosa ALRS.MM . (Full Story) (Full Story)

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