Published On: Fri, May 5th, 2017

African Markets – Factors to watch on May 5

NAIROBI, May 5 (Reuters) – The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday.

* SOUTH AFRICA: Moody’s announces its ratings decision on South Africa this week. The agency put South Africa on review for a downgrade after the President Jacob Zuma cabinet reshuffle that saw a respected finance minister
being fired.
* SOUTH AFRICA: World Economic Forum on Africa will be held in Durban, South Africa, on 3-5 May 2017. The meeting will convene regional and global leaders from business, government and civil society to explore solutions to create economic opportunities for all.
* SOUTH AFRICA: South Africa’s Treasury holds weekly auction for 3-month, 6-month 9-month and 1-year treasury
bills
GLOBAL MARKETS
Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the
health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s
presidential election.

WORLD OIL PRICES
Oil prices fell by as much as a further 3 percent on Friday,after prices had crashed to five-month lows in the previous
session, as concerns about global oversupply wiped out all of the price gains since OPEC’s move to cut output.

NIGERIA MARKETS
A recent rise in oil revenues has helped the central bank to defend the naira and stabilise the parallel market foreign
exchange rate, central bank governor Godwin Emefiele said on Thursday.

NIGERIA OIL
A Nigerian village has filed a lawsuit in Milan against Italian oil company Eni ENI.MI demanding compensation for
damage caused by an oil pipeline explosion in 2010, an Italian lawyer representing the village said on Thursday.

KENYA MARKETS
The Kenyan shilling weakened slightly against the dollar on Thursday due to an increased demand from importers
in the energy sector, but it was seen as range-bound for the remainder of the session, traders said.

KENYA TEA
A drought in many parts of Kenya’s farming areas has cut its first-quarter tea production by more than a third from a
year earlier to 90.09 million kg, the Tea Board said on Thursday.

ALGERIA POLITICS
Algerian voters looked set to hand the ruling FLN and its allies another five-year mandate in a parliamentary election
on Thursday overshadowed by low oil prices and concerns over the health of the country’s elderly president, bdelaziz
Bouteflika.

BOTSWANA MINING
The World Bank on Thursday called on Botswana to make details of its large mining contracts with companies public
to improve transparency in the diamond rich country’s business dealings.