Reuters – African Markets – Factors to Watch on Feb. 16
The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Friday.
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Asian shares rose for a fifth straight day on Friday as
investor confidence slowly returns after a sharp sell-off
earlier in the month, but the dollar continued its descent,
hitting a three-year low against a basket of major
WORLD OIL PRICES
Oil prices edged higher on Friday as the dollar stood near a
three-year low in subdued Asian trade, with many markets
closed for the Lunar New Year holiday.
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Zambia’s kwacha currency ZMW= is expected to gain and the
Ugandan shilling UGX= to come under pressure.
SOUTH AFRICA MARKETS
South African stocks index rose as much as 5 percent on
Thursday, putting the main index on track for its biggest
one-day gain in more than three years, on hopes the
resignation of Jacob Zuma as president paves the way for new
leaders to quicken the pace of economic growth.
The Kenyan shilling KES= was under pressure against the
dollar on Thursday, with low overnight borrowing rates in
the money markets triggering increased demand for dollars
among banks to meet liquidity thresholds, traders said.
Kenya has questioned a decision by credit ratings agency
Moody’s to downgrade the East African country’s debt at a
time when senior officials are travelling abroad to market
new dollar bonds.
ETHIOPIA PRIME MINISTER
Ethiopia’s Prime Minister Hailemariam Desalegn suddenly
resigned on Thursday in what he described as a bid to smooth
reforms, following years of violent unrest that threatened
the ruling party’s hold on Africa’s second most populous
Zimbabwe’s consumer price inflation quickened to 3.52
percent year-on-year in January from 3.46 percent in
December, data from the national statistics agency showed on