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African Markets - Factors to watch on July 5



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July 5 (Reuters) -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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EVENTS:

Kenya's President William Ruto and his ministers are due to hold discussions on social media platform X, targeting youth after anti-government protests.

GLOBAL MARKETS

Asian share markets scaled new highs on Friday as investors sized up U.S. rate cuts for September and the mood was upbeat, while the euro hit a three-week peak ahead of French elections.

MKTS/GLOB


WORLD OIL PRICES

Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight week of gains and holding near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns.

O/R


EMERGING MARKETS

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AFRICA STOCKS

For the latest news on African stocks, click on .J

AFRICA MARKETS

The Kenyan, Ghanaian, Ugandan and Zambian currencies are forecast to be broadly steady against the dollar in the next week to Thursday, while Nigeria's naira is expected to weaken, traders said.


SOUTH AFRICA MARKETS

The South African rand extended its gains against the dollar on Thursday after the U.S. currency slipped on rising expectations that U.S. interest rate cuts are on the way.


KENYA MARKETS

The Kenyan shilling was flat in a quiet session on Thursday, as traders said they thought the worst anti-government protests were probably over.


NIGERIA ECONOMY

Nigerian President Bola Tinubu has asked his economic management team to prepare a 2 trillion naira ($1.33 billion) stimulus plan to address concerns about food supplies and pricing and bolster key sectors, the finance minister said on Thursday.


SUDAN POLITICS

More than 136,000 people have fled Sudan's southeastern Sennar state since the paramilitary Rapid Support Forces began a series of attacks on towns, the United Nations said on Thursday, the latest wave of displacement caused by Sudan's almost 15-month long war.


GHANA POLITICS

Ghana's Vice-President Mahamudu Bawumia of the country's ruling New Patriotic Party (NPP) has picked the current energy minister as his running mate for December's presidential election.


NIGERIA DEBT

Nigeria's debt to gasoline suppliers has surpassed $6 billion - doubling since early April - as state oil firm NNPC struggles to cover the gap between fixed pump prices and international fuel costs, six industry sources said.


ETHIOPIA DEBT

Ethiopia will receive $10.5 billion in support over the coming years if long-running negotiations with the International Monetary Fund and World Bank are successful, Prime Minister Abiy Ahmed said on Thursday.


TANZANIA RATES

Tanzania's central bank left its key interest rate unchanged at 6%, it said on Thursday, adding that inflation expectations were well below target, the economy was growing strongly and exchange rate pressures were expected to ease.


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