African Markets - Factors to watch on July 16
July 16 (Reuters) -The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday.
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EVENTS: Counting continues in Rwanda's presidential election. GLOBAL MARKETS Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean for China, while the dollar climbed for a second day even though dovish Fed comments fuelled bets of more U.S. rate cuts this year. MKTS/GLOB WORLD OIL PRICES Oil prices slipped on Tuesday on worries about a slowing Chinese economy crimping demand, though a growing consensus that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September limited declines. O/R EMERGING MARKETS For the top emerging markets news, double click on nTOPEMRG AFRICA STOCKS For the latest news on African stocks, click on .J SOUTH AFRICA MARKETS The South African rand tumbled against the dollar on Monday, as the assassination attempt on former U.S. president Donald Trump this weekend dented appetite for riskier assets and spurred safe-haven demand globally. KENYA MARKETS Kenya's shilling was unchanged against the dollar on Monday, LSEG data showed. RWANDA ELECTION Rwandans lined up on Monday to elect their next president, with early results putting incumbent Paul Kagame in the lead in a vote widely expected to give him a fourth term and extend his near quarter century in charge of the East African country. GHANA COCOA Trading houses face losses of at least $1 billion on cocoa derivatives after major producer Ghana failed to deliver beans this year, forcing traders to liquidate short positions in a rallying market, six industry sources told Reuters. GAMBIA FGM Gambia's parliament on Monday rejected a bill that would have ended a ban on female genital mutilation, after lawmakers voted down all the clauses in the proposed law. KENYA RATINGS S&P Global plans to wait until a scheduled review date on August 23 to decide whether to cut Kenya's sovereign credit rating following deadly turmoil in the country that has seen tax hikes abandoned and the entire cabinet sacked. SOUTH AFRICA NUCLEAR South Africa's Koeberg nuclear power plant will be allowed to run one of its two units for another 20 years, the country's nuclear regulator said on Monday after lengthy deliberations. SOMALIA SECURITY A car bomb exploded outside a restaurant in Somalia's capital Mogadishu on Sunday night, killing five and injuring 20 as patrons were watching the final of the Euro 2024 football tournament on TV, police said, blaming Islamist insurgents. KENYA KILLINGS A suspected serial killer has been arrested in Kenya following the discovery of several bodies at a quarry in Nairobi, with police saying on Monday he had confessed to killing 42 women including his wife. For the latest precious metals report click on GOL/ For the latest crude oil report click on O/L |
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